Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Agency Finances topic
No spam. Unsubscribe anytime.
Herkimer County IDA board approves monthly financial report
Summary
The Herkimer County Industrial Development Agency board voted to accept its April financial reports after staff described loan and pilot payments and noted training costs would increase.
The Herkimer County Industrial Development Agency voted April 22 to accept its monthly financial reports, board members said.
The vote came after staff summarized account balances, outstanding loans and pilot payments due from the city. Victoria (staff member) told the board the city’s remaining pilot payments were expected by the end of the month and that a promissory note covered 88 acres at the park; she said the agency had closed on a portion of that land and would apply receipts to outstanding balances.
The agency’s travel and training budget was higher than planned largely because the IDA paid Denali Partners’ annual fee and expected additional travel and training as staff pursue more applicants and host IDA academies, Victoria said. Board discussion noted training costs could rise by roughly $10,000 as additional sessions and conferences are attended.
Board member Tim LaFleur moved to accept the financials; a second was recorded and the motion carried. The board did not record a roll-call tally in the transcript.
Board members also discussed the Skyler business park receivable and an outstanding pilot payment; Victoria said she expected the remaining city payments to arrive next month and presented the items for monitoring in upcoming packets.
Less urgent items left on the agenda included routine project closings and ongoing receivable tracking. Staff said a fuller update on the Skyler park and city payments will appear in the next meeting packet.
The board returned to the agenda’s project updates after the vote.
