(Adair Co) The Adair County Board of Supervisors approved a transfer resolution.
Auditor Mandy Berg explained…
The Supervisors also approved an Internal Advance Resolution, which Berg says is how much they have paid for FY25 out of the General Fund that will eventually need to be reimbursed by the TIF funds.
The Supervisors then approved the TIF indebtedness certification, which Berg must complete each year to determine the valuations and how much money needs to be TIFed for the year.
The final item approved was the Urban Renewal Annual Report that includes TIF revenues, expenditures and projects. In summary, Berg said they received over $5.4 million in TIF Revenue, $58,000 was interest, and they spent $3.1 million in expenditures. They started at $6.4 million in the TIF fund and ended with $8.8 million.
