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Local EDC holds annual business meeting

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O.E. “Bud” Kunkel, left, has been named chair of the board of directors of the Roswell-Chaves County Economic Development Corp. President John Mulcahy, right, describes the organization as financially healthy. (Lisa Dunlap Photo)

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The appointment of new board officers and members and a discussion about the budget occurred during Wednesday’s annual membership meeting of the Roswell-Chaves County Economic Development Corp.

Those attending the meeting, held on the grounds of the Eastern New Mexico State Fair, voted to approve three new members to the organization’s board of directors: Phelps Anderson, Sun Valley Energy executive and an unopposed candidate for the District 66 seat in the New Mexico House of Representatives; O.E. “Bud” Kunkel Jr., owner of Kunkel and Associates, a real estate appraisal firm; and Jude Zimmerman, general manager of the Roswell operations of Dean Baldwin Painting.

Board officers were also elected for the 2018-2019 year. They are Bud Kunkel, chair; mortgage lender Kurt Gass, vice chair; lawyer Rebecca Johnson, secretary; Pioneer Bank President Christopher Palmer, treasurer; and Armstrong Energy executive Robert G. Armstrong, immediate past-chair.

John Mulcahy, president of the economic development group, reviewed the group’s financials.

“We are very healthy as an operation,” he said, “and we did pass our audit recently with no problems at all for the last fiscal year.”

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According to information distributed at the meeting, the 2018-2019 fiscal year budget projects at least $238,000 in income, including $78,000 from membership fees, $112,000 from the city of Roswell and $48,000 from Chaves County. That would be about the same as revenues for 2017-2018, which totaled about $221,547, according to Mulcahy, after some specially designated revenue sources were deleted.

Expenses for the coming fiscal year are estimated at this time to be about $246,313.

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