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Glens Falls IDA moves March meeting for audit review; approves minutes, January financials and $1,065.24 in payments
Summary
At its February meeting the Glens Falls Industrial Development Agency shifted its March meeting to March 27 to accommodate year‑end audits and approved minutes, the financial report for Jan. 31 and payment of two invoices totaling $1,065.24.
At its February meeting the Glens Falls Industrial Development Agency agreed to move its regular March meeting to Thursday, March 27 at 8 a.m. to allow board members time to review the agency's year‑end audit and to meet the state's public authorities reporting deadline.
The change was announced during the administrative reports portion of the meeting. “So instead of meeting on the second Thursday of the month, we're gonna meet on Thursday, March 27, and at 8AM, and that has to do with our audits,” said Judy, a board member, explaining the schedule change and the need to post the audit on the state website for public authorities.
The board also approved the minutes from its Jan. 9 regular meeting, accepted the financial report for the month ending Jan. 31, 2025, and approved payment of two invoices totaling $1,065.24. The invoices listed at the meeting were $601.24 to Mark Toomey and $464.00 to Fitzgerald Morris Baker; the board chair called for the motions, members moved and seconded, and the chair declared each motion passed after unanimous “aye” votes with no nays or abstentions recorded.
Mark Toomey, the agency's chief financial officer, told the board the organization had limited activity in January: “Because all the expenses were accrued for in December, the only item we had was the initial fee payment from Crew Coffee for 3,500 that hit the profit and loss statement.” He also updated the board on the status of the ongoing audit work and the related PARIS reporting requirements to the New York State Authorities Budget Office.
Board members were reminded that the agency must submit multiple documents for the State's PARIS (public authorities reporting) system by March 31, and staff said they would circulate draft audit materials to the board in advance of the March meeting if available.
The board recorded no opposed votes and instructed staff to post the approved minutes and the financial report once final materials are processed and to continue coordinating with auditors and the State ABO to meet reporting deadlines.
