The Logansport-Cass County Economic Development Foundation Board approved the 2008 budget at its meeting on Friday.
The foundation’s estimated expenses for the year will be $225,926 and it has a projected income of 226,628. The initial net income will be $702, but other income from CEDIT funds and interest will boost the projected income to $5,102 for the year.
CEDIT funds from 2007 to 2008 are down slightly. LEDF President Skip Kuker noted it was because the Cass County Council put $51,900 toward an infrastructure fund to help incoming businesses pay start-up public works costs.
Kuker also noted that the overall 2008 budget is up just 2.5 percent over last year, excluding marketing costs, and compared to five years ago, budget figures minus marketing costs are down 1 percent.
“I think we’re very, very frugal with money,” said Kuker.
Also at Friday’s meeting, board members approved the appointment of Mike Myrick, the plant manager at The Andersons Clymers Ethanol Plant. He replaces Jim Cripe on the board.
