Barren County Economic Authority discussed financials, new fundraising program

By MICHAEL CRIMMINS
Glasgow News 1

The Barren County Economic Authority met recently to discuss financials and future developments for the county.

The authority met in its office in Glasgow City Hall. The meeting was attended by numerous Barren County business leaders, such as Larry Glass, as well as other influential people in the county including Glasgow Mayor Henry Royse, Glasgow City Council member Terry Bunnell, Barren County Judge Executive Jamie Bewley Byrd and Cave City Mayor Dwayne Hatcher.

Maureen Carpenter, president and CEO of the authority, presented those at the meeting with the “unaudited” financial figures. She said, the authority currently has a balance of $1,828,413 with the economic development fund having more than $90,000. She added there was nothing unusual in the expenses.

In that same financial vein, Carpenter recommended to keep the authority’s funds in South Central Bank, where they currently reside.

“All of our funds are currently held…at South Central Bank,” Carpenter said. “I would recommend that we retain those accounts. They are earning interest.”

During her reporter, Carpenter also said on the chamber side things were in good shape with 83 current members, 17 away from the goal of 100 business members.

“That’s about 33 above where we were last year,” Carpenter said. “A lot of momentum out there for the chamber and what we are doing.”

She also discussed a new program beginning this year with the goal of raising funds for the Leaders of the Future program.

“This program is to fund The Leaders of the Future, which is our youth leadership program,” Carpenter said. “Last year the leadership class raised $20,000 to help do the new disc golf course so we’re doing a battle of the Barrens disc golf. Our goal with this is to hit a different market, but also to raise money for that program”

Overall, Carpenter said, things on the business side looked good.

The board also went into closed session “for deliberations on the future acquisition or sale of real property by BCEA” and “for discussions concerning a specific proposal” as provided by the Kentucky Revised Statute 61.810 “when publicity would be likely to affect the value of a specific piece of property to be acquired or sold, if open discussions would jeopardize the siting, retention, expansion, or upgrading of the business.”

The next meeting is scheduled for Aug. 11 at City Hall.