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Lancaster IDA reports $2.0 million in combined accounts; draft budget due next meeting
Summary
The IDA's financial report showed $49,263.37 in checking and $1,957,791.35 in an investment account, for total balances of $2,007,054.72. The presenter said recurring vouchers were paid and that a draft 2026–27 budget will be available at the next meeting.
Mike, the IDA financial presenter, told the board the agency's cash balances at the end of June were $49,263.37 in the JPMorgan Chase checking account and $1,957,791.35 in the New York Class investment account, for total balances of $2,007,054.72. "So that's total balances in both accounts, $2,007,054.72," he said.
He noted four recurring monthly vouchers for payment this month totalling $4,008.15 and a credit-card transaction for a software subscription. He also said escrow checks were issued to pay attorneys related to an upstate closing and that the 2026–27 school-bills cycle begins in September; he expects to present a draft budget to the board at the next meeting.
A board member moved to accept the CFO report and members approved the motion by roll-call affirmation. The board also moved to accept monthly vouchers for June 2026 and recorded approval.
The IDA will review the draft 2026–27 budget at the next meeting.
