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Laredo food committee reviews draft budget and told to itemize $160,000 city capacity award
Summary
Committee members reviewed a draft budget and treasury report, discussed timing and IRS filing implications, and were told the city requires an itemized budget tied to a proposed $160,000 capacity-building contract before the MOU and lease changes proceed.
At a meeting on Jan. 16, 2025, members of a Laredo community food committee reviewed the group’s treasury report and a draft annual budget and were told city staff needs an itemized budget showing how a proposed $160,000 capacity‑building award would be spent before the city will finalize a memorandum of understanding and move the organization’s lease from month‑to‑month to a multi‑year term.
The committee’s treasurer reported recent account activity, saying the group had received deposits since Nov. 1 and that expenditures since that date totaled about $10,194.60, including a roughly $1,800 insurance payment and payments for software and a projector. An accounting consultant present said he prepared a draft budget using QuickBooks transactions and revenue projections previously provided to the city, and he offered to circulate the draft for committee review.
City staff at the meeting said the proposed $160,000 award…
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