In a recent government meeting, council members discussed significant concerns regarding the Amarillo Economic Development Corporation (EDC) and its financial practices, particularly related to a membership fee increase for an initiative known as \"The Range.\" Originally approved at $100,000, the fee was later raised to $250,000 without council approval, leading to a total expenditure of $750,000. This situation has prompted calls for greater oversight and clearer financial policies.

Council members expressed their commitment to transparency and accountability, emphasizing the need for strict adherence to financial protocols. The discussions revealed a lack of clarity in existing policies, which allowed for the reallocation of funds without proper authorization. Councilman Simpson highlighted the importance of establishing clear guidelines to prevent similar issues in the future, suggesting that any expenditure exceeding $50,000 should require both EDC board and council approval.

The council is considering implementing new policies that would require quarterly financial reviews and mandate that any significant expenditures be documented and approved. Additionally, there is a proposal for a three-year financial review to ensure that past expenditures align with approved budgets.

Council members also debated the timing of approving the EDC's budget, with some suggesting that it should be delayed until new oversight measures are in place. The council aims to ensure that taxpayer money is spent responsibly and transparently, reflecting a shift towards more rigorous financial governance.

As the council moves forward, they are focused on creating a framework that balances operational flexibility with necessary oversight, ensuring that the EDC operates within clear and accountable financial guidelines.