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BLDC treasurer reports positive balances; UDAG reduced after loan out
Summary
Treasurer Rachel presented the May financial report, showing a restricted-account balance reported as $556,526.72, a UDAG balance of $240,404.57 (noting a loan disbursement reduced available UDAG funds), and receivables in good standing; the board recorded a low delinquency figure (transcript value "026").
At the July 23 BLDC meeting, Treasurer Rachel presented the May financial statements and walked board members through restricted, UDAG and unrestricted accounts.
Rachel reported that the restricted account ended the month at "556,526 and 72¢" and that the UDAG account showed an end-of-month balance of $240,404.57 (the transcript notes this was before a loan disbursement that reduced the available UDAG balance). She told the board receivables were performing and that the delinquency percentage was shown in the record as "026."
Board members asked clarifying questions about the timing of the UDAG loan and large expenses tied to BLDC-owned properties; Rachel and staff said updated June figures would be provided by the August meeting.
