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Loan fund update: most loans current; staff preparing delinquency policy draft
Summary
Staff reported that most loans in the Evansville City loan portfolio are current, Turley's loan was paid off, and two accounts are more than a year past due. The board scheduled a Dec. 5 meeting and staff will circulate a draft delinquency policy before then.
Staff reported to the board that the loan fund balance remains similar to the prior report, that Turley's loan was paid off, and that two borrowers are more than a year past due. Staff said they are drafting an updated delinquency policy and plan to present a draft at the next meeting.
A board member noted that current terms for several board members expire Dec. 31, 2025, and staff said they would send a link to reapply. Staff also said the board will meet Dec. 5 (executive session 9:15 a.m.; public session 9:30 a.m.) and will circulate a draft of the delinquency policy for review ahead of that meeting.
No formal vote was recorded on the delinquency policy at the Oct. 24 meeting; board discussion focused on timing and next steps for policy completion and follow-up with delinquent accounts.
