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Diversion Authority finance committee approves bills, hears cash-budget update showing $321.9 million net position
Summary
The Diversion Authority Finance Committee on Feb. 26 approved bills totaling about $2.8 million and heard a cash-budget update showing a net position of $321,945,635 and ongoing legacy bond draws that leave roughly $60.6 million in that fund.
The Diversion Authority Finance Committee approved routine bills totaling about $2.8 million and accepted a finance report showing a net position of $321,945,635 as of January 2025.
The net position figure was presented by Susan Thompson, who told the committee the authority’s assets are “primarily cash,” totaling $321,981,885 with liabilities of about $36,250, producing the reported net position. The bills list (through Feb. 19) includes roughly one large land purchase, some property-tax payments and reimbursements to the City of Fargo for in‑town flood projects; Thompson said about half of the $2.8 million is for the water‑resource district.
Finance staff also presented a cash-budget report. Mr. Barthold said the packet reflects recently approved legacy-bond draws totaling about $11.7 million and noted the authority began the year with roughly $87 million in the legacy-bond fund and now has about $60.6 million remaining. Barthold told the committee the sales-tax receipts in the packet reflect a two‑month reporting lag and that revenue to date for January was a little more than $27 million. He also noted $3 million listed under RiverStage projects are reimbursements to the City of Fargo for ongoing work.
Barthold presented the administration budget overview and said the annual salary budget is $1,650,000; year-to-date salary and benefits were below the monthly projection for January. He characterized January as a quiet month for expenses, with only modest land and settlement costs reported.
Committee votes followed staff presentations. The bills, the finance report and the cash-budget materials were approved by roll call.
The presentation and votes were procedural and informational; staff did not request additional direction beyond accepting the reports and moving forward with previously authorized draws and budgeted activities.
Votes at a glance - Bills (through Feb. 19), total about $2,800,000: approved by roll call. - Finance report (net position $321,945,635): approved by roll call. - Cash-budget information (legacy-bond draws, sales-tax reporting): informational (accepted as presented).
