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Finance committee forwards $1.95 million EDPA surplus from CPV 3 Rivers to county board
Summary
The Grundy County Finance Committee voted Aug. 25 to forward an EDPA surplus distribution of $1,950,995 from CPV 3 Rivers to the full county board. The county's general fund share of the surplus is $304,160; the surplus declaration is required under the intergovernmental agreement and must be made before Sept. 1.
Grundy CountyFinance Committee members on Aug. 25 voted to forward to the county board an EDPA (Economic Development Project Agreement) surplus distribution of $1,950,995 tied to the CPV 3 Rivers project.
The surplus declaration is required by the intergovernmental agreement (IGA) governing CPV 3 Rivers and must be made before Sept. 1, Finance Director Matt said at the meeting. Under the distribution formula, $304,160 of the surplus will be paid to the county general fund; the countyreceived about $295,000 from last yeardistribution.
Why it matters: the surplus distribution provides one-time revenue the county can use in the general fund; forwarding the declaration is an administrative step required by the IGA before the board acts.
Details: Matt asked the committee to forward the EDPA 1 tax-year 2024 surplus distribution of $1,950,995 in relation to CPV 3 Rivers. Committee member Tina moved to forward the item; Vice Chairman Jerry seconded the motion. The committee voted in favor; the chair announced, "the ayes have it." No roll-call tally was recorded in the meeting minutes.
Discussion and next steps: committee members did not amend the motion. The forwarded item will appear on the county board agenda for final action. The IGA requirement to declare the surplus by Sept. 1 guided the timing of the request.
Context: The finance director presented the amount and noted a modest increase in the county's share compared with the prior year. No additional appropriations were made at the committee level during the meeting.
No direct quotes were recorded in the official motion beyond the procedural motion and second. The forwarded surplus declaration now awaits full county board consideration.
