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Board accepts staff financial report; one borrower noted as delinquent
Summary
Staff presented an updated loans report showing improving repayments overall but one borrower remains delinquent, staff said. The board voted 5-0 to accept the report and asked nothing further at this meeting.
A staff member presented an updated financial report covering the fund's loans and balances and said most borrowers are repaying as expected, though one borrower "continues to avoid paying," staff said.
Board members discussed the revolving loan fund's status but recorded no additional action beyond accepting the report. A motion to accept the financial report was made and the board voted 5-0 to approve it. The staff presenter told members the fund balance had increased as repayments came in and summarized current outstanding loans.
Members did not authorize any immediate collection action on the delinquent account during the meeting; staff indicated they had recently spoken with the borrower and would continue outreach.
