04/21/2015 MINUTES - Laserfiche WebLink

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PEDC Board Meeting Minutes April 21, 2015 Page 2 of 3 Approval of February 2015 and March 2015 financials Shannon Barrentine told those present that she had not received financials for March, yet. She stated that discussion at the last meeting regarding bond debt payments of $50,000 in February (at the urging of Rebecca Clifford to research) showed the bond payment was posted twice. Gene Anderson, Finance Director, had corrected the error and February's cash flow reflects the correct amount. At the end of February 2015 the cash, petty cash and other investments totaled $1,611,025.36. David Turner made a motion to accept the financials for February; seconded by Don Wilson. Motion Carried 4 -0. Interim Executive Director's Report: Status of Texas Workforce Commission High Demand Job Training Program through Workforce Solution of Northeast Texas grants application. Shannon Barrentine read an email from Dr. Pam Anglin stating the NEEM certification license for machining was added to the budget for the grant application last week. Randy Reed of Northeast Texas Workforce Solution made amendments to the budget and resubmitted for the grant application to the Texas Workforce Commission. Status of WorkKeyso Assessment for Certified Work Ready Communities Initiative Paris Junior College is scheduled to continue testing Paris High School students in the next few weeks. 80% of PISD Juniors are signed up to take the assessment in May. Roxton and the other school districts want to wait until fall and test their juniors and seniors then. Report on Lamar County Days in Austin, April 7,8 & 9, 2015 Lamar County Days Itinerary /Agenda along with the Resolutions from the House, Senate and picture with Rep. Gary VanDeaver were included in the packet. Photo with Senator Kevin Eltife is on its way. In the follow up meeting held on April 17a' changes were discussed to make improvements to the 2017 Lamar County Days event. Both the Chamber and the PEDC budgeted $6,500. The Chamber spent $5,234.49 and the PEDC spent $5,100.48 we were within our budget. • Industrial Managers Quarterly meeting is Thursday, April 23, 2015 This meeting is for the PISD students to discuss the WorkKeys Assessment and have industry give them feedback on what skills they are looking for in their current workforce. • Status of 2014 Tax Abatement and Incentive Agreement Compliance Shannon Barrentine stated that she received T &K Machine documents for2014 this week. The compliance committee had an onsite visit with BodyGuard and agreed that they are in compliance except for the letter from the bank. Discuss and possibly take action on transferring excess reserves from the I & S Fund (Debt Service) to the PEDC operating account in the amount of $100,000. John Brockman stated that the excess funds should be transferred to the operating account in case the PEDC Board needs to use it in the near future. The Board would have to vote before the money could be used. Rebecca Clifford asked why the PEDC is still putting money in the I &S reserve account if it is over funded? Rebecca Clifford stated that she would talk with Gene Anderson and bring the information back to the next meeting May 12, 2015. Don Wilson made a motion that the $100,000 be transferred from the reserve fund to the operating fund; seconded by David Turner. Motion Carried 4 -0.