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Finance committee approves bills, finance report and cash-budget items including $14.3 million milestone payment
Summary
On April 23 the Diversion Authority Finance Committee approved payment of bills totaling just over $2.2 million, accepted the finance report, and approved the cash-budget report noting a $14,300,000 milestone payment to the project developer and over $1 million in financing proceeds.
The Diversion Authority Finance Committee on April 23 approved routine financial actions including payment of bills, the monthly finance report and the cash-budget report.
Susan Thompson, finance director for the City of Fargo, told the committee that bills paid through April 16 totaled just over $2,200,000; she identified the largest single item as a Cass County/District payment of $1,500,000 that reflected land‑sale activity and netted proceeds. “Page 5 lists the bills that have been paid through 04/16/2025. They total, just over $2,200,000. The largest 1 is, Cass County direct water resource district of 1,500,000.0 that included, a couple land settlement sales,” Thompson said.
Thompson also presented the monthly finance report (page 26), including a statement of net position. Jason Benson presented the cash‑budget report (page 48) and noted financing proceeds of more than $1 million and a milestone payment of $14,300,000 to the developer for the Shoe Fly BNSF work; Benson described that payment as the largest cost so far for the year and tied to milestone work the developer completed.
All listed financial items and routine agenda votes were moved, seconded and approved by roll call during the meeting. No member spoke in opposition during the recorded votes.
