RIGGINS URBAN RENEWAL AGENCY
July 13, 2017 – 6:15 p.m.
The regular meeting of the Riggins Urban Renewal Agency was called to order by Chairperson Glenna McClure. Other Board members present were Matt Sinclair, Carolyn Friend, Gary Miller and Jonny Wilson. 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 Friend to approve the minutes as presented; seconded by Miller; voting yea, Sinclair, Wilson, McClure, Friend and Miller. No nays; motion carried.
FINANCIAL STATEMENT: The financial statement was read detailing the 3/31/17 cash balance of $8,751.10, with $534.46 in receipts, and $6,225.00 in disbursements, leaving a cash balance of $3,060.56 as of 6/30/17. Cash in the Sewer Obligation Reserve showed a beginning balance of $18,148.85; interest of $37.56, a contribution of $6,000.00, and a withdrawal of $10,000.00 for the Bond Payment, leaving a balance of $14,186.41. Friend made a motion to approve the Financial Statement; seconded by Sinclair; voting yea, Miller, Sinclair, McClure, Friend and Wilson. No nays, motion carried.
DISBURSEMENT OF FUNDS: Motion was made by Sinclair to pay $225 for July through September 2017 Administration, and contribute $2,000 to the Sewer Obligation Reserve leaving a balance of $835.56 in the checking account. Motion was seconded by Miller; voting yea, McClure, Sinclair, Wilson, Miller, and Friend. No nays, motion carried.
FY18 BUDGET: Reviewed the proposed budget for FY17-18 (October 1, 2017 to September 30, 2018.
Revenue: Developer Advance $2,510,000, Property Tax Increment $12,199, Cash Carryover $20,687 = $2,542,886.
Expenditures: Future Capital Improvements $2,430,000, Water Study $80,000, Administration $900, City-Sewer Obligation Reserve $10,000, Other expense $21,986 = $2,542,886.
Motion was made by Miller to tentatively accept the proposed budget as presented and to publish a legal notice of the public hearing and budget; seconded by Friend. Voting yea, Miller, Sinclair, Wilson, McClure and Friend. No nays; motion carried.
BUDGET PUBLIC HEARING: A Public Hearing on the proposed budget is scheduled for Wednesday, August 9th at 6:15 p.m. The budget will be considered for approval following the Public Hearing.
There being no further business, the meeting was adjourned at 6:30 p.m.
Brenda Tilley, Clerk