The City of Poughkeepsie Industrial Development Agency accepted the Office of the State Comptroller's follow-up audit findings and approved invoices during its Sept. 24, 2026 meeting.

Chair Rose Moffett summarized the comptroller's follow-up review of the agency's corrective actions and the agency voted to accept the report; the board also approved invoices and acknowledged the treasurer's report on escrow and checking account activity.

Randy Johnson, the IDA treasurer, presented the financial report. He told the board the escrow account for 34 Cannon Street was reported in the meeting as "3,063 thousand and $62.47," and that the escrow checking account included interest figures the minutes record as $3,078.69 and $5,021.72 in separate entries. He also reported a Britt Van Winkle escrow balance of $5,014.30 and said the IDA's checking-account balance from the last report was $4,455,533.51. Johnson identified invoice payments on the agenda that evening: an administrative fee to the City of Poughkeepsie tied to the Rip Van Winkle closing (reported as $48,008.15), a $5,000 annual payment to the IDA's CPA/CFO, and a postage reimbursement to the chair (reported as $31.65). After accounting for invoices, Johnson said the new ending balance was reported as approximately $406,006.86. The board moved and seconded approval of the invoices and voted in favor.

Rose Moffett reviewed the Office of the State Comptroller follow-up audit (the IDA's CAP report). She told the board the comptroller made several recommendations and that the IDA had implemented most of them. Moffett summarized the comptroller's determinations as presented: missing UTEP applications and lease agreements were found on the IDA website (marked fully implemented); cost-benefit analyses for projects were considered implemented; suspension, discontinuance and recapture provisions could not be verified in the comptroller's earlier review because the relevant contract (the Rip Van Winkle contract) had not yet been executed at the time of that review but those provisions were included when the contract was later executed; public hearing notices were documented and marked implemented; annual monitoring procedures were performed but one shortcoming was that the specific board statements documenting those reviews were not entered into the minutes, which the comptroller counted as not implemented; project-owner financial information was partially implemented because a pilot payment calculation used an incorrect assessed value from the assessor's office; and pilot reports and penalties were considered fully implemented. Moffett said the agency has prepared a written response to the comptroller that will be posted with the findings and brought back for a formal resolution at the next meeting. She told the board, "If it's not documented, it didn't happen." The board moved and seconded to accept the comptroller's findings and voted in favor.

No formal new policy changes or permits were approved at the meeting beyond the routine invoices and acceptance of the audit findings. Moffett said the IDA will finalize and file a written response to the comptroller and publish it with the comptroller's findings on the IDA website.

Minutes: the board moved, seconded and approved minutes from the June 11, 2025 meeting earlier in the session.

Votes at a glance

- Motion to approve the agenda: passed (voice vote, all in favor).
- Motion to approve minutes from 06/11/2025: passed (voice vote, all in favor).
- Motion to approve invoices (including payment to City of Poughkeepsie related to Rip Van Winkle closing, $5,000 to CPA/CFO, postage reimbursement to the chair): passed (voice vote, all in favor).
- Motion to accept Office of the State Comptroller follow-up audit findings: passed (voice vote, all in favor).

The board adjourned after hearing a separate project presentation later in the meeting.