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Meeting for the first time in two months, Henryetta Economic Development Authority (HEDA) members approved a $100,800 budget for the coming fiscal year.
The budget projects income of $84,000 in sales tax revenues and $16,800 in interest earnings. The new fiscal year starts July 1.
Out of that revenue, HEDA members say $68,100 will be spent. The largest expenditure will be $30,000 in sales tax reimbursement to Shoney’s Restaurant. HEDA members also set aside $20,000 to be used for business and community development.
That budget will be submitted to the Henryetta city council for approval at the May 19 meeting.
During the meeting, authority members approved the minutes of the March meeting. They did not meet in April due to the COVID19 pandemic.