Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Membership topic
No spam. Unsubscribe anytime.
Lancaster County EDA reviews finances, notes lack of quorum; will renew Chamber top-tier membership
Summary
At its Oct. 15 meeting, the Lancaster County Economic Development Authority reviewed its financial statements, discussed bank fees and certificates of deposit, and said it will renew its top-tier Chamber of Commerce membership; the panel lacked a quorum and took no formal votes.
The Lancaster County Economic Development Authority reviewed its financial position and said it will renew a reduced top-tier Chamber of Commerce membership at its Oct. 15 meeting, but the authority did not hold formal votes because there was not a quorum.
A board member said, "For the official record, we do not have a quorum." The authority’s discussion proceeded as an informational meeting only.
In the financial report presented to the authority, the community partnership checking account had a beginning balance of $44,368.11 on July 15, 2025; credited interest for July–September totaled $8.12; and debits included a $9 paper-statement fee that the presenter said bank staff had not removed. The presenter said they would follow up with the bank. Other debits recorded included a $10,000 payment to Summit Bridal Company and a separate $10,000 payment recorded in the minutes as "so lovely grant." The presenter reported an ending checking balance of $24,367.23 as of Oct. 15, 2025.
The authority also reported a certificate of deposit opened Aug. 31, 2025, at a 4.15% rate for five months, maturing Jan. 31, 2026. The CD had a beginning balance of $42,664.55 on July 15, 2025, earned $637.31 in interest for July–September, and had an ending balance reported as $43,301.86 on Oct. 15, 2025. The presenter noted annual revenue of approximately $12,472 from administrative fees collected on prior bond issuances.
On membership, a staff member said the authority is a top-tier Chamber member and had negotiated a reduced annual fee of $900 (down from $2,400) because the county is co-hosting the Chamber’s premier event at Windmill Point at Westland Beach; that $900 fee is due Nov. 1 and the staff member said, "we will pay that and I don't think you need to take action on that." Complimentary event tickets were offered to authority members.
No formal approvals of July minutes or other motions were taken because the authority lacked a quorum; the presenter said the financial status report could still be discussed but could not be formally approved.
The authority did not vote on any measures during this meeting. The authority’s presenter said they would follow up on the bank statement fee with the county’s bank and bring proposed items that require action to a future meeting when a quorum is present.
The meeting was adjourned informally by the presiding participant after the informational items concluded.
