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Keene EDC accepts March financial report; $200,000 set aside for Tractor Supply pending paperwork
Summary
Keene EDC Type A board approved the financial report for March 2025. Staff said the board has approximately $325,000 in the money market with $200,000 held for a Tractor Supply incentive pending final paperwork; staff reported revenue and expense variances and an intention to improve finance systems.
The Keene Economic Development Corporation Type A board voted to approve the financial report and sales-tax update for the period ending March 2025.
Mira, the board's finance presenter, described a new monthly reporting format and said the EDC has about $325,000 in its money market account, of which roughly $200,000 is being held in reserve for a Tractor Supply incentive. Mira told the board that Tractor Supply has not submitted its final paperwork to trigger payment and that the final payout could be less than $200,000 depending on submitted documentation.
Mira reviewed year-to-date figures and noted the organization was approximately 0.56% over budget for revenue for the fiscal year-to-date and was slightly under budget on expenses. She said changes in reporting and software use are underway and that improved internal finance systems will help the city manage future grants and reporting obligations.
A motion to approve the March financial report passed by voice vote; the transcript records a second from a board member identified as Rolando and the chair calling for the ayes.
Provenance: Mira presented the financial report, described the money-market balance and explained the Tractor Supply payment condition; the board then moved and approved the motion to accept the report.
