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EVERYONE, AND WELCOME TO THE,[Economic Development Corporation Board meeting on December 12, 2022]
UM, RECORD I MEETING OF THE BROOK ECONOMIC DEVELOPMENT CORPORATION.IT IS MONDAY, DECEMBER 12TH, 2022 AND I CALL THE MEETING TO ORDER, UH, AT THIS TIME, UH, BEFORE WE GET TO OUR FIRST AGENDA ITEM TONIGHT, I WANT TO TAKE THE OPPORTUNITY, UM, TO RECOGNIZE, UH, MR. GARY CROW.
UM, TONIGHT WILL BE HIS LAST MEETING ON THE BOARD OF DIRECTORS FOR THE DENVER A DC, AND, UM, ENDING SEVEN YEARS OF SERVICE WITH THE EDC AND I, UM, REALLY APPRECIATE ALL THAT HE HAS DONE, UH, HIS CONTRIBUTIONS OVER THE, UM, THESE PAST SEVEN YEARS, UM, AND HIS, UM, KNOWLEDGE AND, UM, ATTENTION TO DETAIL WILL BE MISSED.
SO THANK YOU VERY MUCH FOR, UH, SERVING BOTH THE EDC AND THE CITY OF BI AND WE WISH YOU ALL THE BEST.
AS YOU MOVE ON, OUR NEXT AGENDA ITEM IS CITIZENS PUBLIC FORUM.
THIS IS FOR ANY CITIZENS WISHING TO COMMENT ON ANY AGENDA ITEM.
MOVING ON TO OUR NEXT ITEM WILL BE TO APPROVE THE NOVEMBER 14TH, 2022 REGULAR BOARD MEETING MINUTES.
THE BOARD HAS HAD AN OPPORTUNITY TO, UM, REVIEW THOSE MINUTES AND IF THERE ARE NO FURTHER QUESTIONS, I WILL, UH, ASK FOR A MOTION, UH, TO APPROVE.
UH, MR. PRESIDENT, I MAKE A MOTION TO APPROVE THE MINUTES OF THE NOVEMBER 14TH, 2022 MEETING.
IS THERE A SECOND, MR. CASEY? I'LL SECOND THE MOTION.
WE HAVE A MOTION AND A SECOND.
IF THERE ARE NO FURTHER QUESTIONS, JUST PROCEED WITH THE VOTE.
NEXT AGENDA ITEM TONIGHT WILL BE A DIRECTIONS REPORT AND WILL RECEIVE A MONTHLY FINANCIAL REPORT FOR THE PERIOD ENDING NOVEMBER 14TH, 2222.
AND I'LL HAND IT OVER TO OUR DIRECTOR, MS. JAMES, UM, WHO WILL PROVIDE THAT REPORT.
STARTING FOR THAT MONTH OF NOVEMBER, WE WILL REVIEW THE UH, PASS SENT CELL TAX THAT YOU ALL RECEIVED.
THE BOARD DID RECEIVE TWO HUNDRED THOUSAND TWO HUNDRED THOUSAND NINE HUNDRED DOLLARS AND 76 CENTS.
THAT BRINGS THE TOTAL FOR THE YEAR TO $1,807,006 AND 46 CENTS.
IN REVIEWING THE LIQUID ASSETS THE BOARD HAS AS OF 1131 AND YOU HAVE A CHECKING ACCOUNT BALANCE OF $2,511,379 AND 64 CENTS.
YOUR CD, UH, REMAINED STABLE AT $3,858,182 AND 84 CENTS, AND THAT BRINGS YOUR TOTAL LIQUID ASSETS AS OF 11 31 22 TO $6,369,562 AND 48 CENTS.
LOOKING AT THE REVENUE FOR THE MONTH OF NOVEMBER, YOU DID RECEIVE, UH, IN SALES TAX 200 $200,900 AND 76 CENTS.
THE INTEREST EARNED ON YOUR CHECKING ACCOUNT AS WE JUST PREVIOUSLY REVIEWED, OF $1,677 AND 5 CENTS.
ALSO YOUR FRANCHISE PAYMENT FROM XTO ENERGY OF $3,896 AND 67 CENTS.
THE BOARD ALSO DID RECEIVE THEIR FINAL RENT PAYMENT FROM RUSSELL FEEDING SUPPLY FOR $6,000.
THIS BRINGS YOUR TOTAL REVENUE FOR THE MONTH OF NOVEMBER TO $212,474 AND 48 CENTS.
EXPENDITURES FOR THE MONTH INCLUDES YOUR TOTAL OPERATING EXPENSES OF $32,978 AND 3 CENTS.
IF YOU LOOK AT THE PENDING PROJECT BALANCE OF $983,096 AND 84 CENTS, AND THEN YOUR OPERATING EXPENSES FOR THE MONTH, THAT BRINGS YOUR TOTAL ENCUMBERED FUNDS TO $1,016,074 AND 87 CENTS FOR YOUR OVERALL FUND BALANCE IN FOR THE MONTH OF NOVEMBER EQUALS YOUR LIQUID ASSETS THAT WE DISCUSSED OF $6,369,562 AND 48 CENTS MINUS YOUR ENCUMBERED FUNDS THAT WE DISCUSSED OF $1,016,074 AND 87 CENTS.
THAT BRINGS THE TOTAL FUND BALANCE FOR THE BOARD TO $5,353,487 AND 61 CENTS.
AND WITH THAT, I'LL BE HAPPY TO ANSWER ANY QUESTIONS THAT THE BOARD MIGHT HAVE REGARDING THE FINANCIALS.
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THANK YOU VERY MUCH MS. JAMES.OKAY, WELL WITH THAT, UM, THAT'S OUR LAST AGENDA ITEM.
AND SO AT THIS TIME I ADJOURN THE BENBROOK ECONOMIC DEVELOPMENT CORPORATIONS DIRECTOR BOARD MEETING AT 7 34.