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Keene EDC Type B reports revenue growth, higher field rentals in unaudited FY report
Summary
EDC staff presented an unaudited Sept. 30 financial report showing revenue growth over last year, higher field rental income and CIP spending on park projects; the board accepted the report and approved modest sponsorship and oral‑history starter funding.
EDC staff presented the unaudited fiscal year‑end financial report (through Sept. 30) to the Type B board, describing revenue growth, increased field rental income and capital project spending earmarked for parks and signage.
The presenter (staff member identified in the transcript as Speaker 11) reported total revenue just over $3,386,000 and said the EDC was over its budgeted revenue line by about $44,000 compared with a $342,000 annual budget figure discussed during the presentation. The presenter also said field‑rental income rose from roughly $6,500 the prior year to about $19,000, driven by more frequent bookings (about 10–11 monthly). Interest income totaled about $22,000 at an average rate of about 3.98% (the presenter noted expectations that rates would fall slightly).
The presenter listed capital expenditures for the year, including lighting for the pickleball courts, a project monument sign replacement, a parking lot pad and drainage work at the pocket park. Board members asked questions about revenue drivers, increases in bookings and top taxpayers; the presenter noted a mix of local and remote businesses among the top taxpayers.
The board moved to approve two small allocations tied to community outreach and programming: an additional $250 sponsorship to support the Chamber banquet (bringing the board’s contribution pattern in line with other sponsors) and $300 to begin an oral‑history project; the motion passed. Board members discussed whether the city’s forthcoming marketing hire could host oral‑history content on the city website.
No audit‑finalized numbers were presented; the presenter specified the figures were unaudited and that an external audit is in progress.
