The Pennyrile Area Development District Board of Directors heard the audit report for fiscal year 2020 and an update on the loan program to area businesses.
Jamie Peterson with Calhoun and Company presented the report, saying PADD received a ‘clean’ opinion on their audit, with all financial reports and statements presented fairly.
She gave a breakdown of PADD’s revenues for 2020, with the overall revenue totaling $12.8 million through various grants and funding.
Associate Director Amy Frogue says they’ve had several businesses apply for their loan program to help with the impact of COVID-19 and they’re pleased at the progress so far.
Information about the loan program and how to apply can be found on the PADD social media sites or by calling 270-886-9484.
In other action, board members approved some budget amendments for fiscal year 2021, including reflecting that travel expenses are down due to COVID-19 restrictions, along with amending the budget to show the payroll accurately, due to recent retirements and terminations that left those positions empty.