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IDA accepts proposed 2026 budget and authorizes CFO to submit it to Board of Budget Office
Summary
The chief financial officer presented the proposed 2026 budget (noting adjusted investment earnings and higher professional services costs); the board accepted the proposal and authorized the CFO to submit the budget to the Board of Budget Office.
The Industrial Development Agency reviewed and accepted its proposed 2026 budget. The chief financial officer explained adjustments to investment-earnings assumptions and increased professional services costs tied to the IDA's annual audit, then presented the proposed figures to the board; after discussion the board moved to accept the proposal and approved it by voice vote.
The Chair then asked for and obtained a motion to authorize the chief financial officer to submit the IDA's 2026 budget to the Board of Budget Office. The motion carried. In the transcript the CFO described the proposed year as running a projected negative figure pending final admin fees and incoming revenue: "So, we are running a negative $1.18 $1.72 for proposed but that's pending any admin fees, revenue that's coming in, which we don't know." The transcript also records the Chair naming 'Anthony' as the person to send the budget.
