01/13/2015 MINUTES - Laserfiche WebLink

Home Browse Search

Paris EDC Board Meeting Minutes January 13, 2015 Page 2 of 5 Stephen Grubbs stated that the PEDC's cash position was $1.192M at the end of November versus $1.088M at the beginning of November which is an increase in revenue of $103,000 (which included $29,000 for the sale of the lots on South Church Street). Don Wilson asked when the surplus sales tax from the State Comptroller would show up? Shannon Barrentine said in December's cash flow statement. John Brockman made a motion to accept the financials for the month of November as submitted; seconded by David Turner. Motion Carried 4 -0. Interim Executive Director's Report: • Status of the Texas Workforce Commission High Demand Job Training This is what the Board approved last meeting. In your packets is an email from David Vershaw dated December 18, 2014 stating that he appreciated the hard work from Mount Pleasant, Paris, and Sulphur Springs EDC's and we should hear something in the next few weeks. • Update on Lamar County Days in Austin, April 7 -9, 2015 The committee consists of herself, Dr. Pam Anglin, Chamber representative Josh Bray, Leadership Lamar President, Brian Feagley and Heather Cody, also of Leadership Lamar; Gina Crawford, Interim Chamber President and Becky Semple, Tourism Director, will join the next meeting January 21, 2015. • Industrial Managers Quarterly meeting on January 15, 2015 Industrial Managers Quarterly meeting will be Thursday, January 15, 2015 at 12:00 p.m. in the Paris Junior College Ballroom. The discussion will include Certified Work Ready Communities.and Small Business Grant Programs through the Texas Workforce Commission. • Status of 2014 Tax Abatement and Incentive Agreement Compliance Included in the packets were examples that include the Incentive Agreement Compliance letter and Potter's Tax Abatement drafted by Rebecca Clifford. Both were looked over by Shannon Barrentine and Edwin Pickle prior to the meeting. Discuss and possibly take action on adopting the Audit for FY 2013 -14 Linda Kapp, Auditor, McClanahan & Holmes CPAs told those present that she appreciated the PEDC Board allowing her firm to perform the annual audit for FY 2013 -14. Linda Kapp stated that the PEDC's assets were $3.4501M. The net position was $2,169,430. The main source of income is Sales Tax revenues. This year, we modified the PEDC's financials due to the modifications to the PEDC's line item Budget. The PEDC has 4 years left on the bond debt. The PEDC had net loss totaling $46,744 for direct business incentive (Algae Project) that was essentially written off. Overall, no items were over budget, the PEDC was in compliance. (Rebecca Clifford joined the meeting at 3:44 p.m.) Don Wilson made a motion to approve the Audit for FY 2013 -14, as presented; seconded by John Brockman. Motion Carried 5 -0.