Finance Committee Meeting – May 22, 2024

See full minutes.

A regular meeting of the Metro Flood Diversion Authority Finance Committee was held on May 22, 2024. The following members were present: Bernie Dardis, Mayor, City of West Fargo; Dr. Tim Mahoney, Mayor, City of Fargo; Susan Thompson, Finance Director, City of Fargo; Lori Johnson, Clay County Auditor/Treasurer; Chad Peterson, Cass County Commissioner; Shelly Carlson, Mayor, City of Moorhead; 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: Rick Steen, Cass County Joint Water Resource District and Dave Piepkorn, Fargo City Commissioner.

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 APRIL 2024 MEETING

MOTION PASSED

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

3. APPROVE ORDER OF THE AGENDA

MOTION PASSED

Mayor Carlson moved to approve the order of the agenda as presented and Mayor Mahoney seconded the motion. On a voice vote, the motion carried.

4. APPROVAL OF BILLS

Ms. Thompson reported that the bills payable through May 15, 2024, total $4,714,017, and are payable to the usual vendors, with CCJWRD being the largest at $3,678,621.

MOTION PASSED

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

5. FINANCIAL REPORT

Ms. Thompson reported that the total assets as of April 30, 2024, are $237,547,953; liabilities total ($6,150,799), and the current net position is $243,698,752.

MOTION PASSED

Mayor Carlson moved to approve the financial report as presented and Mr. Redlinger 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. The sales tax revenues from the City of Fargo and Cass County are slightly underreported due to the lag in reporting. There have been no Legacy or SRF bond draws to date, and as anticipated, lands and utilities continue to be the largest expenses. The operations budget is also tracking on budget and costs to date are $507,929.

7. DA BOARD APPROVAL CONTRACTING ACTIONS

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

Task Order 16, Amendment 0 – Utility Relocation – this task order will include burying approximately 2.2

miles of OH power out of the existing Oxbow substation from Main Avenue near Bakke, ND, to the SE-3

crossing on Highway 81 near the Red River Structure. Cass County Electric CO-OP, Inc., – $556,020.

WP-47C, Change Order 2 – Test Holes and Wells – this Change order is required to increase the number of

monitoring wells to allow for aquifer testing for five production well locations. It also accounts for changing

the well casing material from SDR 21 PVC to SDR 17 PVC due to the change in well depth per the final

design. LTP Enterprises, Inc., – $142,993.

MOTION PASSED

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

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

8. OTHER BUSINESS

a. WP52A Bid Award

The contract for Work Package 52A gravel resurfacing, Cass County, North Dakota, was publicly advertised, and three bids were received at the virtual public bid opening on April 25, 2024, at 1:00 PM. Bids were received from Central Specialties, Inc., in the amount of $501,551; Industrial Builders, Inc., in the amount of $479,655 and Park Construction Company, in the amount of $538,829. The engineers estimate for the project was $459,002.

Jacobs (PMC), HMG LLC (EOR), and the Authority’s legal counsel have reviewed and evaluated the bid documents and recommend the Metro Flood Diversion Authority award the contract for WP52A to Industrial Builders, Inc., in the amount of $479,655 as the lowest responsive bidder.

MOTION PASSED

Mayor Mahoney moved to award the bid to Industrial Builders, Inc., and Mayor Carlson

seconded the motion. On a roll call vote, the motion carried.

b. Land Budget Allocation

Ms. Smith reported that the land budget was reevaluated and increased by $1.5 million due to costs in SE 2B, 3, 4, & 5; there are additional funds in the diversion channel fund to cover this adjustment. The budget will be reviewed again in July, at which time a $22 million increase in the Upstream Mitigation Area will be needed.

MOTION PASSED

Mayor Mahoney moved to approve the budget allocation and Mr. Grindberg seconded the motion. On a roll call vote, the motion carried.

c. Resolution Related to The Automatic Issuance and Exchange of Temporary Authority Loan Improvement Warrants

Mr. Shockley provided an overview and summary outlining the above-referenced resolution:

MOTION PASSED

Mayor Carlson moved to approve the resolution as presented and Mr. Peterson seconded the motion. On a roll call vote, the motion carried.

9. NEXT MEETING

The next meeting will be June 26, 2024.

10. ADJOURNMENT

The meeting adjourned at 4:19 PM.