2012 Finances, 2013 Planning

I attended the Wayne County Council and Commissioners workshop this week and gave an update on EDC activities as well as a summary of our 2012 finances. As part of our efforts to be more transparent, I wanted to share the same financial information with you. Below is the financial picture for 2012.

Year End Operating: We were under budget by $212,070

Year End Discretionary: Funds unexpended totaled $69,762 (as a reminder, this will be the last year you see a Discretionary Fund balance as those funds were removed from our 2013 budget).

Encumbered Funds – $49,166 (from Operating and Discretionary Funds)

Total Refunded from 2012 to the Consolidated EDIT Fund – $233,932.28

We encumbered funding from both Discretionary and Operating to do a number of projects. This will allow us to reduce the impact on our 2013 budget and still accomplish some very important tasks. Those projects include:

  • New sign for Sugar Creek Packing Co. at the Gateway Industrial Park entrances
  • Soil borings in Phase II of the Midwest Industrial Park for a more comprehensive view of soil conditions
  • Updates to our 2011 Target Industry Reports