July 2025 – Finance — 7.17.25 OCIDA Finance Committee Board Packet ================================================================== 335 MONTGOMERY STREET, FLOOR 2M, SYRACUSE, NY 13202 315.435.3770 • ECONOMICDEVELOPMENT@ONGOV.NET Finance Committee Meeting Agenda July 17, 2025 Committee Members: Susan Stanczyk (Chair), Elizabeth Dreyfuss, Pat Hogan Call to Order the Finance Committee Meeting A. Approval of Minutes: October 10, 2024 Action Items: 1. Review of 2026 Draft Budget Representative: Nate Stevens, Treasurer Adjourn Page 1 of 4 Finance Committee Meeting Minutes October 10, 2024 A Finance Committee meeting of the Onondaga County Industrial Development Agency was held on Thursday, October 10, 2024, at 335 Montgomery Street, Floor 2M, Syracuse, New York. Susan Stanczyk called the meeting to order at 8:34 AM with the following in attendance: PRESENT: Susan Stanczyk Patrick Hogan Elizabeth Dreyfuss ALSO PRESENT: Robert M. Petrovich, Executive Director Nate Stevens, Treasurer Alexis Rodriguez, Secretary Robert Schoeneck, Assistant Treasurer McKenna Moonan, Assistant Secretary Jeffrey Davis, Esq., Agency Counsel Approval of Meeting Minutes: July 18, 2024 Upon motion by Pat Hogan, seconded by Elizabeth Dreyfuss, the Committee approved the meeting minutes of July 18, 2024. Motion was carried. Action Items: 1. Self-Evaluation of the Committee Alexis Rodriguez noted that all members of the Committee completed the evaluations. Susan Stanczyk read the action requested, “A resolution of the Committee to transmit the summary evaluation without comment to the Governance Committee for review and recommendation to the Board.” Motion was made by Patrick Hogan, seconded by Elizabeth Dreyfuss. Motion was carried. 2. Review of Committee Charter Alexis Rodriguez noted that there have been no changes made to the Committee’s Charter. Page 2 of 4 Susan Stanczyk read the action requested, “A resolution of the Committee to transmit the Committee Charter without comment to the Governance Committee for review and recommendation to the Board.” Motion was made by Patrick Hogan, seconded by Elizabeth Dreyfuss. Motion was carried. 3. Draft Annual Report (2024 Fiscal Year) Alexis Rodriguez noted that the Annual Report outlined the meetings held and the activity of the Committee throughout the year. Susan Stanczyk read the action requested, “A Resolution of the Committee to transmit the Committee Annual Report without comment to the Governance Committee for review and recommendation to the Board.” Motion was made by Patrick Hogan, seconded by Elizabeth Dreyfuss. Motion was carried. 4. 2025 Agency Budget Nate Stevens noted that there have been no changes made to the budget it was presented to the Committee in July. Susan Stanczyk read action requested, “A Resolution of the Committee to transmit the 2025 Agency Budget to the full Board for adoption.” A motion was made by Patrick Hogan and seconded by Elizabeth Dreyfuss. Motion was carried. Motion to adjourn was made by Patrick Hogan and seconded by Elizabeth Dreyfuss at 8:36 AM. ___________________________________ Alexis Rodriguez, Secretary Page 3 of 4 OCIDA 2026 Draft Budget as of June 30, 2025 1. Operating Expenses/Program Expenses 2025 Budget 2025 YTD 2026 Budget Onondaga County - Contractual Support Services $ 950,000 $ 308,499 $ 950,000 General & Administrative $ 1,300,000 $ 771,307 $ 1,300,000 Other Pass-through Expense $ 3,700,000 $ 2,255,248 $ 3,700,000 Depreciation Expense $ 30,000 $ - $ 30,000 Professional Services $ 350,000 $ 50,579 $ 350,000 Marketing Expense $ 200,000 $ 23,273 $ 200,000 Other Expenses $ 200,000 $ 1,614 $ 200,000 Conferences/Project Events $ 50,000 $ - $ 50,000 Office Expenses/Meeting Expenses $ 50,000 $ - $ 50,000 Total Operating/Program Expenses $ 6,830,000 $ 3,410,520 $ 6,830,000 2. Revenue 2025 Budget 2025 YTD 2026 Budget Agency Revenues $ 2,800,000 $ 2,188,536 $ 2,800,000 Other Pass-through Income $ 3,700,000 $ 2,225,032 $ 3,700,000 Rent Income $ 15,000 $ 7,346 $ 15,000 Grant Income/Reimbursement $ 15,000 $ 9,814 $ 15,000 Other Income $ 50,000 $ 17,953 $ 50,000 Interest Income $ 250,000 $ 216,799 $ 250,000 Total Revenue $ 6,830,000 $ 4,665,479 $ 6,830,000 Revenue - Expenses $ - $ 1,254,960 $ - Page 4 of 4