The Amarillo City Council convened on Tuesday during its regular meeting to address the ongoing financial review of the Amarillo Economic Development Corporation (AEDC) following a $750,000 wire transfer to The RANGE, an industry-led organization in the Texas Panhandle, made without council approval. The council’s discussion centered around ensuring accountability, implementing tighter financial policies, and considering how the AEDC can continue promoting economic growth amid public scrutiny.
The financial review, initiated after concerns were raised by local businessman and former Randall County Commissioner Craig Gualtiere, focused on the AEDC’s financial practices over the past three years. Gualtiere, through a series of open records requests, discovered what he alleged to be an unauthorized transfer of public funds. This led to an outcry from citizens, calling for stricter oversight and greater transparency. The City Council has since been conducting a thorough audit to ensure taxpayer funds are being managed properly.