The Clinton County Industrial Development Authority (IDA) met last Thursday morning, July 13 with five of seven members present. Also present for the just over half-hour meeting, held via Zoom, was IDA Executive Director April Speck and Clinton County Judge/Executive Ricky Craig.
After approving previous board minutes and voting to pay claims and bills, IDA Director Speck reviewed the Fiscal Year 2022-23 budget with board members and presented estimates versus actual cost. She also discussed the interest income accrued from 2021 to present.
The board agreed to have Speck reach out to Cheryl Clay with USDA (United States Department of Agriculture) on the protocol on pulling interest income. Also, board member Barney Latham suggested reaching out to all three local banks to see what interest rates are.
The Executive Director then advised the board that Brad Cross was interested in cleaning out the landscaping at the Welcome Center location, with the board recommending Cross provide an estimate for the cost.
Under new business, Speck discussed splitting the Kentucky State Fair cost one-third between the Chamber of Commerce, Clinton County Tourism Commission and IDA.
A delegation of local members from the aforementioned organizations promote Clinton County’s tourism, industry and other aspects of the county at the state fair held each August in Louisville.
A motion was made by Latham, seconded by Shane Smith, to contribute (an estimated) $1,000 in Industrial Authority funds, or one-third of the cost, in conjunction with the other entities. The motion passed unanimously.
The board then unanimously approved the 2023-24 FY budget, with some minor changes over the past year that ended June 30.
Speck went over the budget, noting the modifications from the 2022-23 year, primarily each donation specific item having its own line item, for example, the Fireworks Show sponsorship, Foothills Festival contribution and others.
Board Chairman Randy Jones then recommended the Executive Director receive a 3% salary increase due to the cost of inflation.
Board member Latham made the motion to grant the salary increase, with the stipulation it be reflected in the current year’s budget. The motion was seconded by Dawn Tompkins and passed by unanimous vote.
In other business:
* Latham said he had received positive feedback regarding the fireworks show held on July 8 and commended Lamon Hubbs for his work;
* On a motion by Randy Speck, entered into a brief, eight minute closed session for a loan review with no action being taken upon returning to open session.
Following the executive session, the meeting was adjourned.
The next regular meeting of the Clinton County Industrial Development Authority (IDA) is scheduled for Thursday, September 14, (may be via Zoom) at 11 a.m. at the Welcome Center. The meeting is open to the public.
(If the meeting is via Zoom, please contact IDA Director April Speck at 606-387-5512 for directions on how to join in on the meeting.)