[0:04] All right, so I'll note that the recording is running for posting on the Utah public notice site and with two out of three board members in attendance, we're going to go ahead and call the beating to order at 11.14 in the morning. Pretty small agenda. As you can see, we're going to be approved looking at a consent agenda consisting of minutes and a couple action items. If there are no amendments to the agenda, I will ask for a first and

[0:34] and second to approve this agenda.

[0:38] Motion to approve the agenda.

[0:43] And second.

[0:44] Awesome.

[0:47] And all in favor?

[0:49] Yes.

[0:50] Fantastic.

[0:51] I will go ahead and ask if there's any public online,

[0:55] if you would like to unmute yourself

[0:58] and speak on any non-agenda items.

[1:00] That would be the time.

[1:05] And seeing that there is no public online

[1:07] will go ahead and move ahead.

[1:09] Only item on the consent agenda today is going to be the minutes from the May 4th 26 meeting that was included in your board packet.

[1:18] These were reviewed by us as well as legal.

[1:21] If there are any changes, feel free to let me know if we need to make any.

[1:26] Otherwise, I'll look for a first and second to approve this item as well.

[1:31] Motion to approve the meeting minutes for May 4th.

[1:35] And second non-favor. Yes, so thank you and then we're going to move on to the action items and we're going to at the unordered financial statements for the period ending June 30th and I will go ahead and pass it off to Derek.

[1:53] All right. Sounds good. Share my screen. Oh, you've got it. All right. Scroll on up. We're going to go to the next page.

[2:04] All right. So this is the financials through June 30th.

[2:12] The first page here is the general fund or more of your administrative costs.

[2:16] So we're going to focus on the middle column, the actual through June 30th, 2026.

[2:23] So you'll see the developer advances.

[2:25] These are the invoices that we send over to Wasatch and developers paying those.

[2:32] You can see the breakdown with the expenditures of where those funds are being allocated

[2:37] into which types of invoices.

[2:39] So those are pretty straightforward.

[2:43] forward some of $26,358 in expenditures for general fund so far through the year. Any questions

[2:53] on this fund? Nope. Okay, perfect. I'm going to scroll to the next page, Jake. This

[3:02] is the debt service fund. So you'll see on this one, again, focusing on the middle column,

[3:08] We have received, or received notice of the $74,000 in contract fees that are headed to the

[3:20] district and you also received, or we received $58,000 in interest income on the funds that

[3:28] are sitting in the debt service.

[3:32] Below that, you'll see $1.4 million in bond interest that was paid on the bonds that

[3:38] year so far. So that will give us a total of net revenues and expenditures of 1.3 million

[3:48] expanded. So the ending fund of this balance or the ending fund balance of this currently is

[3:56] 2.6 million and then the breakdown just below that is the capitalized interest which is

[4:03] about exhausted. You have the debt service reserve funds of 2.3 million and then

[4:09] the accounts receivable for those contract fees just waiting for those to come

[4:12] in a 74,000. So any questions on this one? No. Nope. Okay. And scroll down to the

[4:24] next page, Jake. The last one is the Capital Projects Fund or Construction Fund.

[4:29] And there's been $317 of interest that grew through the year and that gives you an ending

[4:37] fund a balance of $17,000, $872 that can be used, reimbursed to the district for construction

[4:46] or capital projects.

[4:49] Trying to make this as simple and straightforward for you guys as possible, so any questions

[4:54] on this page?

[4:59] I guess we need to submit invoices for that $17,000.

[5:06] Yeah, let me see

[5:12] where those are.

[5:15] Yeah, there's some in the sub construction fund and some in the senior construction fund.

[5:20] So, Jake, if you want to scroll up a couple pages to the, oh, yeah, there you go.

[5:26] So at the top there, you'll see the cash senior and cash sub at 6500 and 11,300.

[5:35] So yeah, you could submit invoices for those and we can go through that requisition process

[5:42] and have those funds paid out.

[5:44] That's cool.

[5:45] Yep.

[5:48] And Matt, on this one, sorry, this is Brendan, I, something is tickling my brain that

[5:57] perhaps on the last requisition that your amount submitted was actually more than we had funds available.

[6:04] That's what I think. If that's the case, we may be good to pay out without additional

[6:10] invoices submitted. So let's take a look at that first and then if there is more that we can just

[6:16] send over because of that certification we can, if not then we can let you know and get whatever

[6:24] in voices we need to get that balance drawn down.

[6:27] Okay, thanks.

[6:29] Yeah, that's a great point.

[6:30] Sometimes these interest postings hit after those large

[6:34] requisitions come through and these just yeah, just hang on.

[6:38] So yeah, we'll double check those.

[6:41] That's all I have for the presentation on the financials

[6:43] unless there's other questions.

[6:47] Oh, thanks.

[6:49] You bet.

[6:52] Following that, we'll look for a first and second to approve

[6:55] of the unottled financial statements for the period ending June 30th, 2026 motion to approve

[7:02] as stated. And second. All in favor? Yes? Aye.

[7:10] And Derek would you like to review the payment

[7:12] detail report as well? Yeah, for sure. It's kind of a non-report. So because we're in developer

[7:18] advances, the district isn't paying any cash out at this point. So there's nothing to report on this

[7:25] period.

[7:29] That's that's it on that one and unless there are questions for sure.

[7:37] No.

[7:39] And I'll ask for a first and second on the payment detail or point of reflecting the

[7:44] same time frame. Motion to approve as stated. Second.

[7:53] All a favor?

[7:55] Yes. Hi.

[7:59] So that ends all of our action items. We just had a couple different discussion items.

[8:04] First one is just going to be the 2027 budget process and some proposed dates that we have listed here on the agenda.

[8:13] These are the same dates that we approved during the tentative calendar the meeting earlier in the year.

[8:19] We just wanted to follow up with the board and sure that those dates are still viable.

[8:23] I know there are more towards the end of the year.

[8:25] and PTO and you know family stuff comes up so I want to make sure that those dates were still

[8:32] good for your self-wafing mat. Yeah those dates are still good. Yeah so we'll both move forward with

[8:46] getting those scheduled them on the calendars. We have some holds so I'll push out some meeting

[8:51] calendars there and then we just wanted to have a discussion regarding the house bill

[8:55] 17 requirements, so as you know, and as we've spoken, there is a new requirement in Utah

[9:02] where we have to have the in-person presence for our meetings.

[9:09] With this, there are a couple of requirements.

[9:11] If we can, we would like to have these meetings within the boundaries of the district.

[9:16] If there's not a viable location that's ADA accessible, we would want to have a meeting

[9:22] within the boundaries of the creating entity.

[9:26] Understand that the Herban libraries within creating entities,

[9:29] so that's why we chose that location for this meeting.

[9:32] But just wanted to follow up and double-check with y'all

[9:35] to ensure that there isn't already a location

[9:38] within the boundaries we're able to hold a meeting in,

[9:41] as that would be preferred,

[9:42] otherwise we could continue to use the library as a meeting place

[9:48] or we can find another suitable location

[9:54] just to add to that too as the district is built out. We will want to make sure that it can accommodate the community as well. And right now, I think the library is a good choice. And as, you know, we may have residents attending the future of my want to look at other options.

[10:13] Yeah, we just installed basically a mobile home style office as a sales center there.

[10:25] That was in the process the last week or so getting a concrete pathway to the door to

[10:31] make it ADA-accessible and stuff.

[10:33] So I'll follow up with you on the status of that availability to do that on site up until

[10:41] You know, years down the road when it might be too small for for that so library for now, but by the next meeting might be able to do it on site at that location and I'll let you know.

[10:55] Sounds good. It's very close to that day. I'll make sure to follow up with that.

[10:58] life.

[11:00] And then the only other non-action items wanted to review would be the required board

[11:07] trainings. There are two trainings that board members are required to complete being the

[11:11] Open and Public Meetings Act training, which is an annual meeting that you would complete

[11:16] as well as the special district and special service district board member training, which is

[11:29] each board member on what we may need.

[11:33] Typically, both of these documents are requested

[11:36] by the financial auditor.

[11:38] So they'll request Derek these items.

[11:41] We just want to make sure that we have them on file

[11:43] for when they are requested.

[11:45] So after this meeting, I'll review what we have on our files

[11:49] and follow up if there's any that need to be completed.

[11:53] Sounds good.

[11:54] Sounds good.

[11:56] If I'll ask if there's any other business to discuss,

[11:59] otherwise we can go ahead and I'll ask for a motion to adjourn. Motion to adjourn the meeting.

[12:08] Second. All in favor? Aye.

[12:12] All set. It is 11 at 25 and we are adjourned. Thank you both.

[12:17] Thank you everybody. So have a great day. Have a good one. Thank you.

Joint Special Meeting

Transcript