Attached are the unaudited financial statements and check register for August 2026.

If it pleases the Agency, accept the August 2026 financial reports and check register.

These reports are being provided to the Urban Renewal Agency (Agency) and the public pursuant to a recommendation from the agency’s auditor, supported by the Agency Manager, to provide transparency and full disclosure to all interested parties. The agency’s funds are held on deposit together with the City of Coos Bay’s funds for efficiency. Additionally, in FYE 2013 the Governmental Accounting Standards Board (GASB) issued pronouncement GASB 61, which defined the Agency as a blended unit of the City of Coos Bay and the financial statements were combined. The details of the investment portfolio are included in the monthly financial reports prepared for City Council and reported pursuant to the agency’s Investment Policy. Routinely, the agency’s transactions are included in three of the city’s bank statements (Banner Bank Operations, Banner Bank Accounts Payable, and Local Government Investment Pool) and are balanced by the 10th of the month following month-end; financial transactions are posted daily; and the financial reports available upon request.  

In the attached reports, the fund summary shows all agency funds are within appropriation levels with 17% of the fiscal year having elapsed. Urban Renewal Downtown Property Tax Collections are at 0.6% of budget and Urban Renewal Empire Property Tax Collections are at 0.6% of budget.  Checks are routinely issued weekly from the accounts payable account, as shown in the attached check register totaling $73,100.73.

The expenditures are within the budget appropriations.