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Bethlehem IDA approves March minutes; reviews March 31 financial statement showing roughly $1.0 million in assets
Summary
The IDA voted to accept its March minutes (6‑0‑1) and heard a March 31 financial report from the agency CFO reporting roughly $1,000,009 in cash and a projected year‑end deficit of about $106,000; the board discussed using surplus funds and timing for potential studies.
At the April 22 meeting of the Town of Bethlehem Industrial Development Agency, board member Richard Coppell moved to accept the March regular meeting minutes as circulated; the motion passed by voice vote with six yes votes and one abstention (Chair Victoria Storrs said she had not attended the March meeting and abstained).
The board then reviewed the March 31, 2026 financial statement presented by the agency’s CFO (referred to in the meeting as “Al”). Al reported a checking and savings balance of about $1,000,008.87 and noted accrued expenses of about $20,009.16, producing net assets roughly in the same $1.0 million range. Board members reiterated that the IDA budgeted to draw from surplus during the year and that the agency currently projects a year‑end deficit of approximately $106,000.
Board members asked questions about timing and how the IDA might fund follow‑up work on the CPL study. Executive director Kate Hedgeman and staff said any town funding would need town board approval and that the IDA retains authority to spend limited funds for studies but would bring proposals to a public session before committing significant amounts.
The meeting closed after a short additional item and a voice vote to adjourn.
