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Board discusses IDA funds, animal‑shelter financing and reconciliation of accounting records
Summary
Nottoway County supervisors discussed applying roughly $2.1 million in IDA funds to an animal‑shelter project and asked staff to reconcile why those funds appear outside the county’s operating ledger in audit presentations.
At the Aug. 14, 2017 work session, county supervisors discussed using Industrial Development Authority (IDA) funds — including proceeds from past projects and property sales — to support the county animal shelter and other capital needs. Supervisors noted the IDA holds roughly $2.1 million in invested funds from prior transactions that could be applied to capital projects.
Separately, board members and staff identified an accounting presentation issue: some IDA and LRA (land remediation/economic development) funds are tracked outside the county’s operational general‑ledger system for historical and audit reasons. Staff said auditors and the treasurer treat those funds separately, and that the auditors advised not to put certain IDA monies into the county’s operating ledger. Supervisors directed staff to clarify those balances and reconcile reporting differences so policymakers can see a complete fiscal picture.
Context and next steps
Supervisors discussed recent timber and property sales that have added capital to the IDA; staff said proceeds could be used for the animal shelter and for IDA participation in future economic projects. County staff and auditors will reconcile the treasurer’s records with the county accounting system and provide a clearer presentation of available IDA funds and any constraints on their use. Staff projected they could have preliminary reconciled figures after the auditors complete required year‑end accrual and adjusting entries in the fall.
