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CACEDA board meets briefly. OKs 2016-2017 budget

Board approves $57,700 in expenditures, which includes $35,000 contribution to sewer project at Green River Commerce Park, and $14,000 as three-way shared expense, with Chamber and Travel Commision, for operation of Chamber Building.
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By Ed Waggener

The Board of the Columbia/Adair County Economic Development Authority held a brief meeting this morning to approve the authority's 2016-2017 budget, presented by Treasurer Mike Curry.

The $57,700 budget was unanimously approved on a motion by Member Dean Adams and a second by Kinzie Rowe, with Chairman Mark Dykes, Ann Martin, and Mike Curry joining in affirming.



Other expenses include professional expenses, $3,000; marketing expenses, $3,000; travel expenses, a new provision in the budget, $2,500; and Kentucky unemployment insurance $1,200. EDA member Ann Martin was to clarify whether the EDA would need to contribute to this fund. The EDA now has no employees, but Mr. Curry was unsure whether the $1,200 should be added to its $14,000 one-third contribution or not.

The projected ended balance of $142,225.56 was exclusive of a $30,000 lease payment for land used for cropland in the industrial park. That would make the ending balance $172,225.56 on June 30, 2017, up from the June 30, 2016 ending balance of $169,725.76.

The board's next meeting will be at 8amCT, Jul 19, 2016, when Rodney Hitch will be the guest to bring the board up to date on help available through Southeast KY Power.


This story was posted on 2016-06-30 09:42:28
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