EDA crunches operational budget numbers, moves scandal year audits forward

The Board of Directors met today for their regular monthly meeting. Following an approximately two-hour Closed Meeting, on a motion by Jim Wolfe and seconded by Scott Jenkins, the EDA Board unanimously agreed to add an additional $10,000 to the contract with Brown Edwards, who is completing the FY2018 and FY2019 audits, pending documentation of work completed and review by legal counsel.

Under New Business, the Board agreed to table action on updating the EDA Bylaws. The Board of Directors did pass three additional motions:

On a motion by Jorie Martin and seconded by Jim Wolfe, the EDA Board unanimously approved requesting to the Board of Supervisors an increase of three line items to the EDA’s FY2022 Operations budget:

 Professional fees-Auditor $32,500: this increase is to account for a $10,000 amendment to the Brown Edwards contract for FY 2018 and FY2019, and $40,000 to conduct the FY2020 and FY2021 audits.

 Marketing-$5,880: this increase is to account for updated plans to participate in economic development programs and site visits, as well as marketing materials.

 Maintenance-$14,310: The EDA is reimbursing the commercial tenant at 1325 Progress Drive for HVAC replacement and repairs. Additionally, the HVAC at 400 Kendrick Lane-West and 426 Baugh Drive need extensive service.

On a motion by Jorie Martin and seconded by Jim Wolfe, the EDA Board unanimously approved a Request For Proposals (RFP) to advertise for auditing services for the fiscal year 2020 and 2021.

Finally, on a motion by Jorie Martin and seconded by Jim Wolfe, the EDA Board approved reimbursing Visionary Optics, the tenant at 1325 Progress Drive, $4,500 for expenses related to HVAC replacement and repairs.

The EDA Board of Directors will have their next regular monthly board meeting via Zoom on Friday, August 27, 2021, at 8 a.m.