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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> • <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: William Rubin,Executive Direct/94,— <br /> DATE: May 8, 1995 <br /> SUBJECT: Agenda Memo for <br /> May 8, 1995 Meeting <br /> 5. May Financial Update/Check Register <br /> Assistant City Administrator Lori Johnson has provided summaries on the <br /> following funds: <br /> Micro-Loan Fund- The Micro-Loan fund had a cash balance of$124,212.62 as of <br /> rApril 30, 1995. All loans were current except Roma Tool, Alltool, Americlnn, <br /> Designing Women, Indy Lube, Woodsmen Quality Products, LaRose Enterprises, <br /> and Water Laboratories all of which had not made their May payment. <br /> DTED Loan Fund - The DTED Loan fund had a cash balance of$31,928.11 as of <br /> April 30, 1995. <br /> Check Register: Enclosed in the agenda packet are the various check registers <br /> that have been processed since the April meeting. These bills are processed at the <br /> same time city expenses are approved by the City Council. Bills directly <br /> attributable to the EDA are processed on EDA checks and are sent out with the <br /> city's payments. <br /> Action Requested <br /> The EDA is asked to review the check register and acknowledge its receipt. <br /> 6. Public Hearing on Industrial Park Site Sale <br /> This item has been outlined in greater detail in a separate memo from City <br /> Administrator Pat Klaers. In. addition, Dr. Ron Bratlie, director of finance and <br /> • support services for District No. 728, will be in attendance to provide an overview <br /> of the district's expansion plans for Lot 8. <br /> P.O. Box 490 • 13065 Orono Parkway • Elk River, MN 55330-1743 • (612) 441-7420 • Fax: (612) 441-7425 <br /> Equal. Opportunity Housing and Equal Opportunity Employment <br />