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Cameron EDC approves August financials, reports $925,334.21 in cash and CDs
Summary
At its Sept. 20 meeting the Cameron Economic Development Corporation approved August financial statements showing $925,334.21 in cash or CDs, $85,727.60 in checking, IntraFi-insured investments, bond payments and $4,000 in Airshow donations; the motion carried 7–0.
Secretary Mike Zajicek reviewed the CEDC’s financial statements for the period ending Aug. 31, 2024, reporting total cash and certificates of deposit of $925,334.21 and $85,727.60 in the main checking account. He told the board the remaining cash is held in IntraFi CDs and a money-market account so the funds are insured under the investment policy.
Zajicek said bond interest and principal payments were made in August and the organization received $4,000 in Airshow donations. He noted depreciation will not be recorded until the audit is complete and that most budget lines are expected to be close to 100% as the fiscal year closes at the end of September. Mayor Nathan Fuchs moved to approve the financials as presented; Kyle Deal seconded and the motion carried 7–0.
