October 2020 – Finance — OCIDA-10-13-20-Finance-condensed.pdf
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Onondaga County Industrial Development Agency
                           Finance Committee Meeting Minutes
                                    October 13, 2020
A Finance Committee meeting of the Onondaga County Industrial Development Agency was
held on Tuesday, October 13, 2020 at the 333 West Washington Street, Syracuse, New York in
the large conference room on the first floor.
Chairperson Victor Ianno called the meeting to order at 8:01 am with the following:
PRESENT:
 Victor Ianno
 Steve Morgan
 Patrick Hogan
ALSO PRESENT:
 Robert M. Petrovich, Executive Director
 Nancy Lowery, Secretary
 Nate Stevens, Treasurer
 Karen Doster, Recording Secretary
 Carolyn Evans-Dean, Economic Development
 Amanda Mirabito, Barclay Damon Law Firm
APPROVAL OF FINANCE COMMITTEE MEETING MINUTES – AUGUST 11, 2020
Upon a motion by Patrick Hogan, seconded by Steve Morgan, the OCIDA Finance Committee
approved the Finance Committee meeting minutes of August 11, 2020. Motion was carried.

SELF-EVALUATIONS OF THE COMMITTEE
Upon a motion by Patrick Hogan, seconded by Steve Morgan, the OCIDA Finance Committee
approved a resolution to transmit the Finance Committee summary evaluations without comment
to the Governance Committee for review and recommendation to the Board. Motion was carried.

REVIEW OF COMMITTEE CHARTER
Upon a motion by Patrick Hogan, seconded by Steve Morgan, the OCIDA Finance Committee
approved a resolution to transmit the Finance Committee Charter without comment to the
Governance Committee for review and recommendation to the Board. Motion was carried.

DRAFT ANNUAL REPORT (2020 FISCAL YEAR)
Upon a motion by Patrick Hogan, seconded by Steve Morgan, the OCIDA Finance Committee
approved a resolution to transmit the Committee Annual Report without comment to the
Governance Committee for review and recommendation to the Board. Motion was carried.

2021 AGENCY BUDGET
Patrick Hogan asked for an explanation on the year to date rent. Nate Stevens stated the year to
date rent is expensed in the books as $14,000 but is budgeted as $60,000. He stated this is simply
a lag in the billing and he expects the total to be around $60,000 this year and next year.
Upon a motion by Patrick Hogan, seconded by Steve Morgan, the OCIDA Finance Committee
approved a resolution to transmit the 2021 Agency Budget to the full Board for adoption. Motion
was carried.
Upon a motion by Patrick Hogan, seconded by Steve Morgan, the OCIDA Board adjourned the
meeting at 8:06 am. Motion was carried.
                                                  ____________________________________
                                                          Nancy Lowery, Secretary
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