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Open Space Board reports $43.7 million month-end balance and lists pending projects
Summary
Finance overview presented March 17 showed a Feb. beginning balance of $43,018,155.25, revenue of $2,713,602.03, disbursements of $1,988,980.29 and a month-end balance of $43,742,766.99; staff also listed pending projects and noted a contractual step for LA 25-03 Arenberg.
Kevin Quinn, division director for Open Space, presented the board’s financial statement for February at the March 17 meeting.
Quinn reported a beginning month balance of $43,018,155.25, revenue of $2,713,602.03 and disbursements of $1,988,980.29, yielding a month-end balance of $43,742,766.99. He also listed Schedule A encumbrances of $14,686,869.57, Schedule B recommendations of $1,649,576.00 and a fund balance of $27,406,331.42.
Quinn reviewed pending projects seeking approval, including MP 25-02 (Cecil Creek), MP 25-03 (10th Street Wharf), FP Sayre (Upper/Lower Township entries), and LA 25-03 (Arenberg). He told the board that Planning staff has a seller-signed contract for LA 25-03 Arenberg that will be executed at the next Commissioners’ meeting; after execution Quinn said staff will begin title work and schedule closing. Board chair Peter Lomax commended staff for removing expired projects from Schedule A.
The board approved the February 17 open and closed minutes (motion by Commissioner Bobby Barr; second by Ronald Simone; all in favor). The board then moved to closed session at 12:26 p.m. and returned to open session at 1:13 p.m.
