· Related development
Council approves an AEDC FY2024/25 budget limited to salaries, contractual obligations and operating expenses
Three weeks after tabling the AEDC budget, the council met in a special session and voted 4-0, with Les Simpson absent, to adopt the AEDC's 2024/2025 budget amended to include only expenditures needed for salaries, contractual obligations and operating expenses. NewsChannel 10 reported that the constrained budget would stay in place until the council received the audit and outside counsel's recommended changes.[1][2][3]
Cole StanleyDon TippsJosh CraftTom ScherlenKevin CarterAmarillo Economic Development Corporation (AEDC)
What the sources say
- ✓ Verified
Don Tipps moved and Josh Craft seconded to adopt Resolution No. 09-30-24-1 'amended to only include expenditures necessary for salaries, contractual obligations and operating expenses'. The motion passed 4-0: Cole Stanley, Josh Craft, Don Tipps and Tom Scherlen voted aye, and Les Simpson was absent. City Manager Grayson Path, AEDC Executive Director Kevin Carter and the council's special counsel presented the item.[1]
- ✓ Verified
The staff memo listed the council's options as '1) approval as presented, 2) no approval, or 3) approval with edits and/or conditions'. It recommended that the council 'provide the AEDC with guidance regarding future expenditure of funds.' The resolution states that the AEDC's bylaws require it to submit its annual budget to the City Council for approval.[2]
- ✓ Verified
Mayor Cole Stanley; Councilmember Tom Scherlen: NewsChannel 10 reported that the constrained budget took effect October 1 and covered day-to-day expenses until the council received the audit and outside counsel's recommended changes. Mayor Stanley said: 'It's a constrained budget, it approves the operating expenses, payroll or salaries, and then contractual obligations.' Councilmember Tom Scherlen said: 'we've been operating outside of state law.'[3]