IDA’s 2021 budget gets approved

JOHNSTOWN — The Fulton County Industrial Development Agency board of directors recently approved the agency’s $235,160 budget for 2021.

The board also authorized IDA Executive Director James Mraz to file the budget onto the state’s Public Authorities Reporting Information System, or PARIS. The online reporting system allows public authorities to enter their information and submit their reports to both the New York State Authorities Budget Office and the state Office of the State Comptroller, as required by law.

Mraz said the budget data includes various proposed projects and initiatives for next year. But he said they only move forward pending receipt of revenue for them.

“Those are all plugged in at various locations in the budget,” he said.

He said the approved $235,160 IDA budget for 2021 is down from the agency’s current 2020 budget of $277,810. He said the IDA hasn’t projected any sales.

“We’re trying to be on the conservative side there,” Mraz said.

Based on input provided by IDA board members at their Sept. 8 meeting, the following projects/initiatives were included into the 2021 budget: building cleanup at the Tryon Technology Park — $75,000; develop shovel-ready sites — $50,000; website upgrade — $12,000; desktop assessments — $10,000; food site certification — $7,500; and Tryon Development Area — $5,000.

Board member Mike Fitzgerald asked what the “other non-operating revenues” item in the budget meant.

Mraz answered that is the contribution that needs to be made from the IDA’s Capital Reserve Fund to balance the budget.

By Patricia Older