Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Mill & Elevator staff explain transfer math as representative proposes 6% breeding‑program allocation
Summary
Mill financial staff told a House budget subcommittee how net income, a 5% ag‑program transfer, and a 50/50 split between the general fund and the mill determine annual transfers; a legislator proposed a new 6% allocation for breeding programs that would reduce both mill and general‑fund receipts unless wording is changed.
The House Appropriations Government Operations division heard from North Dakota Mill & Elevator finance staff clarifying how the mill calculates transfers to the state and discussed a representative’s proposal to dedicate additional milling proceeds to agricultural breeding programs.
Kathy Duke, chief financial officer at the mill, told the committee the mill first computes net income after internal obligations such as employee profit‑sharing. The mill then transfers 5% of net income to a designated ag program (the transfer was cited in testimony at roughly $1.039 million for fiscal year 2024). After that 5% deduction the mill calculates the remaining profits and transfers 50 percent of that remainder…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
