RIGGINS URBAN RENEWAL AGENCY
July 15, 2015 – 6:30 p.m.
The regular meeting of the Riggins Urban Renewal Agency was called to order by Board Chairperson Glenna McClure. Other Board members present were Matt Sinclair, Carolyn Friend, Jonny Wilson and Gary Miller. Board Member, Roy Akins, was absent.
PREVIOUS MEETING MINUTES: The minutes of the previous meeting were presented and members individually polled, all agreeing they had reviewed the minutes. Motion was made by Wilson to approve the minutes as presented; seconded by Miller; voting yea, McClure, Sinclair, Wilson, Miller and Friend. No nays; motion carried.
FINANCIAL STATEMENT: The financial statement was read detailing the 3/31/15 cash balance of $9,268.36, with $0.00 in receipts, and $7,225.00 in disbursements, leaving cash balance of $2,043.36 as of 6/30/15. Cash in Sewer Obligation Reserve showed a beginning balance of $13,515.77; interest of $7.11, a deposit of $7,000.00, and a disbursement of $10,000.00, leaving an ending balance of $10,522.88. Sinclair made a motion to approve the Financial Statement; seconded by Miller; voting yea McClure, Sinclair, Wilson, Miller and Friend. No nays, motion carried.
DISBURSEMENT OF FUNDS: At this time, motion was made by Friend to pay $225 for July through September 2015 Administration leaving a balance of $1,818.36 in the checking account. Motion was seconded by Wilson; voting yea, McClure, Wilson, Sinclair, Friend and Miller. No nays, motion carried.
PROPERTY TAX REVENUE: At this time, it was requested that the Clerk contact Idaho County to research why no revenue was received in the quarter.
FY15-16 BUDGET: Reviewed the proposed budget for next fiscal year:
Developer Advance $2,510,000
Property Tax Increment 13,200
Cash Carryover 17,005
TOTAL REVENUE $2,540,205
Future Capital Improvements $2,430,000
Water Study 80,000
City-Sewer Obligation Reserve 10,000
TOTAL EXPENDITURES $2,540,205
Motion was made by Miller to tentatively accept the budget; seconded by Wilson; voting yea, McClure, Wilson, Miller, Friend and Sinclair. No nays; motion carried. A Public Hearing on the tentative budget will be held Monday, August 10, 2015 at 6:30 p.m.
There being no further business, the meeting was adjourned at 6:45 p.m.
Brenda Tilley, Clerk