The Village of Green Island Industrial Development Agency meetings are held on the 3rd Wednesday of every month, at 3:00 P. M., at the Green Island Village Office. Please click the links below to view the minutes from previous monthly meetings.
Click here to view minutes for 01/19/12 meeting.
Click here to view minutes for 12/21/11 meeting.
Click here to view minutes for 11/16/11 meeting.
Click here to view minutes for 10/19/11 meeting.
Click here to view minutes for 09/21/11 meeting.
Click here to view minutes for 08/17/11 meeting.
Click here to view minutes for 07/20/11 meeting.
Click here to view minutes for 02/16/11 meeting.
Click here to view minutes for 12/15/10 meeting.
Click here to view minutes for 10/20/10 meeting.
Click here to view minutes for 6/16/10 meeting.
Click here to view minutes for 4/21/10 meeting.
Click here to view minutes for 3/17/10 meeting.
Click here to view minutes for 2/17/10 meeting.
Click here to view minutes for 10/21/09 meeting.
Click here to view minutes for 6/17/09 meeting.
Business Processes and Internal Control
Cash Receipts and Disbursements
All bank account activity is reviewed daily by the CFO. This is done through Internet banking with Pioneer Commercial Bank (PCB), the village’s only active depository.
Every business day the CFO accesses the IDA’s bank accounts over the Internet and reviews the balances and activity to determine if any unintended activity has occurred. Any unexplained activity is researched and resolved immediately.
IDA cash receipts are prepared for deposit by the CFO. These are nominal in number and involve only a handful of deposits each year. The only material sources of income are administrative fees for IDA project financing, consultant fees for services of the IDA Community Development Director and sale of IDA land. The actual deposit of funds is made by an individual not involved in any IDA functions. This individual works for another Village entity.
IDA disbursements are handled by the Village Deputy Treasurer. Invoices are approved for payment by the CEO and CFO and the checks are signed by the CFO. All disbursements (mailings) are picked up daily by the US Post Office.
All bank accounts (Checking and Savings) are reconciled monthly by the Village Deputy Treasurer and reviewed by the CFO.
Capitalization Policy
All employees of the IDA are also employees of the Village. As employees of the Village these employees occupy office space and use equipment that is owned by the Village.
The IDA has set it capitalization threshold at $2,000. Individual expenses in excess of this amount will be included in a fixed asset inventory.
Dissemination of Financial Information to Board Members
In the normal course of business the CFO emails the Board Members and IDA Senior Staff monthly financial statements and other related information required to keep them updated on IDA financial activities. These documents are discussed at the monthly IDA Board meetings.
Assessment of Effectiveness of Internal Control
Based on the above information the Authority considers its internal control to be sufficient to detect any fraud or material impropriety.
Personal and Real Property Transactions
| Village of Green Island IDA | ||||
| Real Property Transactions | ||||
| Date of Sale | Address of Property | Sales Price | Seller | Purchaser |
| 3/23/2009 | Vacant Lot between Veterans Memorial Drive and Tibbits Avenue | $75,190 | Delaware and Hudson Railway Company, Inc. | Village of Green Island IDA |
Organizational Chart
Click here to view the IDA organizational chart.
