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FDEDC reports $3.0 million ending fund balance for February; $564,686 remains encumbered to contractor
Summary
The corporation reported a beginning February fund balance of $3,066,641, $82,912 in revenue, and an ending fund balance of $3,003,447. Staff reported $564,686 remaining on the construction contract, an $18,000 outstanding art contract, and about $2,394 in contingency and testing funds.
City staff presented the downtown economic financial report for February 2025. The report showed a beginning fund balance of $3,066,641, revenue of $82,912 for the period, and expenditures including payments to the contractor. The reported ending fund balance for February 2025 was $3,003,447, with an unencumbered balance reported as just over $2,500,000.
Staff reported $144,773 in payments to Pfeiffer and Sons during…
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