Fiscal Year 25 Begins
By PJ Martin
Editor
The Herald-News
The Edmonton/Metcalfe Industrial Development Authority (IDA) held a special called meeting on Monday, July 29th with board members Lisa Boswell, Terry Garrett, Matt Gallagher, and Jerry Garmon present. Also in attendance were Mayor Doug Smith, Judge/Executive Larry Wilson, and reporter PJ Martin.
Absent from the meeting were member Donna Caffee and Secretary/Treasurer Alley Bragg.
Chairperson Lisa Boswell presented the monthly financial statement for dates June 17th through July 29th with the Department of Local Government (DLG) fee of $500 paid on 7/9/2024 and the KACo 24-25 Insurance Policy renewal payment of $5,736.06 paid on 7/26/2024. The final account balance was $11,441.90.
Boswell then presented the FY 24 end-of-year actual statement as compiled by Bragg.
Total revenues – Estimated $285,248.95 Actual Revenues $287,803.41
Total available – Estimated $287980.63 Actual Available $290,535.09
Total Appropriations – Estimated $241,546.63 Actual Appropriations $257,737.89
Bragg had previously questioned the DLG about the online portal stating an audit was missing. Rebecca Morton of the DLG explained the audit triggering process and advised that the SPGE (IDA) needs to schedule an audit for FY2019. The audit is being taken care of by Bragg.
Mayor Doug Smith has asked Luke Wilson to be a member of the IDA board and he has agreed. The appointment must be approved by the Edmonton City Council at their next meeting on Monday, August 5th before he can officially become a member of the board.
Member Jerry Garmon was tasked with inspecting the White Oak trees at the South Industrial Park for possible sale. He reported that the White Oaks on the property have lower branches and are not suitable for veneering. They are not usable by the stave factory. He did report seeing several Red Oak.
Garmon also asked about the scrap heap in the rear of the property to which he was told about the cement containing rebar that was busted out and replaced in order to pass inspection. The scrap cement was used to fill a gully on the property. Mayor Smith noted that that part of the property is Pennington’s when the Cooperage comes in.
Boswell provided each individual with a copy of the Summer Shade Solar pages from Candela Renewables to familiarize themselves with the company.
The next scheduled meeting of the board is August 19th at 2 p.m. at City Hall.
