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PIE -DC Board Meethig Win utes February 18, 2019 Page 2 of 4 Di ials'. Mr. Hernandez said that the American Sp crap expenses for January -were $17,000.00. Mr. Paris pointed out. under the American. SpiralWeld expenses it shows GHD Services. GHD did core boring at the Oliver Rubber site and the asbestos work at the Superior Switch site. Ray's Tree Service is the first paymentfor our clean-up of therail west of 19d' Street.. The rail was cleaned up for the purpose of getting a scope of work from 16amichi for (lie next step in the process. Under the New Business Park the first -two payments totaling $10,172.88 to Lamar National Bank is for the loarl on the property. Mr. Hernandez said that the other expenditures for the month were normal. On the second page under Marketing, "T'EAM Texas was a $3,000.00 expense. M.r. Paris told the Board that working with "I'EAM Texashellps thernarketing dollars to go further, since -we work together as a grou.1). The expenses for OnTop orf Qt Cateing and .parisParty and .Event Rental were for the event with the Governor in December. Ja7zy Frog is a yearly fee formanaging the PEDC website. The expense ffir Sanchez Land Care is to keep -the retention pond in the NW Business Park clean frommoss andfoliage. Mr. Paris conimented on the last page of the Monthly Budget that. our cash is just over four million dollars. Dr.:Has:.. made a motion to approve the January 2019 financials. Mr. Hamill seconded the motion. Vote was 4 --ayes to 0 --nays, D e 2017-2018 fiscal year as presented by Brittanv Martin of'.McClanahan and Holmes, Mr. Marmijag introduced.Ms. Brittany Martin with McClanahan and Holmes to present 1he PED C yearly audit. Ms. Martin started with the 2017-2018 Annudl Financial Report which contains the opinion on the audit. The opinion gi ven is that the PEDC has a clean audit. Page 3 of the audit is fine Balance Sheet and the one item that stands out is the $400,000.00 Note Receivable to Campbell"s Soup which is a cashback or forgivable note, The Debt Service Fund will be eliminated.riext year, the fund balance will moved to the General Fund for the coming year. Mr. Hernandez asked about the -two million dollars under Land Development Costs; his question was were thisnioney was spent bylocation. Ms. Martin answered that they have the information and. will send the spreadsheet to Mr. Paris. Dr. Hashrrii asked what the PEDC debt to asset ratio is; he wouild like to see the total commitments. Ms. Martin pointed to the Income Statement and showed that the adjustment for $6,780.00 for the copier was taken out of the expense and put into assets.. The Corninunications Report shows all the journal entries for ttie year. 1'his report tells whether or not the entity has issues. Mr. Manning thanked Ms. Martin for presenting the audit. Dr. Hasp made a motion to approve the 2017-2018 Audit. Mr. Hernandez seconded the motion. Vote was 4 -ayes to 0 --nays. BigQL �)eni ng .—Asbestos Abatement..and, Disposal for former Superior SwitchBuffdjRg_RL2�j� LOOP 286. Final Decision after Bids are Evaluated and within Five Business_pays. Mr. Paris stated that the bids for asbestos abatement and disposal would be opened. today. Th. e.PEDC will work with GHD to review the bids and score according to the criteria, that was requested in theRequest for .Bid. We will notify each entity the decision. Welhave live business days to evaluate the bids, -which -would be by 4:00 p.m. on February 25, 2019.