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SIDA chair reports reserves, maturing CDs and royalty receipts
Summary
SIDA reported a Dec. 31 balance of $251,410.89, upcoming CD maturities (one listed at $111,734.93 maturing Jan. 28, 2026), royalty receipts (Enbridge $137,185.53), and outstanding obligations including a $150,000 town transfer.
Ron Orr, chair of the Saltville Industrial Development Authority (SIDA), presented the authority’s December financial statement to the council on Jan. 13, reporting a Dec. 31 bank balance of $251,410.89 and cash and certificate-of-deposit details.
Orr noted an incoming Enbridge royalty payment of $137,185.53 posted Dec. 26 and listed a certificate of deposit balance of $111,734.93 that matures Jan. 28, 2026. Outstanding obligations were listed, including a $150,000 town transfer for fiscal 2025–26; Orr provided preliminary budget estimates and an expected fiscal-year balance. He also noted a pending reimbursement dispute tied to town shop demolition costs and cited documents pending from Stantec to finalize the reimbursement amount.
The SIDA report and supporting financial pages were provided in the council packet. Council members had no formal action recorded on the SIDA report during the Jan. 13 meeting.
