[This transcript was generated automatically from audio using AI and hasn't been reviewed by a person -- it can contain mistakes, including plausible-sounding sentences that were never actually said. Treat it as a starting point, not a verbatim record.]

[0:03] Okay. All courting has started. Okay. It is 332 on August 17th. We have a quorum here of the
[0:13] Registration States, Infrastructure, Financing District. Do we have a motion to call this
[0:18] meeting to order? I move that we call it to order. And I second that. All those in favor?
[0:27] All right.
[0:30] This meeting is called to order. We have no preliminary action items today which brings
[0:35] us to public comment. We have a motion to open the public comment portion of this meeting.
[0:43] That we open the public portion of this meeting. Thank you. I second that.
[0:49] All those in favor. All right. The public comment portion of this meeting is open. I don't see
[0:57] Any members of the public online, but I'll pause for a moment.
[1:03] Okay, hearing none, do we have a motion to close the public comment portion of this meeting?
[1:09] We close the public portion of the meeting.
[1:12] And I second that.
[1:14] Thank you all in favor.
[1:17] Aye.
[1:18] Aye.
[1:19] All right, moving right along, that brings us to the consent items.
[1:23] We have two items on the consent agenda today.
[1:25] Those being the approval of the draft minutes from the last board meeting on April 29th,
[1:30] 2026 and a ratification of payments made since that last board meeting.
[1:36] Happy to answer any questions that anyone might have.
[1:39] If there are none, I would take a motion to approve the draft minutes.
[1:44] I review these. They look accurate to me. I approve that we approve them.
[1:52] Can I second that?
[1:53] All right. Motion in a second. All those in favor.
[1:58] Okay. Perfect. The next item are the claims from the last board meeting.
[2:05] Those were enclosed in the packet. Again, happy to answer any questions.
[2:09] Or if there are none, just a motion to ratify those claims.
[2:13] We ratify the payments that have been made.
[2:18] And I second that, okay, the motion has been seconded all those in favor.
[2:26] All right, that brings us to our action items, we just have one today, and that is the review
[2:32] and acceptance of the Q2 financial statements, Lauren, I will let you review those.
[2:38] Perfect.
[2:39] And I am in a room where I have one screen, so if you could share for me, yeah, that'd be
[2:44] perfect.
[2:45] Thanks, Nick.
[2:47] So board, the financial statements today are as of June 30th, and we're starting with
[2:53] the balance sheet here, total assets we're sitting at, just over 58 million, with 47,000
[3:00] of that sitting in the General Fund, 38.4 million sitting in the debt service fund, and
[3:06] then 19.6 million sitting in the Capital Projects Fund, mostly in that construction account, but
[3:12] little bit in the working capital fund. And then on the accounts payable side, it looks like an
[3:18] accounts payable balance of 6,980.
[3:23] And if we can scroll down one page, Nick,
[3:27] the moving to the
[3:28] general fund here, so far total revenues are 2614, all of which is the interest income that's come
[3:36] in so far. And then total expenditures are 29,930, made up of the administrative costs for accounting
[3:44] being looks like district management and then the legal costs that have come through.
[3:50] So then after that transfer in or and I had one question on that we have that district
[3:56] management actual versus variance, but we didn't have a budget for that.
[4:01] Is that something that should be in accounting and auditing or is that separate from?
[4:06] I think originally it was all budgeted within the accounting costs there,
[4:11] that $20,000, but CLA splits it out since we're doing the district management now. So that's
[4:18] why you're seeing that split. It should still all be worked. Was that after we switched from
[4:25] Tom kind of helping with it to you guys doing everything? Is that what that represents?
[4:30] Yep, exactly. And that's why you're seeing the split. It should still all be within budget
[4:35] it, just in the different buckets here.
[4:38] Gotcha.
[4:39] Thank you.
[4:39] Yeah.
[4:40] Good question.
[4:42] Let's see.
[4:43] I think I left off on this transfer from other funds.
[4:46] So this 56,020, that represents the administrative carve-out that was transferred from the Capital
[4:52] Projects Fund.
[4:54] So after that transfer, our ending fund balance is 41,494,
[5:01] and then moving to the debt service
[5:03] fund.
[5:05] Okay. One question on that. That transfers to their fund, that foreground. What does that represent?
[5:13] So that hasn't happened yet, but that will be a chance for the paying agent fees. So it'll get paid
[5:22] from the general fund. It looks like and it'll get transferred to the debt service fund because that's
[5:28] a debt service cost. Does that make sense? Yeah. But then on the debt service fund here, you'll see a chance
[5:35] for in 4,000 if we scroll down.
[5:42] Yep, so then you'll see that 4,000 right there. So that those
[5:47] invoices did come through last month, so you'll probably see that expense on next quarter's financial
[5:52] statements as well. Thank you. Then here in the debt service phone so far interest in 2021, 760,
[6:04] And then on the expense side, we did have the bond interest payment made on June 1st, 1 million 17,000.
[6:14] So then our ending fund balance on the debt service fund is, it's like just under 5.9 million.
[6:23] And then lastly, the capital projects fund.
[6:26] And so far, interest income of just under $415,000, and then we did have the acceptance
[6:35] of reinversible costs of $4.6 million to conceive below as well with the repayment and
[6:41] the recognition of costs for that same amount.
[6:44] And then the engineering costs that have come through of $13,850, and then lastly, this transfer
[6:51] to other funds that we saw for administrative costs, this went to the general fund for
[6:56] those, the administrative carve out. So after that movement, it looks like our ending fund
[7:01] balance and the capital projects fund is $19,599,898. Any questions I can answer on the
[7:11] financials today. No additional questions from me. Thank you.
[7:17] None from me either.
[7:22] The Nick, I'll let you ask for the motion that you need.
[7:24] Sure. Sure. The barring and other questions, we would take a motion and a second to accept
[7:30] the Q2 financial statements. We accept the Q2 financial statements.
[7:37] And I second that.
[7:39] Thank you very much, all those in favor.
[7:42] Hi.
[7:44] Okay.
[7:45] That brings us to the end of our action items.
[7:49] A portion of the agenda next.
[7:51] It's just an open meeting for.
[7:54] Any updates on any public infrastructure business?
[7:58] I'll pause here if any board members would like to provide any update.
[8:03] I think that we've provided, I think you're up to speed on everything Ryan, so I don't have anything necessarily to, the construction is moving along great.
[8:13] On schedule, doing great, we've got our agreement done with highland city.
[8:18] Oh, hey, I feel good about where we are.
[8:23] Okay, that's great.
[8:26] Okay.
[8:28] If there is no other business to come before the board today, we would just accept a motion in a second to adjourn at 340.
[8:38] We adjourn the meeting.
[8:40] And I second that.
[8:42] All those in favor?
[8:44] Aye.
[8:44] Thank you.
[8:46] All right.
[8:46] We are adjourned. Thanks, everyone.
[8:48] Thanks, everybody.
[8:49] Thank you.
[8:49] You