by Bill Fontana
The PDC Board of Directors met for the Fall 2018 quarterly meeting on Thursday, November 8 at the PDC offices in Harrisburg. PDC Board Chairperson Naomi Naylor (Quakertown Alive! – Bucks County) presided over the meeting. The following actions were ratified by the Board of Directors:
1. 2017-2018 Audit Report: The Board reviewed and accepted the audit report of the independent auditing firm of Smith Elliott Kearns & Company (SEK). The audit included consolidated financial statements for both the Pennsylvania Downtown Center (PDC) and Keystone CORE Services (KCS). SEK issued an “unqualified,” or clean audit report for the fiscal year ending June 30, 2018. PDC registered a loss of $3,935 for the fiscal year on $711,341 in expenses against $707,406 in revenue. KCS ended the year with a $1,660 surplus. A complete copy of the audit report is available on the PDC website.
2. 2019-2020 Membership Dues: The Board of Directors reviewed PDC’s membership rates for the upcoming 2019-2020 fiscal year. Staff indicated that PDC membership rates have not increased since the 2012-2013 membership year. After review and consideration, the Board approved increasing membership fees for 2019-2020 as follows:
· $25 Individual Membership replaced by a $50 Friend of PDC category
· Standard Membership increased from $275 to $325
· Recognized Membership increased from $350 to $400
· Enhanced Membership increased from $625 to $675
· Enhanced & Recognized Membership increased from $700 to $750
3. KCS Funds Transfer: The Board of Directors authorized the transfer of $7,500 from PDC’s Elm Street Demonstration Program repayment account to KCS for activities in support of the development of an innovation and event center and entrepreneurial ecosystem network in Shenandoah, Schuylkill County. The funds transferred will be matched by $13,500 in local financial resources.
4. New Computer System Expenditures The Board of Directors authorized the expenditure of an amount not to exceed $10,000 for the acquisition of ten (10) new, desk-top computers for PDC staff. The acquisition will standardize the entire staff’s computer hardware. The acquisition will move PDC into the final phase of a major, year-long computer system overall including new servers, new server software and updated program software including Office 365, Act! V.21 (PDC’s contact management software) and QuickBooks 2019.
The next regularly scheduled PDC Board meeting will be held on Wednesday, February 6th at 12:30 PM. PDC membership and the public in general are welcome to attend as observers.