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Commission approves October minutes and treasurer's report showing $67,000 net income to Sept. 30
Summary
The commission approved the minutes from its Oct. 11 meeting (one abstention) and accepted the treasurer's report for the quarter ending Sept. 30 showing income of $338,000, expenses of $271,000 and net income of about $67,000; staff explained reimbursable consultant expenses and unearned revenue.
At its Nov. 13 meeting the Addison County Regional Planning Commission approved the minutes from its Oct. 11, 2024 meeting after a voice vote in which member Gioia recorded an abstention.
The commission then received and approved the treasurer's report for the quarter ending Sept. 30, 2024. Adam summarized the financials: total income of about $338,000, expenses of about $271,000, and net income of roughly $67,000 through Sept. 30. On the balance sheet Adam reported current assets of about $1.2 million, liabilities of about $757,000 and equity of about $489,000; he noted many liabilities are unearned revenue (prepaid grant amounts) and pointed to an accessory-dwelling-unit grant fund (about $20,000) that the commission administers.
A commissioner asked about a category of miscellaneous reimbursable expenses (~$49,000). Adam explained those primarily reflect consultant contracts (notably transportation consultants) that often wrap up at the end of the federal fiscal year, and that the commission had several consultant projects recently completed. The commission moved, seconded and approved the treasurer's report by voice vote.
