Troy Local Development Corporation

Audit & Finance Committee Meeting Minutes September 20, 2019 9:00 a.m. BOARD MEMBERS PRESENT: Andy Ross, Hon. Monica Kurzejeski, Hon. David Bissember and Steve Strichman ABSENT: Heidi Knoblauch ALSO IN ATTENDANCE: Justin Miller, Esq., Dylan Turek, Mary Ellen Flores, Ken Crowe, Deanna Dal Pos and Denee Zeigler The audit and finance committee meeting was called to order at 9.27 a.m. following the regular board meeting. I. DRAFT Budget Presentation Mr. Strichman presented the draft budget to the board members and noted that it will have to be adopted at the next meeting and submitted to the ABO by October 31, 2019. He noted that the budget will be discussed at future meetings in order to keep it up to date. Mr. Strichman noted revenue coming in as part of working with the IDA on projects, loans and the County Waste lease. For the years 2020 and going forward, there is an estimated projection. Mr. Miller asked about the upcoming expenditures related to the King Fuels site; asked that the IDA funding be added in. Mr. Bissember asked about grants and donations. Mr. Strichman explained it is an estimate of the sponsorships based on what we have given in the past. Mr. Ross asked if the façade program was still showing. Mr. Strichman advised no. Ms. Kurzejeski explained that was a popular program. Mr. Bissember agreed and advised if we get funding, we should start it up again. II. Adjournment of Audit & Finance Committee With no additional business to discuss, the audit and finance committee meeting was adjourned at 9:37 a.m. Steven Strichman made a motion to adjourn the audit and finance committee meeting. Hon. David Bissember seconded the motion, motion carried. 1