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Finance committee reports nearly $320.2M cash position and $129.0M in forecasted developer payments through 2025
Summary
The authority’s finance committee approved $1,887,247 in bills for the reporting period, reported a net cash position of $320,239,474, and noted a forecast of $129,033,079 in milestone/developer payments expected through 2025; the board approved the finance report by roll call.
The Metro Flood Diversion Authority’s finance committee reported and the board approved on Aug. 28 the authority’s financial actions for the reporting period, including payment approvals and near-term forecasted developer milestone payments.
Mayor Dardis, reporting for the finance committee, said the committee approved $1,887,247 in bills presented for the reporting period and that the authority’s net cash position stands at $320,239,474. Committee members also reviewed and approved memoranda of understanding and agreements listed in the agenda and five contracting actions.
Mayor Dardis told the board that staff forecast approximately $129,033,079 in milestone payments to the developer expected through the remainder of 2025; staff earlier in the meeting had provided a schedule and payment-forecast slides that identified near-term expenditures. The finance report was moved and seconded, and the roll call recorded affirmative votes from Mayor Dardis, Commissioner Breitling, Mister Hendrickson, Mister Ebinger, Miss Kolpak, Mister Campbell, Mister Greenberg and Mister Steen; the motion carried.
No additional discussion or amendments were recorded on the finance report during the meeting.
