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Commission overrides mayor to transfer funds to Industrial Development Board, approves accounting steps
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Summary
Claiborne County Commissioners voted to override the County Mayor's veto and approved transfers and accounting steps to move funds to the Claiborne County Industrial Development Board, authorizing monthly disbursements and an initial payment of $442,719.02.
Claiborne County commissioners on Oct. 18 voted to override County Mayor Joe Brooks' veto and authorized the transfer of funds to the Claiborne County Industrial Development Board.
The action began when Commissioner David Mundy moved to override the mayor's veto of Resolution 2021-089, which directs the county finance director to transfer funds administered on behalf of the Industrial Development Board into an account controlled by that board. Commissioner Carolyn Brooks seconded; the roll-call vote recorded 18 in favor and two passes and the override carried.
Following that vote, the commission approved Resolution 2021-100 to implement the accounting entries required for Fund 119, the Industrial Board fund. The resolution specified an initial disbursement of $442,719.02 (the cash balance as of Sept. 30, 2021) and directed monthly payments to the Industrial Development Board through June 30, 2022, with Fund 119 monies returned to the General Fund on July 1, 2022.
Commissioners discussed the procedural steps required to move the money but did not record extended debate in the minutes. The roll-call vote to approve the accounting resolution was 20 for, 0 against.
The resolutions make the Industrial Development Board financially independent of the county finance department by statute, according to the text of Resolution 2021-089, and authorize the board to create and control its own bank account once established. Resolution 2021-100 lists specific budget-line decreases, increases and an undesignated fund-balance adjustment to effect the transfer.
The commission record shows no legal conditions or contingencies attached to the transfers in the resolutions themselves; the override and subsequent accounting approval together complete the county's internal steps to move the funds to the Industrial Development Board.
Next steps: county staff were directed to effect the transfers and to make monthly payments as the county places funds into Fund 119, per the approved accounting resolution.