ST. LAWRENCE COUNTY
INDUSTRIAL DEVELOPMENT AGENCY
Ernest J. LaBaff Industrial Building ~ 19 Commerce Lane, Suite 1 ~ Canton, New York 13617
Phone: (315) 379-9806 / TDD: 711 ~ Fax: (315) 386-2573 ~ www.SLCIDA.com
MEMORANDUM
MEMBERSHIP
CHAIRMAN
Brian W. Staples
To:
John Burke
IDA Representative to the County Legislature
From:
Patrick J. Kelly
Chief Executive Officer
Date:
September 16, 2015
Re:
Reports to the Legislature
Brian Staples, CPA

VICE CHAIRMAN
Ernest LaBaff
President Emeritus,
Aluminum Brick & Glass
Workers International Union

SECRETARY
Lynn Blevins
Blevins Brothers, Inc.

John Burke
St. Lawrence County
Board of Legislators

Pursuant to our Economic Development Services Agreement, attached please find the
following:
 Semi-Annual Mission and Performance Review (January 2015 – June 2015)
 Unaudited Financial Statements for the Period Ending June 2015.
Please feel free to contact me if you have any questions.
Mark C. Hall
Town of Fine, New York

CC:
St. Lawrence County Legislators
St. Lawrence County Administrator
Andrew McMahon
Massena Electric Department

R. Joseph Weekes, Jr.
Weekes Agency

CHIEF EXECUTIVE
OFFICER
Patrick J. Kelly
St. Lawrence County
Industrial Development Agency

CHIEF FINANCIAL
OFFICER
Thomas A. Plastino
St. Lawrence County
Industrial Development Agency
This institution is an equal opportunity provider, and employer. To file a complaint of discrimination, write to: USDA, Assistant Secretary for Civil Rights, Office of the
Assistant Secretary for Civil Rights, 1400 Independence Avenue, S.W., Stop 9410, Washington, DC 20250-9410. Or call toll-free at (866) 632-9992 (English) or (800)
877-8339 (TDD) or (866) 377-8642 (English Federal-relay) or (800) 845-6136 (Spanish Federal-relay).
St. Lawrence County Industrial Development Agency
Mission Statement
(Reviewed and Reaffirmed in Public Session on March 26, 2015)
The mission of the St. Lawrence County Industrial Development Agency is to promote,
encourage, attract and develop job opportunities and economically sound commerce and
industry in St. Lawrence County. To accomplish its mission, the IDA constructs and owns
industrial sites and buildings, administers loan packaging and industrial revenue bond
financing and provides a variety of tax-reduction incentives.
Performance Goals

To create new employment opportunities for St. Lawrence County citizens through the
attraction of or the creation of new businesses

To create new employment opportunities for St. Lawrence County citizens through the
expansion of existing businesses

To retain existing employment opportunities

To leverage the greatest level of private investment in St. Lawrence County businesses

To educate County businesses, elected officials and community representatives regarding
available economic development resources

Act as a liaison with businesses and government to help coordinate economic development
services and reduce bureaucracy

Work cooperatively with area economic development agencies to market County assets and
economic development resources to potential new or expanding businesses

Ensure a transparent and accountable operation with responsibly-managed Agency assets
2015 Performance Review (January 2015 – June 2015)

The IDA completed three orientation sessions with new County Legislators which included site
visits to ACCO, Riverside Iron, and Curran Renewable Energy.

As part of our Public Authority Law compliance program, we conduct annual reviews of our
policies regarding Property Disposition, and Investment of Funds, and Procurement.
Additionally, the Governance Committee reviewed the Code of Ethics, Whistleblower, Defense
& Indemnification, and Compensation, Reimbursement & Attendance policies. A Conflicts of
Interest policy for board members and employees was formalized in 2015, as part of its goal of
integrity and transparency of its operations. Performance documents for 2014 were also
reviewed. These reviews took place in the first quarter of 2015.

Through the first half of the year, staff have made approximately 1036 contacts with 375
existing and prospective firms and organizations. This includes site visits to business customer
locations as part of our annual reporting process to New York State, as well as our general
business outreach efforts.

Board members approved the 2014 Independent Audit reports in March of 2015. The reports
showed no findings. Legislators have been provided the reports electronically. In addition, the
reports are available on our website at www.SLCIDA.com.

Staff, along with the City of Ogdensburg and OBPA met with representatives of the
Ogdensburg-based Ansen Corporation, shortly after Ansen’s announcement of its intention to
purchase property in Syracuse. We have worked with the Company historically and are trying
to assist them in undertaking an expansion locally.

DeFelsko Corporation applied to SLCIDA for financial assistance in the form of Sales and Use
Tax Exemptions and a PILOT relative to the company’s expansion project in Ogdensburg in
2014. The PILOT documents were executed in March of 2015. The project is expected to create
at least 15 new jobs over the next three (3) years.

Cives Steel Company, Northern Division received a Sales and Use Tax Exemption as part of
the Company’s purchase of a robotic plasma cutting system. The Company’s investment in its
Gouverneur facility will help make the company more competitive in the steel fabricating
industry and help secure the 130 full time jobs at the plant.

Hozmerica, LLC received $17,500 in financing from the SLCIDA Local Development
Corporation through the St. Lawrence River Valley Redevelopment Agency Fund (RVRDA).
The project will assist Hozmerica to strengthen its operations by upgrading its services,
enhance efficiency, increase its customer base, and ultimately create 1 full time and 1 part time
job. The property is also located in a Brownfields area and a focus redevelopment area for the
City of Ogdensburg.

Hoosier Magnetics was authorized to receive $100,000 in financing from the SLCIDA Local
Development Corporation through the RVRDA Fund, to assist the company with its continued
investment in the 32,000 sq. ft. facility in Ogdensburg. The Company’s replacement of its 60year old Calciner, along with the addition of a second dust collector, will help the Company to
secure long-term contracts for work, thereby strengthening its operation and remaining a
significant presence in St. Lawrence County. The SLCIDA is also assisting Hoosier as the
Company submits applications through the Regional Economic Development Council’s
Consolidated Funding Application (CFA) process.

Termination and transfer documents from Kinney Drugs’ 2004 expansion project were executed
and filed in 2015. Originally 100% tax-exempt property, the property is now wholly-taxable,
and has added approximately $550,000 to the tax base, which will result in revenues of
approximately $19,000 per year to the taxing jurisdictions.

Corning, Inc.’s expansion at the Canton plant was completed this year. The project will not
only create 40 new jobs over the next three years, but Corning’s investment will strengthen its
Canton plant operation and provide additional stability and security for the local plant.

In April, the SLCIDA hosted the NYS Department of Labor’s Paul Nelson at a meeting with key
business leaders in St. Lawrence County. Mr. Nelson provided an overview of Governor
Cuomo’s Unemployment Strikeforce Initiative to over 30 attendees.

The SLCIDA hosted a seminar and discussion on the Upstate Revitalization Initiative and
Consolidated Funding Application process with a dozen area businesses and economic
developers.

The SLCIDA authorized an application for $250,000 in grant funds through the Northern
Border Regional Commission, in support of funds awarded through New York State’s CFA
process, to assist in the rebuilding of rail crossings on the Newton Falls Rail.

The SLCIDA has contracted with DANC to provide project management services for Phase 2
of the rail rehabilitation, as the Authority has the technical and engineering expertise to assist
in managing the project, and is unique in that its service territory is the same territory which
the rail line traverses.

The SLCIDA, noting that improved transportation corridors provide for more efficient
movement of travelers and goods, and in doing so relieve traffic congestion and improve public
safety, conveyed its ongoing support of upgrades to the existing Route 11 and construction of a
well-planned, Canton Potsdam bypass route.

SLCIDA is facilitating discussions between the Town of Gouverneur and St. Lawrence Gas
Company to try to assist in the extension of natural gas service along Route 11 on the southside
of Gouverneur.

SLCIDA continues to work with County and Regional officials regarding the transfer of the
J&L properties to an LDC for their eventual redevelopment.

Trade Warehouse, Inc., a Canadian-based paper products company, is leasing 1,700 sq. ft. of
space in the Massena Industrial Park’s Lot 19 building. Purine Pharma and Fockler Industries
are also leasing space within the building.

LC Drives, an electrical machine technology firm, is leasing space in the SLCIDA’s Potsdam
Commerce Park building. National Coffee Corporation, a coffee-roasting operation and
Clarkson University are also leasing space in the building. The SLCIDA continues to provide
space within the Potsdam building to enable St. Lawrence County to store pallets of emergency
food rations.

At the SLCIDA’s Annual Meeting, the following officers were elected to a one-year term: Brian
W. Staples (Chair); Ernest J. LaBaff (Vice-Chair); Lynn Blevins (Secretary), Patrick J. Kelly
(CEO) and Thomas A. Plastino (CFO). The firm of Silver and Collins was reappointed as
General Counsel.

As part of a study of economic development opportunities in St. Lawrence County, the SLCIDA
continues to provide assistance for both the McKinsey Group (NYPA initiative) and SKEO
Solutions (BOA initiative) with stakeholders throughout the County to gather perspectives on
the current economic situation and areas for potential growth.

SLCIDA staff continue to actively participate in the Regional Economic Development Council
(REDC) and Upstate Revitalization Initiative processes, as evidenced by a co-leadership role
in the REDC’s Global North Country Committee, and by membership roles in the Opportunity
Agenda Working Group, the Priority Project Implementation Committee, the Workforce
Committee, the Transportation & Infrastructure Committee, the Small Business/Community
Development Committee, and the Advanced Manufacturing & Leadership Group.

During a joint RVRDA/SLCIDA-LDC meeting in June, a total of $446,306 in funding through
the RVRDA’s Community Development and Environmental Improvement Program was
awarded for the following projects:











North Country Children’s Museum was awarded $75,000 in grant funds to help design
equipment and install technology components for the Regional Arts & Interactive Learning
(RAIL) Revitalization Project.
Norwood Village Green Concert Series was awarded $5,902 in grant funds to assist in the
completion of the new lighting system for the band shell.
St. Lawrence Power & Equipment Museum was awarded $65,000 in grant funds to assist
in the construction of an equine pavilion on the Museum grounds in Madrid.
St. Lawrence County Chamber of Commerce was awarded $35,100 in grant funds to be
used to purchase and install 93 NYSDOT-approved signs for the St. Lawrence County Wine
Trail.
The Town of Louisville was awarded $38,000 in grant funds to assist with interior and
exterior work to the buildings and grounds of the Louisville Community Center.
The Town of Massena was awarded $25,000 in grant funds to assist in the replacement of
the failing portion of the Town’s water distribution system.
United Helpers Mosaic was awarded $102,304 in loan financing to assist with the final
phase of its Mosaic Complex Renovation project, which will provide energy improvements
in the remainder of their building, and to add a solar energy component to the project.
The Village of Canton was awarded $25,000 in grant funds to assist in an extension of a
new water main line infrastructure connection along Route 11.
The Village of Heuvelton was awarded $15,000 in grant funds toward the development of a
localized marketing plan to identify and recommend economic development opportunities
for the “Blueway Trail” along the Oswegatchie River.
The Village of Waddington was awarded $60,000 in grant funds toward the Bass 2015 Elite
Tournament.
The SLCIDA also continued aggressive marketing efforts, as follows:
o Outreach of select Canadian businesses in Ontario and Quebec to generate interest and
possible expansion into St. Lawrence County through trade shows, events, and advertising.
o Outreach of select businesses in Massachusetts, Connecticut, New Jersey and Pennsylvania
in conjunction with trade shows to generate interest and possible expansion into St.
Lawrence County including over 3,725 direct mail pieces. Coordination with local colleges
to outreach alumni via email communication in those geographic areas to encourage them
to visit our booth at trade shows and consider a business location in St. Lawrence County.
o Direct mailing to 18 Canadian Circuit Board Companies following the EpTech Montreal
event, highlighting advantages for business expansion in St. Lawrence County.
o Continued promotion of low-cost power available through the NYPA Preservation Power
and St. Lawrence County Economic Development Power programs through a series of
mailings, advertisements, trade show displays, site visits and other outreach activities.
o Facilitated Countywide Economic Developers’ Marketing meeting to ensure coordination
of marketing efforts, strategic objectives and general operating activities of the local, county
and regional developers.
o Maintained memberships in Canadian trade organizations to facilitate access to events and
to maintain key contacts with Canadian companies and multiplier organizations.
o Advertising and media promotion pieces created and utilized, including placements in
North Country This Week, Watertown Daily Times, St. Lawrence County Newspapers.
o The SLCIDA was awarded a $50,000 grant through National Grid’s Strategic Economic
Development Outreach program to enhance our Canadian marketing efforts from June
2014 through June 2015.
o Sponsorship, coordination and/or attendance through June at 11 trade shows/marketing
events in New York, New England and Canada:

Economic Fusion

(SUNY Potsdam)

Select USA
(Potsdam)

(Washington, DC)

EpTech
PackEx

CANECT
(Mississauga)

Women’s Business Bootcamp
(SUNY Canton)

(Toronto)

EASTEC
(W. Springfield, MA)
(Montreal)

The Really Big Show
Atlantic Design & Manufacturing
(New York)

North Country Symposium
(St. Lawrence University)
CANSEC
(Ottawa)
o Since 2007, SLCIDA has partnered with the Fort Drum Regional Liaison Organization,
DANC, Jefferson County LDC and Lewis County Economic Development to undertake a
regional marketing initiative entitled Drum Country Business. SLCIDA agreed to extend
this commitment through 2016 and committed $5,000 annually to the initiative. Drum
Country Business engaged Gruber Phillips in March 2015 to make direct calls to businesses
within the target industries of the region. The targeted industries are back office, renewable
energy, food processors, general manufacturers and energy-intensive users. To date, Drum
Country Business has had 26 calls, and has shared information with company executives
on locations within the region including St. Lawrence County. We will continue to follow
up on these calls to develop leads over the course of time.
St. Lawrence County Industrial Development Agency
Balance Sheet
As of June 30, 2015
Jun 30, 15
ASSETS
Current Assets
Checking/Savings
200 · Cash
200P · Cash - Payroll Checking Account
131,914.44
27,712.11
201 · Cash in Time Deposits
1,722,153.93
203 · Cash - Rental Deposits
5,692.10
Total Checking/Savings
1,887,472.58
Other Current Assets
211 · Special Reserve
220 · Due from Affiliate Agencies
Total Other Current Assets
Total Current Assets
2,000,000.00
1,541.22
2,001,541.22
3,889,013.80
Fixed Assets
111 · Gouverneur Industrial Park
111-A · Gouverneur Industrial Park
Total 111 · Gouverneur Industrial Park
74,139.65
74,139.65
112 · Vehicles
112-A · Vehicles
112-B · Vehicles Depreciation
39,577.50
-27,989.00
Total 112 · Vehicles
11,588.50
119 · Massena Industrial Park-Lot 12
40,963.08
122 · Furnishings
122-A · Furnishing
122-B · Furnishing Depreciation
Total 122 · Furnishings
27,096.04
-22,598.41
4,497.63
125 · Massena Lot 20
125-A · Massena Lot 20 Building
125-B · Massena Lot20 Bldg Depreciation
Total 125 · Massena Lot 20
715,515.78
-162,481.67
553,034.11
126 · Potsdam Commerce Park
126-A · Potsdam Commerce Park Bldg
126-B · PCP Bldg Depreciation
Total 126 · Potsdam Commerce Park
890,509.28
-181,812.30
708,696.98
127 · Massena Lot 17
127A · Massena Lot 17 Building
408,000.00
127-B · Massena Lot17 Bldg Depreciation
-62,900.00
Total 127 · Massena Lot 17
345,100.00
128 · Canton Industrial Park
128A · Canton Industrial Park - Land
Total 128 · Canton Industrial Park
166,250.00
166,250.00
129 · Canton Industrial Building
129-A · Canton Industrial Building
129-B · Canton Industrial Bldg Improv
129-C · Canton Ind Bldg - Depreciation
2,058,514.19
6,960.27
-106,575.45
St. Lawrence County Industrial Development Agency
Balance Sheet
As of June 30, 2015
Jun 30, 15
Total 129 · Canton Industrial Building
Total Fixed Assets
1,958,899.01
3,863,168.96
Other Assets
Construction in Progress (CIP)
256 · CIP - Canton Ind Park
257 · CIP - Improvements CIB
Total Construction in Progress (CIP)
568,643.52
4,700.00
573,343.52
Mortgage Receivable (M/R)
503 · M/P - Media Acc(GMEDF M/R Payt)
Total Mortgage Receivable (M/R)
99,238.03
99,238.03
Notes Receivable (N/R)
450 · N/R - North Country Grown RBEG
7,597.32
483 · N/R - ATL - Tamarack Building
16,840.01
497 · N/R - High Peaks Winery RBEG
2,731.36
499 · N/R - Fockler Equip Lease
502 · N/R- SL Brewing Equip Lease
Total Notes Receivable (N/R)
Total Other Assets
TOTAL ASSETS
44,335.49
8,109.00
79,613.18
752,194.73
8,504,377.49
LIABILITIES & EQUITY
Liabilities
Other Current Liabilities
2100 · Deposit - Rental
Total Other Current Liabilities
Total Current Liabilities
5,692.10
5,692.10
5,692.10
Long Term Liabilities
Mortgage Payable
651 · M/P - GMEDF GM Vendor Project
Total Mortgage Payable
212,984.29
212,984.29
Notes Payable (N/P)
655 · N/P - SLRVRA CIB Loan
653 · N/P - SLCIDA-LDC Massena Lot20
654 · N/P - SLCIDA-LDC CIB Loan
Total Notes Payable (N/P)
684,104.92
12,455.21
689,152.52
1,385,712.65
500 · Emp Compensated Time Accruals
205,803.18
501 · PostEmpBenft Other Than Pension
458,715.00
Total Long Term Liabilities
Total Liabilities
2,263,215.12
2,268,907.22
Equity
3700 · Investment in Capital Assets
2,754,743.95
3800 · Net Assets - Assigned
2,000,000.00
3900 · Net Assets - Unassigned
1,685,825.16
Net Income
Total Equity
TOTAL LIABILITIES & EQUITY
-205,098.84
6,235,470.27
8,504,377.49
St. Lawrence County Industrial Development Agency
2015 Budget
Jun-15
OPERATING REVENUE- Other
2400 - Late Fees Received
2409B - Interest Income - Banking
2409L - Interest Income - Loans
2421 - St. Lawrence County Revenue
2422 - IDALDC Administrative Revenue
2423 - GMEDF Administrative Revenue
2999 - Miscellaneous Revenue
Total OPERATING REVENUE
Canton Industrial Building - CIB(SL Brewery)
2450 · Rental Income - CIB
Total Revenue for CIB
YTD
Balance
250.00
1,000.00
11,500.00
400,000.00
200,000.00
7,200.00
250.00
620,200.00
0.00
41.83
821.07
0.00
0.00
0.00
0.00
862.90
0.00
289.30
4,989.54
200,000.00
100,000.00
7,200.00
0.00
312,478.84
250.00
710.70
6,510.46
200,000.00
100,000.00
0.00
250.00
307,721.16
33,111.00
33,111.00
0.00
0.00
16,555.44
16,555.44
16,555.56
16,555.56
2,500.00
4,650.00
1,000.00
13,016.00
50,621.00
71,787.00
0.00
0.00
0.00
860.19
0.00
860.19
70.00
2,913.67
0.00
4,359.27
0.00
7,342.94
2,430.00
1,736.33
1,000.00
8,656.73
50,621.00
64,444.06
Total Canton Industrial Building
Canton Industrial Park
6456408 · Maintenance Expense - CIP
6456411 · Insurance Expense - CIP
6456499 · Miscellaneous Expense - CIP
Total Expenditure for CIP
(38,676.00)
(860.19)
9,212.50
(47,888.50)
500.00
100.00
250.00
850.00
0.00
0.00
0.00
0.00
0.00
599.48
392.50
991.98
500.00
(499.48)
0.00
0.52
Total Canton Industrial Park
Gouverneur Industrial Park
6486408 · Maintenance Expense - GIP
6486411 · Insurance Expense - GIP
6486499 · Miscellaneous Expense - GIP
Total Expenditure for GIP
(850.00)
0.00
(991.98)
6455408 · Maintenance Expense - CIB
6455411 · Insurance Expense - CIB
6455416 · Utility Expense - CIB
6455500 · Interest Expense - CIB
6455510 - Depreciation Expense - CIB
Total Expenditure for CIB
(0.52)
1,000.00
100.00
250.00
1,350.00
235.00
0.00
0.00
235.00
235.00
31.36
0.00
266.36
765.00
68.64
250.00
1,083.64
(1,350.00)
(235.00)
(266.36)
(1,083.64)
Total Gouverneur Industrial Park
Massena Lot 20 Building (OpTech)
2490 · Rental Income - Massena Lot 20 Bldg
Total Revenue for Massena Lot 20
34,920.00
34,920.00
2,937.28
2,937.28
17,265.08
17,265.08
17,654.92
17,654.92
6470500 · Interest Expense - Massena Lot 20 Bldg
6470510 - Depreciation Expense - Massena Lot 20 Bldg
Total Expenditure for Massena Lot 20
405.00
17,888.00
18,293.00
36.28
0.00
36.28
233.36
0.00
233.36
171.64
17,888.00
18,059.64
Total Massena Lot 20 Bldg
Potsdam Commerce Park (Clarkson)
2495 · Rental Income - PCP Bldg
Total Revenue for Potsdam Commerce Park
16,627.00
2,901.00
17,031.72
23,985.00
23,985.00
1,998.75
1,998.75
11,992.50
11,992.50
11,992.50
11,992.50
6497408 · Maintenance Expense - PCP Bldg
6497411 · Insurance Expense - PCP Bldg
6497499 · Misc Expense - PCP Bldg
6497510 - Depreciation Expense - PCP Bldg
Total Expenditure for PCP
500.00
3,300.00
500.00
22,263.00
26,563.00
0.00
0.00
0.00
0.00
0.00
415.47
1,799.89
0.00
0.00
2,215.36
84.53
1,500.11
500.00
22,263.00
24,347.64
Total Potsdam Commerce Park
(2,578.00)
1,998.75
9,777.14
(12,355.14)
(404.72)
2015 Budget
Jun-15
YTD
Balance
Massena Lot 17(NY Power Tools)
2475 · Rental Income - Massena Lot 17 Bldg
Total Revenue for Massena Lot 17
22,800.00
22,800.00
1,900.00
1,900.00
11,400.00
11,400.00
11,400.00
11,400.00
6480408 · Maint Expense - Massena Lot 17 Bldg
6480411 · Insurance Expense - Massena Lot 17 Bldg
6480416 · Utility Expense - Massena Lot 17 Bldg
6480510 - Depreciation Expense - Massena Lot 17 Bldg
Total Expenditure for Massena Lot 17
500.00
2,435.00
100.00
10,200.00
13,235.00
336.85
0.00
56.96
0.00
393.81
296.85
2,685.03
2,175.38
0.00
5,157.26
203.15
(250.03)
(2,075.38)
10,200.00
8,077.74
1,506.19
6,836.03
1,525.28
5,310.75
0.00
5,310.75
6,242.74
57,213.02
16,207.26
41,005.76
0.00
41,005.76
3,322.26
57,602.98
116,013.24
(58,410.26)
100,972.00
42,561.74
10,000.00
5,251.00
25,000.00
470,000.00
913,500.00
500.00
1,424,251.00
0.00
437.58
0.00
0.00
0.00
0.00
437.58
24,000.00
2,625.48
0.00
0.00
0.00
0.00
26,625.48
(14,000.00)
2,625.52
25,000.00
470,000.00
913,500.00
500.00
1,397,625.52
6420430 - NG Marketing Initiative Expense
6420501 - Railroad Interest Expense
6420617 - NF Rail Rehab Expense
6490613 · PILOT Payment Expense (ATL-Tam)
Total Expenditure for Misc Projects
25,000.00
15,000.00
913,500.00
5,251.00
958,751.00
0.00
0.00
0.00
437.58
437.58
0.00
0.00
171,895.59
2,625.48
174,521.07
25,000.00
15,000.00
741,604.41
2,625.52
784,229.93
Total Miscellaneous Projects
465,500.00
0.00
(147,895.59)
613,395.59
Total Massena Lot 17
Total Building Revenues
Total Building Expenditures
Total Building Net Income
Total Building Depreciation
Building Net Income without Depreciation
Miscellaneous Projects
2413 · Project Fees
2420 · PILOT Payment Received (ATL-Tam)
2425 · NG Marketing Initiative Revenue
2499 · Canton Industrial Park Revenue
2455 · NF Rail Rehab Revenue
6499 - Miscellaneous Income
Total Revenue for Misc Projects
9,565.00
114,816.00
132,078.00
(17,262.00)
100,972.00
83,710.00
2015 Budget
IDA General Operating Expenditures
6460408 · Maintenance Expense
6460411 · Insurance Expense
6460416 · Utilities Expense
6460418 · Underwriting/Credit Report Expense
6460420 · Office Supplies Expense
6460421 · Office Equipment Expense
6460422 · Equipment Repair Expense
6460423 · Telephone Expense
6460424 · Postage Expense
6460425 · Printing & Copying Expense
6460426 · IT Expense
6460427 · Professional Associations Expense
6460432 · Other Legal Expense
6460433 · Legal Expense - Retainer
6460434 · Accounting Expense
6460436 · Promotion/Marketing Expense
6460440 · Auto Expense
6460441 · Subscriptions & Periodical Expense
6460442 · Meeting Expense
6460443 · Mileage Expense
6460444 · Education Workshops Expense
6460445 · Other Travel Expense
6460499 · Miscellaneous Expense
6460501 - Interest Expense
6460503 - Payroll Expenses
503A - Salaries & Wages
503B - Employee Benefits
503C - Post Employment Benefits Expense
503D - Payroll Tax Expense
503E - Payroll Processing Fees
6460599 - Depreciation Expense
Total IDA General Operating Expenditures
Jun-15
YTD
Balance
2,000.00
12,000.00
7,500.00
250.00
5,000.00
5,000.00
2,500.00
6,000.00
1,800.00
1,500.00
7,500.00
2,000.00
10,000.00
7,000.00
6,000.00
25,000.00
4,000.00
0.00
1,000.00
2,500.00
3,000.00
15,000.00
500.00
7,248.00
468.45
30.00
321.55
0.00
218.41
0.00
0.00
537.75
63.37
0.00
107.25
0.00
0.00
0.00
0.00
3,624.12
281.86
98.00
177.63
442.75
0.00
1,036.36
162.00
609.24
1,853.20
3,149.18
3,589.08
0.00
790.04
99.99
0.00
3,283.53
452.38
0.00
2,161.68
2,119.17
132.00
3,500.00
9,450.00
43,549.46
1,037.28
347.80
351.01
523.19
2,475.00
3,030.96
262.08
3,167.30
146.80
8,850.82
3,910.92
250.00
4,209.96
4,900.01
2,500.00
2,716.47
1,347.62
1,500.00
5,338.32
(119.17)
9,868.00
3,500.00
(3,450.00)
(18,549.46)
2,962.72
(347.80)
648.99
1,976.81
525.00
11,969.04
237.92
4,080.70
426,430.00
196,745.00
121,986.00
32,010.00
2,400.00
3,754.00
917,623.00
28,622.74
6,718.73
0.00
2,028.84
254.56
0.00
45,803.61
189,544.39
120,761.55
0.00
13,462.67
1,594.91
0.00
410,687.85
236,885.61
75,983.45
121,986.00
18,547.33
805.09
3,754.00
506,935.15
Total Operating Revenue
Total Building Revenue
Total Miscellaneous Revenue
Total Revenues
620,200.00
114,816.00
1,424,251.00
2,159,267.00
862.90
6,836.03
437.58
8,136.51
312,478.84
57,213.02
26,625.48
396,317.34
307,721.16
57,602.98
1,397,625.52
1,762,949.66
Total Operating Expenditures
Total Building Expenditures
Total Miscellaneous Expenditures
Total Expenditures
917,623.00
132,078.00
958,751.00
2,008,452.00
45,803.61
1,525.28
437.58
47,766.47
410,687.85
16,207.26
174,521.07
601,416.18
506,935.15
116,013.24
784,229.93
1,407,178.32
(44,940.71)
5,310.75
0.00
(39,629.96)
(98,209.01)
41,005.76
(147,895.59)
(205,098.84)
Net Operating Income
Net Building Income
Net Miscellaneous Income
Total Net Income
(297,423.00)
(17,262.00)
465,500.00
150,815.00
(199,213.99)
(58,410.26)
613,395.59
355,771.34
St. Lawrence County Industrial Development Agency
Cash and In Time Report
June 2015
Type of Account
Bank
Interest Rate
Amount
Money Market
Rental Deposits
Checking
Payroll Account
Savings
Key Bank
NBT Bank
NBT Bank
NBT Bank
NBT Bank
0.25%
0.02%
0.02%
0.02%
0.25%
$ 2,127,549.91
$
5,692.10
$ 131,914.44
$
27,712.11
$ 1,594,604.02
$ 3,887,472.58
($2,000,000.00)
$ 1,887,472.58
Reserve
Total Cash accounts
St. Lawrence County IDALDC
Consolidated Balance Sheet
June 2015
General Fund
Loan Fund
GMEDF
RVRA
TOTAL
ASSETS
Current Assets
Checking/Savings
200 · Cash - General Fund
200B · Cash - General Fund - KeyBank
200BG · Cash - General - Key Bank
315,000.00
0.00
0.00
0.00
315,000.00
200BT · Cash - Training - Key Bank
15,000.00
0.00
0.00
0.00
15,000.00
330,000.00
0.00
0.00
0.00
330,000.00
16,372.25
0.00
0.00
0.00
16,372.25
9,413.61
0.00
0.00
0.00
9,413.61
355,785.86
0.00
0.00
0.00
355,785.86
201X · Cash - RLF - (Restr) SLBrew LOC
0.00
50,000.00
0.00
0.00
50,000.00
201A · Cash - RLF - FirstNiagara
0.00
358,879.11
0.00
0.00
358,879.11
201C · Cash - RLF - Comm'y Bank
0.00
55,973.60
0.00
0.00
55,973.60
201D · Cash - RLF - KeyBank
0.00
143,766.49
0.00
0.00
143,766.49
201F · Cash - RLF - NBT
0.00
213,004.75
0.00
0.00
213,004.75
201Z · Cash - RLF - CD_NBT
0.00
100,000.00
0.00
0.00
100,000.00
0.00
921,623.95
0.00
0.00
921,623.95
Total 200B · Cash - General Fund - KeyBank
200C · Cash - General - NBTBank
200P · Cash - General Fund - Payroll
Total 200 · Cash - General Fund
201 · Cash - Revolving Loan Fund
Total 201 · Cash - Revolving Loan Fund
202 · Cash - RVRA
202A · Cash - RVRA - NBT
0.00
0.00
0.00
62,564.95
62,564.95
202B · Cash - RVRA - NBT_MoneyMkt
0.00
0.00
0.00
1.00
1.00
202C · Cash - RVRA - Key
0.00
0.00
0.00
3,285,127.62
3,285,127.62
202D · Cash - RVRA - FirstNiagara
0.00
0.00
0.00
6,652,229.48
6,652,229.48
0.00
0.00
0.00
9,999,923.05
9,999,923.05
0.00
0.00
1,717,296.95
0.00
1,717,296.95
0.00
0.00
1,717,296.95
0.00
1,717,296.95
355,785.86
921,623.95
1,717,296.95
9,999,923.05
12,994,629.81
355,785.86
921,623.95
1,717,296.95
9,999,923.05
12,994,629.81
100A · MIB 18 - Building [ RVRA]
0.00
0.00
0.00
359,800.00
359,800.00
100B · MIB 18 - Bldg Deprec [RVRA]
0.00
0.00
0.00
-22,787.33
-22,787.33
0.00
0.00
0.00
337,012.67
337,012.67
101A · MIB 19 - Building [RVRA]
0.00
0.00
0.00
340,200.00
340,200.00
101B · MIB 19 - Bldg Deprec [RVRA]
0.00
0.00
0.00
-21,546.00
-21,546.00
0.00
0.00
0.00
318,654.00
318,654.00
117A · 4MIB - Building [LDC]
0.00
594,233.38
0.00
0.00
594,233.38
117B · 4MIB - Improvements [LDC]
0.00
149,290.09
0.00
0.00
149,290.09
117C · 4MIB - Bldg Deprec [LDC]
0.00
-209,139.31
0.00
0.00
-209,139.31
0.00
534,384.16
0.00
0.00
534,384.16
Total 202 · Cash - RVRA
203 · Cash - GMEDF
203A · Cash - GMEDF - NBT
Total 203 · Cash - GMEDF
Total Checking/Savings
Total Current Assets
Fixed Assets
100 · Massena Lot 18 (MIB18) RVRA
Total 100 · Massena Lot 18 (MIB18) RVRA
101 · Massena Lot 19 (MIB19) RVRA
Total 101 · Massena Lot 19 (MIB19) RVRA
117 · 4MIB - LDC
Total 117 · 4MIB - LDC
St. Lawrence County IDALDC
Consolidated Balance Sheet
June 2015
General Fund
Loan Fund
GMEDF
RVRA
TOTAL
118 · Land-Lot13-LDC MIP
0.00
30,000.00
0.00
0.00
30,000.00
119 · Construction in Process[18&19]
0.00
0.00
0.00
150,662.01
150,662.01
0.00
564,384.16
0.00
806,328.68
1,370,712.84
410 · M/R - CurranRenewEnergy [GMEDF]
0.00
0.00
76,429.17
0.00
76,429.17
411 · M/R - Galilee Farms [GMEDF]
0.00
0.00
10,413.30
0.00
10,413.30
412 · M/R - GM Vendor [GMEDF]
0.00
0.00
212,974.10
0.00
212,974.10
413 · M/R - High Peaks Winery [GMEDF]
0.00
0.00
34,987.91
0.00
34,987.91
416 · M/R - FirstClassAire [GMEDF]
0.00
0.00
49,093.02
0.00
49,093.02
Total Mortgage Receivable [GMEDF]
0.00
0.00
383,897.50
0.00
383,897.50
0.00
689,152.52
0.00
0.00
689,152.52
0.00
689,152.52
0.00
0.00
689,152.52
414 · M/R - High Peaks Winery [RVRA]
0.00
0.00
0.00
34,997.95
34,997.95
415 · M/R - FirstClassAire [RVRA]
0.00
0.00
0.00
49,331.25
49,331.25
500 · M/R - SLCIDACIB [RVRA]
0.00
0.00
0.00
684,104.92
684,104.92
0.00
0.00
0.00
768,434.12
768,434.12
459 · N/R - ATL_Tamarack [RLF]
0.00
4,185.46
0.00
0.00
4,185.46
466 · N/R - Hacketts [RLF]
0.00
78,087.92
0.00
0.00
78,087.92
470 · N/R - SLCIDA Lot 20 [RLF]
0.00
12,455.21
0.00
0.00
12,455.21
471 · N/R - Glazier [RLF]
0.00
7,182.90
0.00
0.00
7,182.90
479 · N/R - Atlantic Testing [RLF]
0.00
56,028.12
0.00
0.00
56,028.12
480 · N/R - CurranRenewEnergy [RLF]
0.00
162,959.11
0.00
0.00
162,959.11
483 · N/R - SLIC [RLF]
0.00
36,349.22
0.00
0.00
36,349.22
485 · N/R - NoCoDairy [RLF]
0.00
125,618.25
0.00
0.00
125,618.25
488 · N/R - GilbertGreenCoClub [RLF]
0.00
34,794.72
0.00
0.00
34,794.72
490 · N/R - SLIC LOC [RLF]
0.00
258,818.26
0.00
0.00
258,818.26
492 · N/R - CurranRenewable2012 [RLF]
0.00
86,197.56
0.00
0.00
86,197.56
493 · N/R - St Lawrence Brewing [RLF]
0.00
48,753.03
0.00
0.00
48,753.03
Total N/R Revolving Loan Fund - [RLF]
0.00
911,429.76
0.00
0.00
911,429.76
Total Fixed Assets
Other Assets
Mortgage Receivable [GMEDF]
Mortgage Receivable [RLF]
501 · M/R - SLCIDACIB [RLF]
Total Mortgage Receivable [RLF]
Mortgage Receivables [RVRA]
Total Mortgage Receivables [RVRA]
N/R Revolving Loan Fund - [RLF]
St. Lawrence County IDALDC
Consolidated Balance Sheet
June 2015
General Fund
Loan Fund
GMEDF
RVRA
TOTAL
Notes Receivable - [RVRA]
494 · N/R - Town of Massena [RVRA]
0.00
0.00
0.00
25,361.22
25,361.22
485R · N/R - NoCoDairy [RVRA]
0.00
0.00
0.00
125,603.42
125,603.42
486 · N/R - SLIC [RVRA]
0.00
0.00
0.00
247,593.65
247,593.65
487 · N/R - StructuralWood - [RVRA]
0.00
0.00
0.00
104,232.29
104,232.29
489 · N/R - NicholvilleTel [RVRA]
0.00
0.00
0.00
225,006.58
225,006.58
495 · N/R - City of Ogdensburg [RVRA]
0.00
0.00
0.00
21,613.44
21,613.44
496 · N/R - BDC Rail Loan [RVRA]
0.00
0.00
0.00
197,504.00
197,504.00
497 · N/R - BlastBoss [RVRA]
0.00
0.00
0.00
31,508.94
31,508.94
498 · N/R - Riverside Iron [RVRA]
0.00
0.00
0.00
91,895.50
91,895.50
499 · N/R - Purinepharma [RVRA]
0.00
0.00
0.00
111,039.08
111,039.08
503 · N/R - Town of Louisville [RVRA]
0.00
0.00
0.00
13,343.27
13,343.27
504 · N/R - Hozmerica [RVRA]
0.00
0.00
0.00
17,500.00
17,500.00
0.00
0.00
0.00
1,212,201.39
1,212,201.39
420 · N/R - NoRacq Greenery [GMEDF]
0.00
0.00
28,635.83
0.00
28,635.83
421 · N/R - Atlantic Testing [GMEDF]
0.00
0.00
56,028.12
0.00
56,028.12
423 · N/R - HoosierMagn [GMEDF]
0.00
0.00
100,344.11
0.00
100,344.11
428 · N/R - StLawrenceFoods [GMEDF]
0.00
0.00
3,107.95
0.00
3,107.95
432 · N/R - CliftonFineHosp [GMEDF]
0.00
0.00
115,504.67
0.00
115,504.67
434 · N/R - StructuralWood [GMEDF]
0.00
0.00
101,732.27
0.00
101,732.27
436 · N/R - BlastBoss [GMEDF]
0.00
0.00
31,508.94
0.00
31,508.94
437 · N/R - Riverside Iron [GMEDF]
0.00
0.00
91,945.50
0.00
91,945.50
0.00
0.00
528,807.39
0.00
528,807.39
0.00
355,785.86
1,600,582.28
3,086,590.39
912,704.89
2,630,001.84
1,980,635.51
12,786,887.24
4,493,922.68
18,859,265.33
0.00
0.00
1,767.27
0.00
1,767.27
0.00
0.00
1,767.27
0.00
1,767.27
0.00
0.00
1,767.27
0.00
1,767.27
85,322.84
27,205.87
-12,095.69
-1,197,714.69
-1,097,281.67
0.00
-1,433.62
0.00
1,433.62
0.00
Total Notes Receivable - [RVRA]
Notes Receivable GMEDF
Total Notes Receivable GMEDF
Total Other Assets
TOTAL ASSETS
LIABILITIES & EQUITY
Liabilities
Long Term Liabilities
524 · Due to Affiliates
Total Long Term Liabilities
Total Liabilities
Equity
32000 · Unrestricted Net Assets
3700 · Prior Period Adjustment
3800 · Net Assets - Unrestricted
3900 · Net Assets - Temp Restricted
Net Income
Total Equity
TOTAL LIABILITIES & EQUITY
252,994.57
0.00
0.00
0.00
252,994.57
0.00
3,086,204.41
2,815,091.35
14,315,639.92
20,216,935.68
17,468.45
-25,386.27
-174,761.09
-332,471.61
-515,150.52
355,785.86
355,785.86
3,086,590.39
3,086,590.39
2,628,234.57
2,630,001.84
12,786,887.24
12,786,887.24
18,857,498.06
18,859,265.33
St. Lawrence County IDALDC
Consolidated Budget Report
Budget vs. Actual
Income
Budget
General Fund Loan Fund
June 2015
June 2015
GMEDF
June 2015
RVRDA
June 2015
YTD
Balance
OPERATING REVENUE
2400 · Late Fees Received
350.00
0.00
25.00
0.00
0.00
75.00
275.00
9,180.00
0.00
30.43
27.08
586.00
3,337.55
5,842.45
2409L · Interest Income - Loans
122,157.00
0.00
4,343.10
1,994.22
3,555.06
59,234.39
62,922.61
2412 · RVRA Administrative Revenue
300,000.00
0.00
0.00
0.00
0.00
150,000.00
150,000.00
2409B · Interest Income - Banking
2413 · WIB Director Revenue
42,800.00
4,606.14
0.00
0.00
0.00
15,672.85
27,127.15
2424 · Brasher Admin Income (LDCMicro)
1,000.00
0.00
0.00
0.00
0.00
0.00
1,000.00
2450 · Miscellaneous Income
3,000.00
0.00
0.00
0.00
0.00
2,200.00
800.00
478,487.00
4,606.14
4,398.53
2,021.30
4,141.06
230,519.79
247,967.21
Total OPERATING REVENUE
4TH MASSENA INDUSTRIAL BUILDING
2421 · Rental Income-4MIB
34,855.00
0.00
2,870.58
0.00
0.00
17,039.37
17,815.63
Total Revenue for 4MIB
34,855.00
0.00
2,870.58
0.00
0.00
17,039.37
17,815.63
0.00
0.00
0.00
0.00
0.00
0.00
0.00
6485510 · 4MIB - Depreciation Expense
6485499 · 4MIB - Miscellaneous Expense
15,297.00
0.00
0.00
0.00
0.00
0.00
15,297.00
Total Expenditures for 4MIB
15,297.00
0.00
0.00
0.00
0.00
0.00
15,297.00
19,558.00
0.00
2,870.58
0.00
0.00
17,039.37
2,518.63
2422 - MIB Lot 18 Rent
1,500.00
0.00
0.00
0.00
125.00
750.00
750.00
Total Revenue for MIB18
1,500.00
0.00
0.00
0.00
125.00
750.00
750.00
6486408 · MIB18 - Maintenance Expense
2,500.00
0.00
0.00
0.00
0.00
12.50
2,487.50
6486411 · MIB18 - Insurance Expense
3,725.00
0.00
0.00
0.00
0.00
2,054.41
1,670.59
6486416 · MIB18 - Utility Expense
6,000.00
0.00
0.00
0.00
170.52
2,658.31
3,341.69
500.00
0.00
0.00
0.00
0.00
0.00
500.00
7,196.00
0.00
0.00
0.00
0.00
0.00
7,196.00
19,921.00
0.00
0.00
0.00
170.52
4,725.22
15,195.78
(18,421.00)
0.00
0.00
0.00
(45.52)
(3,975.22)
(14,445.78)
Total 4TH MASSENA INDUSTRIAL BUILDING
MASSENA INDUSTRIAL BUILDING LOT18
6486499 · MIB18 - Miscellaneous Expense
6486500 · MIB18 - Depreciation Expense
Total Expenditures for MIB18
Total MASSENA INDUSTRIAL BUILDING LOT18
MASSENA INDUSTRIAL BUILDING LOT19
2422 - MIB Lot 19 Rent
43,250.00
0.00
0.00
0.00
1,166.67
22,156.27
21,093.73
Total Revenue for MIB19
43,250.00
0.00
0.00
0.00
1,166.67
22,156.27
21,093.73
6487408 · MIB19 - Maintenance Expense
100.00
0.00
0.00
0.00
0.00
12.50
87.50
4,500.00
0.00
0.00
0.00
0.00
1,572.24
2,927.76
6487416 · MIB19 - Utility Expense
500.00
0.00
0.00
0.00
0.00
0.00
500.00
6487499 · MIB19 - Miscellaneous Expense
500.00
0.00
0.00
0.00
0.00
0.00
500.00
6,804.00
0.00
0.00
0.00
0.00
0.00
6,804.00
12,404.00
0.00
0.00
0.00
0.00
1,584.74
10,819.26
30,846.00
0.00
0.00
0.00
1,166.67
20,571.53
10,274.47
6487411 · MIB19 - Insurance Expense
6487500 · MIB19 - Depreciation Expense
Total Expenditures for MIB19
Total MASSENA INDUSTRIAL BUILDING LOT19
MISCELLANEOUS PROJECTS
2425 · NG Marketing Initiative Revenue
25,000.00
0.00
0.00
0.00
0.00
0.00
25,000.00
2454 · MIB 18 & 19 Improvement Revenue
60,000.00
0.00
0.00
0.00
0.00
0.00
60,000.00
Total Revenue for Misc Projects
85,000.00
0.00
0.00
0.00
0.00
0.00
85,000.00
6420430 · Training Reimb Expense
7,500.00
0.00
0.00
0.00
0.00
0.00
7,500.00
25,000.00
0.00
0.00
0.00
0.00
0.00
25,000.00
6420486 · Improvements on MIB 18
0.00
0.00
0.00
0.00
0.00
0.00
0.00
6420487 · Improvements on MIB 19
0.00
0.00
0.00
0.00
0.00
0.00
0.00
32,500.00
0.00
0.00
0.00
0.00
0.00
32,500.00
52,500.00
79,605.00
47,622.00
31,983.00
29,297.00
61,280.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
2,870.58
0.00
2,870.58
0.00
2,870.58
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1,291.67
170.52
1,121.15
0.00
1,121.15
0.00
39,945.64
6,309.96
33,635.68
0.00
33,635.68
6420436 · NG Marketing Initiative Expense
Total Expenses for Misc Projects
Total MISCELLANEOUS PROJECTS
Total Building Revenues
Total Building Expenditures
Total Building Net Income
Total Building Depreciation
Building Net Income without Depreciation
52,500.00
39,659.36
41,312.04
(1,652.68)
29,297.00
27,644.32
St. Lawrence County IDALDC
Consolidated Budget Report
Budget vs. Actual
Budget
General Fund Loan Fund
June 2015
June 2015
GMEDF
June 2015
RVRDA
June 2015
YTD
Balance
GENERAL OPERATING EXPENSES
6460411 · Insurance Expense
1,500.00
0.00
0.00
0.00
0.00
0.00
1,500.00
6460418 · Underwriting/Credit Report Expense
1,500.00
0.00
0.00
0.00
0.00
0.00
1,500.00
6460420 · Office Supplies Expense
325.00
0.00
0.00
0.00
0.00
0.00
325.00
6460427 · Memberships & Dues Expense
250.00
0.00
0.00
0.00
0.00
175.00
75.00
48,600.00
0.00
0.00
0.00
0.00
24,300.00
24,300.00
6460430 · Contractual Expenses to MED
6460431 · IDALDC Admin Payment
300,000.00
0.00
0.00
0.00
0.00
150,000.00
150,000.00
20,000.00
0.00
0.00
0.00
450.00
1,035.00
18,965.00
7,000.00
0.00
0.00
0.00
0.00
3,500.00
3,500.00
12,600.00
0.00
0.00
258.33
258.33
13,591.66
7,200.00
0.00
0.00
0.00
0.00
7,200.00
0.00
25,000.00
0.00
0.00
0.00
0.00
225.00
24,775.00
6460442 · Meeting Expense
250.00
0.00
0.00
0.00
0.00
10.00
240.00
6460443 · Mileage Expense
500.00
0.00
0.00
0.00
0.00
37.38
462.62
1,500.00
0.00
0.00
0.00
0.00
11.00
1,489.00
53,606.20
6460432 · Other Legal Expense
6460433 · Legal Expense - Retainer
6460434 · Accounting Expense - General
6460435 - GMEDF Admin Fee
6460436 - Marketing
6460445 ·Other Travel Expense
(991.66)
6460450-11 · CDEIP 2011
125,887.00
0.00
0.00
0.00
0.00
72,280.80
6460450-12 · CDEIP 2012
16,344.00
0.00
0.00
0.00
0.00
0.00
6460450-13 · CDEIP 2013
0.00
0.00
0.00
0.00
0.00
40,000.00
(40,000.00)
6460450-14 · CDEIP 2014
454,330.00
0.00
0.00
0.00
0.00
82,332.39
371,997.61
6460450-15 · CDEIP 2015
465,273.00
0.00
0.00
0.00
0.00
0.00
465,273.00
1,500.00
0.00
0.00
0.00
0.00
0.00
1,500.00
86,488.00
6,652.92
0.00
0.00
0.00
43,243.98
43,244.02
530.00
38.50
0.00
0.00
0.00
241.91
288.09
7,090.00
508.94
0.00
0.00
0.00
3,549.60
3,540.40
6460499 · Miscellaneous Expense
16,344.00
6460503 · Payroll Expenses
503A - Salaries & Wages
503B - Employee Benefits
503D - Payroll Tax Expenses
503E- Payroll Processing Fees
1,750.00
161.32
0.00
0.00
0.00
1,110.53
639.47
200,000.00
0.00
0.00
0.00
0.00
100,000.00
100,000.00
6460555 · Bad Debt Expense
0.00
0.00
0.00
0.00
0.00
236,461.74
(236,461.74)
6460599 · Depreciation Expense
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1,785,417.00
7,361.68
0.00
258.33
708.33
779,305.99
1,006,111.01
643,092.00
4,606.14
7,269.11
2,021.30
5,432.73
270,465.43
372,626.57
Total Expenses 1,865,539.00
7,361.68
0.00
258.33
878.85
785,615.95
1,079,923.05
7,269.11
0.00
7,269.11
1,762.97
0.00
1,762.97
6460550 · IDA Admin Payment
Total GENERAL OPERATING EXPENSES
Total Income
Net Income (1,222,447.00)
Depreciation Costs
29,297.00
Net Income without Deprecciation (1,193,150.00)
(2,755.54)
0.00
(2,755.54)
4,553.88 (515,150.52)
0.00
0.00
4,553.88 (515,150.52)
(707,296.48)
29,297.00
(677,999.48)
St. Lawrence County Industrial Development Agency
Local Development Corporation
Cash and In Time Report
June 2015
Bank
Fund
Account Type
Restricted /
Unrestricted
Balance
Key Bank
Key Bank
NBT
NBT
NBT
Key Bank
NBT
NBT
First Niagara
Community Bank
NBT
NBT
NBT
Key Bank
First Niagara
Gen Training
General
General
General
GMEDF
Loan Fund
Loan Fund
Loan Fund
Loan Fund
Loan Fund
Loan Fund
RVRA
RVRA
RVRA
RVRA
Money Market
Money Market
Money Market
Payroll
Checking
Money Market
Checking
Brewery LOC
Money Market
Money Market
CD
Checking
Money Market
Money Market
Money Market
Unrestricted
Unrestricted
Restricted
Unrestricted
Restricted
Restricted
Restricted
Restricted
Restricted
Restricted
Restricted
Restricted
Restricted
Restricted
Restricted
$
15,000.00
$ 315,000.00
$
16,372.25
$
9,413.61
$ 1,717,296.95
$ 143,766.49
$ 213,004.75
$
50,000.00
$ 358,879.11
$
55,973.60
$ 100,000.00
$
62,564.95
$
1.00
$ 3,285,127.62
$ 6,652,229.48
$ 12,994,629.81
St. Lawrence County IDA Civic Development Corp.
Balance Sheet
As of June 30, 2015
Jun 30, 15
ASSETS
Current Assets
Checking/Savings
200 · Checking Account
200-N · NBT Account
200B · NBT - Restricted - CivicDevFund
200A · NBT - Unrestricted - Checking
54,322.02
118,724.00
Total 200-N · NBT Account
173,046.02
200C · Key Money Market-Unrestricted
134,786.08
Total 200 · Checking Account
Total Checking/Savings
Total Current Assets
307,832.10
307,832.10
307,832.10
Other Assets
401 · N/R - OBPA 2012
37,648.74
402 · N/R - Fire Training Facility
80,559.08
403 · LOC - SLC Chamber of Commerce
29,039.97
Total Other Assets
TOTAL ASSETS
147,247.79
455,079.89
LIABILITIES & EQUITY
Equity
Restricted
3900 · Unrestricted - Board Designated
Net Income
Total Equity
TOTAL LIABILITIES & EQUITY
54,322.02
402,933.27
-2,175.40
455,079.89
455,079.89
St. Lawrence County IDA
Civic Development Corporation
2015 Budget
Income
2400 · Late Payment Fee Received
2409B · Interest Income - Banking
2409L · Interest Income - Loans
2415 · Project/Bond Fees
Jun-15
YTD
Balance
25.00
55.00
9,100.00
0.00
9,180.00
0.00
5.17
269.58
0.00
274.75
25.00
25.03
949.57
0.00
999.60
0.00
29.97
8,150.43
0.00
8,180.40
Expenditures
6460411 · Insurance Expense
6460432 · Legal Expense
6460433 · Legal Expense - Retainer
6460434 · Accounting Expense
6460442 · Meeting Expense
6460450 · Project Development Expense
6460499 · Miscellaneous Expense
Total IDA CDC Operating Expenditures
500.00
2,500.00
500.00
2,925.00
0.00
0.00
250.00
6,675.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
250.00
2,925.00
0.00
0.00
0.00
3,175.00
500.00
2,500.00
250.00
0.00
0.00
0.00
250.00
3,500.00
Total Revenue
Total Expenditures
Net Income
9,180.00
6,675.00
2,505.00
274.75
0.00
274.75
999.60
3,175.00
(2,175.40)
8,180.40
3,500.00
4,680.40
St. Lawrence County Local Development Corporation
Balance Sheet
As of June 30, 2015
Jun 30, 15
ASSETS
Current Assets
Checking/Savings
200 · NBT Checking
96,690.81
Total Checking/Savings
96,690.81
210 · Accrued Interest Receivable
Total Other Current Assets
Total Current Assets
57.20
57.20
96,748.01
Other Assets
Loans Receivable
400 · Adirondack Battery
6,938.70
404 · Felician House
4,080.48
405 · Gordons Frame to Finish
18,780.55
407 · Hebel Welding
18,822.11
408 · Honey Dew Acres
11,839.60
412 · Maple Run Emporiums, Inc
3,855.90
413 · New Horizons Wireless, Inc.
4,258.28
415 · River Lane Campground
418 · Splendid Spaces
421 · Tony's Canvas & Leather
5,991.95
10,921.84
756.13
422 · Unique Boutique
4,006.50
423 · Valley Greenery
3,618.18
425 · Sam's Party Tents
12,675.75
426 · Shades Tanning
17,495.75
427 · Waddington Auto Parts
16,739.09
428 · Susan's Stitches
15,058.99
429 · Proline Striping
16,802.08
430 · Sharrow's Home Repair 2
17,157.78
Total Loans Receivable
Total Other Assets
TOTAL ASSETS
189,799.66
189,799.66
286,547.67
LIABILITIES & EQUITY
Equity
3800 · Unrestricted - Board Designated
3700 · Unrestricted
Net Income
Total Equity
TOTAL LIABILITIES & EQUITY
312,686.38
110.00
-26,248.71
286,547.67
286,547.67
St. Lawrence County Local Development Corporation
Profit / Loss Budget Report
Budget 2015
Jun-15
YTD
Balance
Income
2400 · Late Fees Received
2409B · Interest Income - Banking
2409L · Interest Income - Loans
2424 · Brasher Admin Income
Total Income
1,000.00
105.00
315.00
10.00
1.55
6.89
685.00
3.11
7,562.00
1,000.00
653.94
0.00
4,246.35
0.00
3,315.65
1,000.00
9,572.00
760.49
4,568.24
5,003.76
Expense
6460411 · Insurance Expense
500.00
0.00
0.00
500.00
6460418 · Underwriting/Credit Reports Expense
500.00
0.00
125.40
374.60
25.00
0.00
0.00
25.00
6460420 · Office Supplies Expense
6460424 · Postage Expense
6460432 · Other Legal Expense
6460433 · Legal Expense - Retainer
6460434 · Accounting Expense - General
6460442 · Meeting Expense
100.00
0.00
0.00
100.00
2,500.00
0.00
0.00
2,500.00
500.00
0.00
250.00
250.00
3,200.00
0.00
3,025.00
175.00
150.00
0.00
0.00
150.00
6460452 · Brasher Admin Payment to IDALDC
1,000.00
0.00
0.00
1,000.00
6460502 · Outside Contract Expense
7,500.00
0.00
0.00
7,500.00
100.00
0.00
0.00
0.00
0.00
27,416.55
100.00
(27,416.55)
16,075.00
0.00
30,816.95
(14,741.95)
9,572.00
760.49
4,568.24
5,003.76
16,075.00
(6,503.00)
0.00
760.49
30,816.95
(26,248.71)
(14,741.95)
19,745.71
6460499 · Miscellaneous Expense
6460550· Bad Debt Expense
Total Expense
Total Revenue
Total Expenditures
Net Income