The Ardmore Development Authority Board of Trustees voted to add a full accounting of expenditures at Hickory Ridge to a succession review that has been scheduled. Crawford and Associates has been selected to perform the audit that will also look at some other areas of concern. The issue of internal controls was also brought up but it was already slated to be part of the review.
The ADA also reviewed its yearly audit performed by Rahhal, Henderson and Johnson LLC for the fiscal year ending in 2012. The audit was positive in nature with a recommendation the ADA consider formal employment contracts with its officers.
A preliminary budget for the upcoming year was discussed. Brian Carter, Interim President & CEO, said the ADA has chosen to move forward with the perception a sales tax will be reinstituted by voters. The ADA is slated for a funding loss as the current sales tax will expire at the end of September. Carter said the ADA is looking at a $670,000 budget deficit during the time period. As a precaution, plans are being made to make several expense cuts.
To gain some financial relief, the board approved an item to ask the city to amend the Ardmore Airpark lease in regard to its use of mineral income. The ADA has been paying for its Airpark Fire Department through sales tax revenue and would like to use revenue gained through its mineral rights for that purpose. Marc Nuttle delivered a presentation for the transloading facility at the Airpark and said the project is expected to be finished in the fall. Oklahoma Sover eign Development LLC has invested $23 million into the project and recently purchased switches, which will arrive in June.