Finance Committee Meeting – July 24, 2024

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A regular meeting of the Metro Flood Diversion Authority Finance Committee was held on July 24, 2024. The following members were present: Bernie Dardis, Mayor, City of West Fargo; Dr. Tim Mahoney, Mayor, City of Fargo; Rick Steen, Cass County Joint Water Resource District; Dave Piepkorn, Fargo City Commissioner; Susan Thompson, Finance Director, City of Fargo; David Ebinger, Clay County Commissioner; Chad Peterson, Cass County Commissioner; Mike Redlinger, Administrator, City of Fargo; Tony Grindberg, Cass County Commissioner; Mike Rietz, City of Moorhead Assistant City Manager and Brandy Madrigga, Cass County Finance Director.

Member(s) absent: Shelly Carlson, Mayor, City of Moorhead.

1. CALL TO ORDER

Mayor Dardis called the meeting to order at 4:00 PM. Roll call was taken, and a quorum was present.

2. APPROVE MINUTES FROM THE JUNE 2024 MEETING

MOTION PASSED

Mr. Steen moved to approve the minutes from the June 2024 meeting and Mr. Grindberg seconded the motion. On a voice vote, the motion carried.

3. APPROVE ORDER OF THE AGENDA

MOTION PASSED

Mr. Steen moved to approve the order of the agenda and Mr. Redlinger seconded the motion. On a voice vote, the motion carried.

4. APPROVAL OF BILLS

Ms. Thompson reported that the bills payable through July 17, 2024, total $19,194,298, and are payable to the usual vendors, with CCJWRD being the largest at $16,951,581, and the City of Fargo being the second largest at $1,226,425.

MOTION PASSED

Mayor Mahoney moved to approve the bills as presented and Mr. Grindberg seconded the motion. On a roll call vote, the motion carried.

5. FINANCIAL REPORT

Ms. Thompson reported that the total assets as of June 30, 2024, are $286,910,790; liabilities total $706,111; the current net position is $286,204,679, and the grand total net position is $286,499,354.

MOTION PASSED

Mr. Piepkorn moved to approve the financial report as presented and Mr. Peterson seconded the motion. On a voice vote, the motion carried.

6. CASH BUDGET REPORT

Mr. Barthel reported that the cash budget continues to track well. Legacy funds totaling $49,057,000, have been received to date. $1,620,000 has been received in interest deposits this month for a year-to-date total of $5,740,000. The total monthly revenue is $26,385,000.

$5,533,844, has been spent in the Channel/P3 area; milestone payments to the developer total $1,182,753, and approximately $33,671,404, remains to be paid.

The operations budget continues to track in salary and benefits and office and other categories are in alignment as well.

7. MOUs AND AGREEMENTS

Mr. Shockley provided an overview and summary of the following MURA:

The Owners of the Monticello-Bison Transmission Project (CapX) & MFDA MURA – SEAI & UMA

The purpose of this Master Utility Relocation Agreement (MURA) is to ensure a coordinated, time-efficient, and cost-effective process for completing the Utility Relocation Project, for coordinating operations and maintenance activities after completion of the Utility Relocation Project, and for the development of individual Task Orders issued in conjunction with, and subject to, the terms and conditions of the Agreement. The MURA also incorporates the scope and costs associated with the previously executed Preliminary Engineering Services Agreement (PESA) into future Task Orders executed under this MURA.

MOTION PASSED

Mayor Mahoney moved to approve the MURA as presented and Mr. Piepkorn seconded the motion. On a roll call vote, with Mr. Grindberg abstaining, the motion carried.

8. DA BOARD APPROVAL CONTRACTING ACTION

Mr. Barthel provided an overview and summary of the following contracting action:

Task Order 01, Amendment 0 – Utility Relocation – Monticello-Bison Transmission Project (CapX 2020) – $1,897,429

This is a new task order to relocate the 345kV overhead transmission line. This task order includes engineering design, legal fees, materials, and construction costs associated with the relocation of the transmission line and two new structures to obtain the required clearance over the Southern Embankment reach SE-4.

MOTION PASSED

Mayor Mahoney moved to approve the contracting action as presented and Mr. Peterson

seconded the motion. On a roll call vote, with Mr. Grindberg abstaining, the motion carried.

9. OTHER BUSINESS

There was no other business to report.

10. NEXT MEETING

The next meeting will be August 22, 2024.

11. ADJOURNMENT

The meeting adjourned at 4:39 PM.