Economic Development Partners has released its budget for 2013.

The budget has $179,125 in expenses for the year. The two largest expense items are $93,725 for payroll services for two employees and $30,000 for an advertising and marketing budget.

The budget was discussed during EDP's monthly public meeting following the meeting of its board on Monday.

One of the biggest changes in this year's budget is the income EDP is expecting from Madison.

The budget has a negative net income of $24,000, EPD board member Dwayne Cole said. "We've had to change the agreement with the county from $80,000 down to $56,000. We did that purposefully because last year we only received $56,600 from the county. We did that because we want to be more real with our numbers."

EDP's interim director Bernie Murphy said the board has discussed re-branding options.

"We also have talked about a possible name change," Murphy said. "We're conscious that EDP sends a negative message out. We're also trying to make a new start. We're making radical changes in the EDP board."

The board has not yet agreed on a name change.

The board also discussed the qualifications a new executive director most possess. An employment ad has been placed on an economic development website and in several newspapers, including The Madison Courier.

Murphy also said revisions to the mission statement and metrics on how EDP will be evaluated are still being developed.

Roger Williams, EDP board vice president, said that the mission statement is still being revised.

"There's just a few tweaks, as far as mission goes, that we're making" Williams said. "Once we get that, we want to put that out on the website."

"We are working on a lot of different things and trying to get the organization straight," Murphy said. "I would hope it wouldn't take longer than a month."

The board has been reviewing why some companies interested in Jefferson County eventually decide to locate elsewhere.

According to a survey done by EDP, close to 70 percent who pass on locating in Jefferson County do so because of building issues.

EDP has been looking at options to address that problem, including erecting a speculative facility, a building constructed with the intention of placing it on the market for a company to rent.

"We've got some land, we need the buildings," Murphy said.

The board's next meeting is scheduled for April 15.