Diversion Authority finance committee approves bills and finance report; net position $262.3 million

The Diversion Authority Finance Committee on Jan. 21 approved payment of bills received through Jan. 14 totaling $1,257,444.35 and accepted a finance report showing a combined net position of $262,272,122.

Susan Thompson, finance director for the City of Fargo, presented the bills and the year‑to‑date finance summary. "These are the bills that were, received through January 14," Thompson said, adding that the total was "$1,257,444.35." Thompson also reviewed packet materials (page 28) showing revenues and expenditures beginning in 2021 and carrying through a year‑to‑date summary for 2025.

The committee moved and seconded approval of the bills and later approved the finance report by voice vote. Thompson noted the total assets for the three funds were $262,454,065 and after liabilities the reported net position stood at $262,272,122.

The committee also heard a cash‑budget update from Executive Director Jason Benson, who said sales tax collections in Fargo and Cass County were slightly below projections and that a major WIFIA draw had not been taken in 2025. "We didn't make any draws out of this year and we expect, you know, within the next 3 to 4 months, we're gonna start making significant draws on that," Benson said.

Benson described milestone payments tied to the developer settlement agreement and said many expenditures expected to occur in 2025 were rolled into 2026. He confirmed that the budget carryover (stated during discussion as $22,424,735) will largely be applied to 2026 expenditures as work deferred from 2025 is completed.

The committee set its next meeting for Feb. 25, 2026, and adjourned after routine housekeeping.

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