Capital Improvement Board wants a formula and an application process before groups ask it for money
Who it touches
- groups seeking Capital Improvement Board funding
Tracked in the archive
Baker Tilly consultant Kyle Carlson told the Capital Improvement Board (CIB) that its cash balance at the end of August was just under $5.5 million. 0:19:54 — open the recording, cued to 19 minutes 54 seconds
Assuming $2.7 million in Indiana Theater costs, available cash at the end of 2028 would be just under $4 million, about $3.87 million (0:22:22,. 0:22:33 — open the recording, cued to 22 minutes 33 seconds
Chair Brandon Sakbun asked Carlson to work out how much is set aside for debt payments and the CD (a certificate of deposit, a savings account locked for a set term) so the board can say how much is truly available for new requests. 0:22:33 — open the recording, cued to 22 minutes 33 seconds
Board member Karen Dyer said the board has no process now, so anyone can put themselves on the agenda and ask for money, and she backed a written application process. 0:28:56 — open the recording, cued to 28 minutes 56 seconds
Sakbun said he would work with Carlson on the calculation and with counsel on formalizing a process. 0:30:16 — open the recording, cued to 30 minutes 16 seconds
More from the record
- End-of-2028 available cash0:22:22 (22 minutes 22 seconds)
Outcome
No vote; staff and counsel asked to work out how to calculate available money and a request process
No vote was taken, and no date for adopting a process was set.
This summary was drafted with AI assistance and reviewed by an editor against the recording and documents linked above. Nothing publishes without a resolvable source.