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Adrian Main Street DDA approves $115,000 transfer from TIFF to cover operating shortfall
Summary
The Downtown Adrian Main Street DDA voted March 18 to transfer $115,000 from its TIFF fund to the operating account to cover projected expenditures through June 30 and to authorize related budget amendments; staff and auditors reviewed the transfer and the board scheduled a special budget meeting for March 26.
Acting Chair opened a special March 18 meeting of the Downtown Adrian Main Street DDA and, after a staff presentation, the board approved a $115,000 budget amendment transferring TIFF funds to the DDA operating account to cover projected expenditures through the fiscal year ending June 30.
City Administrator Chad Ba, who led the financial review, told the board that a change in how budgets were presented beginning around August had created confusion and that city staff and the city auditors had reviewed the DDA accounts.…
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