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SEA financial update: expenses, available balance and earmarked funds
Summary
SEA staff reported year‑to‑date expenses of $105,360 and an available fund balance of 44,640; an "other sources" line of "a hundred and 3,277" was highlighted as earmarked for SEA and the board discussed pending awards and carry‑forwards tied to City Council appropriations.
SEA staff presented the authority's year‑to‑date financials and highlighted several key figures for board review.
The presenter said the expense column is now "$105,360" and that the current available fund balance "will be 44,640." The packet also highlighted an "other sources" line that the presenter read aloud as "a hundred and 3,277" and said those funds were earmarked for the SEA as part of a transition. Staff also noted they printed occupancy‑tax figures for the meeting packet.
Board members asked whether a previously awarded $50,000 would appear in these figures; staff replied that the amount is part of the City Council supplemental appropriation process and will not show until end of year and would carry forward after the council's expected second reading and approval scheduled on Dec. 16. The board also reviewed projected increments to Dakota Riptide's debt service and discussed how approving several pending event grants would affect the available balance (one member estimated approximately $30,000 would remain if current requests were approved).
The board voted to accept the packet and financial report by voice vote during the meeting record. Members asked staff to continue to provide updated numbers at the next meeting.
