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CFO outlines IDA investments, sale proceeds and interest earnings
Summary
CFO Anthony Ferrendino summarized the IDA's investment positions, reporting a $219,000 year-end savings balance, $332,000 in property-sale proceeds and interest earnings during the year; he summarized total holdings across accounts.
CFO Anthony Ferrendino presented the IDA investment report and walked the board through recent account activity. He said the agency ended Dec. 31, 2024, with a $219,000 balance in savings and that the agency sold a property on the north end for $332,000. He also reported operating transfers of $108,729 and interest income of $41,760.
Anthony summarized the agency's total holdings across savings, checking and certificates of deposit. The transcript contains a formatting error for the total figure; Anthony stated the total but the recorded text is garbled. He also noted there remains an outstanding balance described in the transcript as $782,006.46 in fees.
