County of Chautauqua Industrial Development Agency (CCIDA)
201 W Third, Jamestown, NY
February 5, 2018
CCIDA Staff Present:
Richard Dixon, Interim-Director/CEO/CFO
Sue Casel, Adm. Assistant
Committee Members Present:
Kelly Farrell DuBois
Dave DiTanna, BWB
Justin Isaman, BWB
Rhiannon Carnahan, BWB
Meeting was called to order at 9:08 a.m.
Justin reviewed a PowerPoint discussing the scope of the audit and their responsibility.
Dave said changes include revenue recognition and capitalized lease standards. These will be looked at; however, they don’t take effect for a few years.
Dave also said that because of the AL Tech Loan fund, we are required to do a Federal Single Audit this year confirming new loans and balances of paid off loans.
Structure of PILOT agreements with windfarms and Athenex will be looked at to determine recognition of revenue.
Major events 2017:
Sale of Harrison Street
Dunkirk Airport FBO
Rand Machine Loan
Mike discussed the possibility of an internal control evaluation.
Audit Committee to meet March 19th, 2018 at 10:00am
Audit Presentation – March 27th at Board Meeting.
Meeting adjourned – 9:52 a.m.