The Clinton County Industrial Development Authority held its first meeting of 2015 last Thursday morning at the IDA-Welcome Center. Six of seven members were on hand for the board’s regular meeting.

The board first re-elected officers, with all current officers being nominated and re-seated for another year, including Chairman Jim Soma, Vice-Chairman Keith McWhorter and Secretary Debbie Brown.

The board then conducted some routine business of voting to pay claims and bills and approving the IDA Expenditure Report.

Board member Keith McWhorter then began a brief discussion on some recent suggestions made by the USDA–which funds the Industrial Authority’s loan program–about the financial situation of the IDA.

McWhorter noted that no loans were made through the local Industrial Authority during the calendar year 2014, and there were questions about “going forward.”

Apparently one of the recommendations made to the board was to not have an independent audit conducted since no loans were being made. The most recent audit cost $8,500. Chairman Jim Soma also recommended an independent audit not be conducted this year to help save that amount.

McWhorter then made a motion to rescind a motion he had made in December to hire Campbell-Rutledge and Myers, a CPA firm from Glasgow, to conduct the audit, thus meaning no independent audit of the IDA will take place. The motion passed by unanimous vote.

Board member Barney Latham, however, stressed that although no independent audit from a private firm would do an audit, he said the USDA itself annually audits all of the Clinton County Industrial Authority’s accounts, including receipts, expenditures and all other aspects of the program. It was also noted that no discrepancies of any kind have been found in past reviews.

McWhorter then asked if the board should enter into closed session on the next matter, that being personnel, apparently pertaining to the board’s legal advisor, Terran Cross-Helm, who was present at the meeting. Although the discussion was apparently related to the legal counsel’s position, Helm did remain in the executive session in her capacity as legal counsel to the board.

After approximately 15 minutes in closed session, the board returned to open session but took no action.

Prior to the meeting being adjourned, Helm did tell the board she had been in contact with a potential loan client but it was too early in talks to disclose any further type of information.

The next regular meeting of the Industrial Development Authority is scheduled for Thursday, April 9 at 11 a.m. at the IDA-Welcome Center and is open to the general public.