Ada's Community Improvement Corp (CIC) approved a 2016 budget on March 16.
Its savings account has a 2015 carryover and 2016 projected balance of $8,260. Its economic development fund has a 2015 carryover and 2016 projected balance of $3,440. Its water resource plan has a 2015 carryover of $25,594 and 2016 projected revenue of $10,000 with a 2016 projected balance of $35,594.
Its general fund has a 2015 carryover of $1,206. Projected dues for 2016 are at $375 with a projected 2016 balance of $1,581. Anticipated expenses total $1,406.
Committee budgets total $100 each for executive board, industrial and commercial. The community fund budget is $436.
On the water resource plan expense side its 2016 projected expenses include GeoHydro Phase IV at $10,000 and well abandonment at $5,000 for $15,000 project 2016 expenses.
Jamie Hall is president of the CIC.
According to the Ohio Revised Code, community improvement corporations serve as economic development arms for the governmental body they serve. In that way, a CIC advances, encourages and promotes industrial, economic, commercial and civic development in a community.
CIC meetings are open to the public and take place at noon on the third Wednesday of each month in McIntosh Center on the ONU campus. The April meeting will take place on the second Wednesday.
