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EDA financial report: balance $577,694.46; staff noted accounting correction on farm‑relief encumbrance
Summary
The authority heard a financial report that listed a current balance of $577,694.46 and discussed an accounting issue in which staff unencumbered farm relief funds prematurely; the board approved the financial report.
At the start of the meeting authority staff presented the monthly financial report and said the current balance was $577,694.46, noting recent payments from McCall and Grace and Millworks.
Staff told the board that they had unencumbered funds related to a farm‑relief round after the final due date and acknowledged the action was premature; staff said they will refrain from unencumbering funds before the board acts in future. Board members asked for clarification on the items and then approved the financial report.
Ending: Staff will follow the board’s direction on encumbrances and report updated financials at the next meeting.
