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Syracuse Local Development Corporation accepts 2024 audited financial statements
Summary
The Syracuse Local Development Corporation board accepted its 2024 audited financial statements after a brief presentation from auditors Grossman St. Amour; the audit found no issues, noted about $8,002.22 in remaining cash and that prior conduit debt had been repaid and repurposed with the Onondaga County Development Corporation.
The Syracuse Local Development Corporation board accepted its 2024 audited financial statements during a brief meeting, following a presentation from auditors Michael Lassonde and Brianna Lane of Grossman St. Amour.
The audit found no adjustments or issues and produced a clean, unmodified opinion. "The SLDC really has no new revenue sources," Lassonde said, adding that expenses during the year were routine and that the only outstanding item had been a conduit debt tied to Prouse Hospital which "has now . . . been repaid and repurposed with Onondaga County Development Corporation." The presentation noted about $8,002.22 in cash remaining on slide 7.
Board member Ken moved to accept the audited financial statements; board member Ricky Brown seconded the motion. With no discussion raised, the motion carried, according to the meeting record; the transcript does not specify a roll-call tally. During the audit committee discussion summarized at the meeting, Lassonde said he would "look into if there's a possibility to do a shortened review, due to the fact that there's such little activity on an annual basis," but that the auditors had told the board that a full audited opinion was required at this time.
The board's discussion emphasized the low level of transaction activity in the corporation and the absence of conduit debt on the SLDC books after the Prouse Hospital item was repaid. No new revenue sources were reported. The audit presenters described the remaining expenses as routine items such as insurance and typical legal fees.
After accepting the audit, the board moved to adjourn. The motion to adjourn was made by Ricky Brown and seconded by Ken; the motion carried. The meeting record notes the board adjourned until 08:00 for the Syracuse Industrial Development agents.
