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ACRPC: Treasurer reports stable reserves, notes paused grants and active $500,000 Brownfields work
Summary
The Addison County Regional Planning Commission reviewed fiscal reports showing a small year-to-date deficit the treasurer called a timing issue, and discussed paused subcontract grants and active EPA-funded Brownfields work with contractor Stantec.
The Addison County Regional Planning Commission accepted its treasurer's report and heard updates on several grants, including an active $500,000 EPA Brownfields award and a small accessory-dwelling-unit (ADU) grant from Saint Stephen's Church.
Adam, the commission's director, told commissioners that through Nov. 30 the statement of activities showed a net income deficit of about $15,000 but called it a timing issue. "I tell you we're we're in good financial shape," Adam said, noting the statement of financial position lists roughly $1,100,000 in total assets, about $765,000 in liabilities (largely prepaid program funds) and about $414,000 in net equity.
The commission discussed several federal- or state-funded projects. Adam said the EPA Brownfields grant totals $500,000 spread over three years and that the commission has a contract with Stantec for environmental investigations in several towns, including Middlebury and Addison. He also said some subcontracted grants are paused; specifically, the RAISE transit-oriented development (TOD) master-planning contracts with Middlebury, Ferrisburg and Vergennes are paused though invoicing continued.
Commissioners asked for detail on a large "miscellaneous reimbursable expenses" line in the activity statement; Adam and others clarified that much of that reflects subcontractor work on the Brownfields program and transportation subcontracts.
Adam described a $32,000 ADU grant provided by Saint Stephen's Church, which is being passed through as up to five $5,000 subgrants for qualifying Addison County ADU projects; two subgrants have been issued and funds remain for four more awards or some combination thereof. The program requires units rented at or below fair market value as a condition for subgrant eligibility.
The treasurer's report was moved, seconded and approved by the commission (see "Votes at a glance" itemization). The director and staff said they will provide updated December reports once the auditor and staff return from leave.
