Members of the Halifax County Industrial Development Authority on Friday accepted a draft budget for the upcoming 2008-09 year. While not giving their final approval, members said they wanted some time to

think about the changes before finalizing their decision. The draft budget includes a contribution from Halifax County for $325,000, only about one-half of the $648,192 earlier requested by the Authority. (The IDA local budget contribution for the current year stands at $465,399.) One of the largest cuts in the draft budget comes in personnel, where County Supervisors declined to include the salary of an executive director until one is hired. Another personnel cut announced following Friday's meeting was that of the elimination of the current office manager on June 30. Total payroll expenses included in the upcoming draft budget total $95,556.97 with another $31,024.72 added for fringe benefits.

The largest expenditures for the IDA come with the operation of Building One in Riverstone Technology Park where the costs for the coming fiscal year total $1,134,904. The electric bill for the building is estimated at $75,000 for the year with gas costing $30,000 and debt service running $1 million annually. On the income side, Riverstone

Building One brings in $1 million from the Tobacco Commission, $25,000 in rent from MBC and another $18,750 from Va. Tech rent for a total income of $1,043,750. Expenses for Building Two at Riverstone are estimated to run $19,065 while the income from its rental brings in $64,200. Electricity and water at Riverstone Park cost another $7,500. The other large expenditure for the IDA is the ABB expansion project which is estimated to cost $1,192,320 in the upcoming year with most of that being debt service.  Income from the lease of the facility will

bring in that same amount. IDA members are expected to approve the draft budget at their upcoming

May meeting.