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DIA finance report: account 020 shows $5.9 million surplus; utilities slightly over budget
Summary
Durant Industrial Authority staff reported on March 4 that Account 020 is operating under budget with a $5.9 million surplus and Account 110 holds about $7.3 million in equity; utilities for Account 020 are slightly over by about $156 and trustees asked staff to provide documentation next month.
Kara, finance staff for the Durant Industrial Authority, told trustees on March 4 that Account 020 is operating under budget for the fiscal year and currently shows a surplus of $5,900,000. She said Account 110 is "on budget" and has total equity holdings of $7,300,000.
Kara noted utilities were the only material line slightly over budget in Account 020, by roughly $156. A trustee asked for proof of that $156 by the following month; Kara acknowledged the request.
Chairman Brett Rogers and trustees previously approved the consent agenda that included the Feb. 4 meeting minutes; the minutes approval was recorded by roll call with all present trustees voting yes. The finance report was presented as an informational item and there was no formal vote attached to the budget update.
Kathy, the authority’s executive director, reminded trustees that budget- and strategy-related meetings will be held in March and April as the board prepares the 2025–2026 budget for council consideration in June. She also said an executive assistant position supporting economic development has been posted and will remain open for roughly 10 days.
