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The Troy Industrial Development Authority approved its March financials and reported a $55,288 surplus for April. As of April 30, the IDA had $2,144,265 in total assets, including $1,885,000 in cash, and $1,341,713 in fund balance.
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The financial report shows the IDA ended April with more revenue than expenses, with administrative fees as its largest revenue source. The board also discussed overdue accounts; after 60 days, a default letter will be sent with a copy to the creditor. Several development projects remain under review, including a tiny homes project expected to be brought forward in June.
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