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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> • MEMORANDUM <br /> TO: ECONOMIC DEVELOPMENT <br /> AUTHORITY <br /> FROM: WILLIAM RUBIN, EXECUTIVE( J <br /> DIRECTOR (// VV <br /> DATE: DECEMBER 12, 1994 <br /> SUBJECT: AGENDA MEMO FOR DECEMBER 12, <br /> 1994, EDA MEETING <br /> 5. December Financial Update <br /> The following is a summary from Finance Director Lori Johnson: <br /> Micro-Loan Fund The Micro-Loan Fund had a cash balance of <br /> $120,054.33 on November 30, 1994. As of Thursday, December <br /> 8, all December payments are current except Alitool and Water <br /> • Laboratories. A check for $50,000 for the Auto Mall was cut in <br /> November. <br /> Block Grant Micro-Loan Fund The Block Grant Micro-Loan <br /> Fund had a cash balance of$17,878.11 on November 30, 1994. <br /> ACTION REQUESTED <br /> This is an informational item only and no action is requested. <br /> Statement of Expenses Payable <br /> A Statement of Expenses Payable will be distributed at the meeting. <br /> The Statement will include expenses payable to the City of Elk River <br /> for the operation of the Economic Development Department in 1994. <br /> ACTION REQUESTED <br /> The EDA is asked to approve payment to the City of Elk River in the <br /> amount shown on the Statement of Expenses Payable. <br /> • <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 />