· Related development
AEDC board adopts approval threshold for unbudgeted spending over $50,000
The AEDC board approved policies requiring AEDC board and City Council approval of unbudgeted expenditures over $50,000 and a budget amendment when a budgeted line is exceeded by more than $50,000. The council approved an AEDC operating budget limited to salaries, contractual obligations and operating expenses on September 30, 2024.[1]
Amarillo Economic Development Corporation (AEDC)
What the sources say
- ✓ Verified
The AEDC policy approved September 24, 2024 states: 'All Expenditures over $50,000 that are not budgeted for will require Amarillo EDC Board and the Amarillo City Council Approval. In addition, any budgeted line item that exceeds $50,000 over the budgeted amount will require a budget amendment approved by the Amarillo EDC Board and the Amarillo City Council.' Expenditures over $500,000 also require two signatures.[1]
- Approval threshold
- $50,000