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Diversion Authority finance committee approves bills, reports positive sales-tax trend
Summary
The finance committee approved a batch of invoices and the regular finance report June 24, noting a positive sales‑tax trend for the past three months and a reported net position of $292,313,797. The committee approved the items by roll call.
The Diversion Authority Finance Committee on June 24 approved routine invoices and its monthly finance report, hearing that sales‑tax receipts have improved in recent months.
Susan Thompson, finance director for the City of Fargo, presented invoices received through June 17 and identified the largest item as a $1.5 million payment to the County Joint Water Resources District "primarily [for] land settlements." Thompson told the committee the packet listed the total requested for approval and then walked members through the packet's revenue and net‑position statements. She said sales tax had been positive for the last three months and that the City of Fargo was about 5.29% ahead year to date.
Committee members moved and seconded approval of the bills and the finance report; the items passed on a roll‑call vote.
Why it matters: the monthly report is used to monitor near‑term cash flows and inform upcoming draw requests and contractor payments as construction activity increases this summer. The finance director flagged variablity in the cash balance tied to larger developer and milestone payments.
The committee set its next regular meeting for July 22, 2026 at 2:00 p.m.
