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Council members press for clearer oversight after EDA payments appear reinvested without council notice
Summary
Councilors asked for a check registry and clearer reporting after a June transaction showed $7,202.56 leaving an EDA account; treasurer staff said interest payments were reinvested but several members said the council had not received routine transaction reports.
At the meeting council members raised concerns that economic-development agreement (EDA) payments and interest have been moved or reinvested without the council's explicit awareness. A council member said a June transaction showed $7,202.56 leaving an account before a $10,000 interest payment was posted and asked who authorized the disbursement.
Treasurer/staff responded that funds were being reinvested and that the treasurer can provide a printout of every transaction upon request. Council members said they want regular access to a check registry and monthly transaction details for EDA funds so the elected body has proper oversight of receipts and expenditures. One councilor said the board's fiduciary duty requires the council to be informed about where and how EDA money is spent.
