After a year of revamping, members of the Cannon County Industrial Development Board say they have reached the point of making progress.
Those comments came Tuesday night during a review of the recently released Cannon County audit that was critical of the board’s past dealings. The period reviewed in the audit ended in June 2012, the same month the board was reconstituted. Since re-forming, the IDB has held regular monthly meetings with a voting quorum present.
“This has been a long, drawn-out period where the board came close to defaulting $450,000,” said board member Doug Bodary.
Some $900,000 was spent without an IDB vote and loans were obtained with one being paid through 2024, Bodary said.
State law says these loans should have been approved by a public referendum requiring 75 percent of Cannon County’s voters to cast a ballot in favor of the loans, he said.
“That was never done, but the loans were issued,” Bodary said.
“The board really needs to cut the drama and get a good CPA to take care of IDB’s business,” he continued. “We need to get a good accountant and focus on what we can do as a board.”
“That’s the way we need to go,” agreed IDB member Corey Davenport. “We need to cut that umbilical cord” with the county executive’s office.
Board chairman Randall Reid agreed that hiring an accountant would be a good way of handling some issues the IDB has faced.
The motion past and the IDB will be asking the County Commission March 12 for permission to hire a part-time accountant.
Read the next edition of The Cannon Courier for more coverage of the IDB.