HomeMy WebLinkAboutCity Council Committees - Economic Development Corporation - 09/17/2002 •
KEN T ECONOMIC DEVELOPMENT CORPORATION
WA$HI N OTON
September 17, 2002
Boardmembers Present: Banister, Clark, Llewellyn, Orr, Woods
Others Present: Hillman, Jacober, Torgelson
Woods called the meeting to order at 2:00 p.m.
Approval of Minutes. Orr moved to approve the minutes of September 25,
2001. Clark seconded and the motion carried.
Election of Officers. Banister moved to keep the same officers as last year.
Orr seconded. Hillman announced that he will be leaving the City in April, but
agreed to continue serving as Treasurer until then. The motion then carried.
(The officers will be Judy Woods as Chair, Morgan Llewellyn as Vice-Chair,
Brenda Jacober as Secretary and John Hillman as Treasurer.)
Financial Report. Hillman distributed copies of the annual financial report and
budget forecast, and explained each page. He noted that assets declined by
about $2,500 from last year, that there was a loss of$6,593 in operating income
mostly due to interest rates, and that cash went from $7,778 to $159 due to
investment changes.
Hillman then explained that $8,600 was budgeted for 2002, but that probably only
$5,455 will come in, because only three corporations are now paying their
administrative fees. He noted that the main item in the 2003 forecast would be
the insurance, which went up from $3,993 to $4,194. He answered questions
regarding expenses and Llewellyn moved to approve the financial report and
budget proposal for 2003. Orr seconded and the motion carried.
It was determined for Torgelson that the EDC could consider taking a more
aggressive approach to marketing, and directed him to put information regarding
the EDC on the City's website. Clark noted that when Kent Station becomes
more of a reality, some aspect of life in Kent might be showcased.
Other Business
There was no other business to discuss.
Adjournment
The meeting adjourned at 2:12 p.m.
Brenda Jacober, City Clerk
Secretary