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Chemung County IDA accepts July financials; ratifies $475,871.19 in arena-related payments
Summary
The IDA approved its July profit-and-loss report, accepted a balance-sheet update showing $693,000 in checking/savings, and ratified $475,871.19 in previously paid checks for arena operations and repairs.
The Chemung County Industrial Development Agency voted Aug. 14 to accept its July financial report and to ratify $475,871.19 in previously paid checks related largely to arena operations and repairs.
A staff presenter identified as Tom reviewed the July profit-and-loss for the arena, reporting $145,000 in revenue: $25,000 from rentals from Carrington Aviation and about $118,000 in ARPA receipts. He said expenses included utilities, building repair and maintenance, capital improvements and operations; one insurance line item of $6,500 was highlighted.
Tom said the agency's checking and savings balance was $693,000…
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