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What is the difference between the discretionary fund and consolidated fund?

April 26, 2017consolidated difference Discretionary fund

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What is the difference between the discretionary fund and consolidated fund?

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The consolidated fund is where the EDIT revenue from all contributing organizations is kept. It is used for economic development programs and requires the approval of the EDC board of directors and the Wayne County Commissioners. The discretionary fund is a portion of the EDC’s yearly budget approved by Wayne County Council and is set aside for use by the EDC for smaller economic development projects. This fund requires approval only from the EDC board of directors.