EDC hears year‑to‑date budget report; software/formula error corrected

The commission received a year‑to‑date financial report covering recent payroll and bond payments, two large grants that were paid, and current balances. The presenter reported a month‑end balance of $626,650 and explained that a formula in the budget‑vs‑actual column left the commitments line at $281,939.46 with a shortfall of $785 that staff will correct.