Russell County Industrial Development Authority Board Chairman Clint Voils said the IDA continues to look into ways to attract business to Russell County.
Voils said part of that is maintaining a strong financial position for grant opportunities and other initiatives. He said it’s also important to have funds available to assist potential businesses.
The latest balance sheet obtained by WJRS News shows the IDA has around $3.73 million in its checking account. Also noted was more than $3 million in a state grant fund and about $573,000 in a Community Development Block Grant.
The authority carries around $1.45 million in liabilities but holds $8.59 million in total equity. That is mostly from $8.28 million in retained earnings.
Stay tuned to WJRS News for more from our conversation with Board Chairman Clint Voils.