Finance Committee Meeting – June 22, 2022
4:00 pm - 5:00 pm
1. Call to Order
- a. Roll call of Members
2. Approve minutes from May 25, 2022 [Attachment 00.01] (Pg. 3)
3. Approve Order of Agenda
4. Approval of Bills [Attachment 00.02] (Pg. 6)
5. Finance Report [Attachment 01.00] (Pg. 12)
6. Executive Director Financial Report [Attachment 02.00] (Pg. 33)
7. Contracting Actions [Attachment 03.00] (Pg. 40)
- a. DA Board Approval Contract Actions
- i. Minnkota Power Cooperative, TO 3, Amendment 0 [Attachment 03.01] (Pg. 42)
- ii. Schmidt and Sons, WP50F, Change Order 01 [Attachment 03.02] (Pg. 44)
- b. DA Board Approval 2022 Cash Budget Changes
8. Other Business
- a. DA Board Approved MOU and Agreement Actions [Attachment 04.00] (Pg. 46)
- i. Red River Valley Power Coop & MFDA MURA [Attachment 04.01] (Pg. 49)
- ii. SBA & MFDA MOU [Attachment 04.02] (Pg. 90)
- b. Program Information Points
9. Next Meeting: July 27, 2022
FilesSee full packet
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A regular meeting of the Metro Flood Diversion Authority Finance Committee was held on June 22, 2022. The following members were present: Bernie Dardis, Mayor, City of West Fargo; Dr. Tim Mahoney, Mayor, City of Fargo; Dan Jacobson, Chairman, Cass County Joint Water Resource District; Steve Sprague, City of Fargo Interim Finance Director; Lori Johnson, Clay County Auditor/Treasurer; Mike Redlinger, City of Fargo Interim City Administrator; Rick Steen, Cass County Commissioner and Dave Piepkorn, Fargo City Commissioner.
Members absent: Chad Peterson, Cass County Commissioner; Shelly Carlson, Mayor, City of Moorhead; Mike Rietz, City of Moorhead Assistant City Manager and Brandy Madrigga, Cass County Finance Director.
1. CALL TO ORDER
Mayor Dardis called the meeting to order at 4:01 PM. Roll call was taken, and a quorum was present.
2. APPROVE MINUTES FROM THE MAY 2022 MEETING
Mr. Piepkorn moved to approve the minutes from the May 2022, meeting and Dr. Mahoney seconded the motion. On a voice vote, the motion carried.
3. APPROVE ORDER OF AGENDA
Dr. Mahoney moved to approve the order of the agenda as amended, removing item 7 a. ii, Schmidt and Sons WP50F Change Order 01, and Mr. Steen seconded the motion. On a voice vote, the motion carried.
4. APPROVAL OF BILLS
Mr. Sprague reported that the three bills payable through June 14, 2022, total $2,243,174.38 and are payable to the usual vendors, Cass County Joint Water Resource District, Ohnstad Twichell, P.C. and Cass County.
Dr. Mahoney moved to approve the bills as presented and Mr. Steen seconded the motion. On a roll call vote, the motion carried.
5. FINANCIAL REPORT
Mr. Sprague reported that our current net position is $135,793,993.
Mr. Piepkorn moved to approve the financial report and Mr. Redlinger seconded the motion. On a voice vote, the motion carried.
6. EXECUTIVE DIRECTOR FINANCIAL REPORT
Mr. Paulsen reported that city and county sales tax revenues have been coming in as anticipated and there was a $2.2 million draw from the Legacy Funds. Mr. Paulsen stated that there are no concerns with the cash budget, and everything is tracking well.
Mr. Paulsen also reported that an offer has been made for the senior construction manager position. This position was budgeted for, and the salary will come out of the administrative budget.
7. CONTRACTING ACTIONS
a. DA Board Approval Contracting Action
Mr. Paulsen provided an overview of the following contracting action:
Minnkota Power Cooperative, Inc., Task Order 03, Amendment 0 – Oxbow Substation Relocation – Land acquisition to relocate Minnkota Power’s Oxbow substation that is located approximately one mile north of the town of Oxbow and will be located in the backwater flowage easement area of the Southern Embankment – $275,000.
Mr. Sprague moved to approve the contracting action as presented and Mr. Steen seconded the motion. On a roll call vote, the motion carried.
b. 2022 Cash Budget Changes
There were no changes to report.
8. OTHER BUSINESS
a. DA Board Approved MOU and Agreement Actions
Mr. Shockley provided an overview and summary outlining the purpose and necessity for the following MOU and MURA:
- Red River Valley Cooperative Power Association (RRVCPA) & MFDA MURA
- SBA Towers X, LLC & MFDA MOU
Dr. Mahoney moved to collectively approve the MOU and MURA as presented, and Mr. Jacobson seconded the motion. On a roll call vote, the motion carried.
b. Program Information Points
Mr. Paulsen noted that the program information points document has been updated as of June 15, 2022.
9. NEXT MEETING
The next meeting will be July 27, 2022.
The meeting adjourned at 4:18 PM.