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VITY, <br />, ICER—M-UNT07=16 <br />r--ebruary 18, 2019 <br />a <br />Re2of4 <br />19=00MILI F=IUMM <br />Mr. Hernandez said that the American SpiralWeld expenses for January were $17,000.00. Mr. Paris pointed <br />out under the American SpiralWeld expenses it shows GHD Services. GHD did core boring at the Oliver <br />Rubber site and the asbestos work at the Superior Switch site. Ray's Tree Service is the first payment for <br />our clean-up of the rail west of 19'h Street. The rail was cleaned up for the purpose of getting a scope of <br />work from Kjarnichi for the next step in the process. Under the New Business Park the first two payments <br />totaling $10,172.88 to Lamar National Bank is for the loan on the property. Mr. Hernandez said that the <br />other expenditures for the month were normal. On the second page under Marketing, TEAM Texas was a <br />$3,000.00 expense. Mr. Paris told the Board that working with TEAM Texas helps the marketing dollars to <br />go further, since we work together as, a group. The expenses for On Top of It Catering and Paris Party and <br />Event Rental were for the event with the Governor in December. Jazzy Frog is a yearly fee for managing <br />the PEDC website. The expense :for Sanchez Land Care is to keep the retention pond in the NW Business <br />Park clean from moss and foliage. Mr. Paris commented on the last page of the Monthly Budget that our <br />cash isJust over four million dollars. Dr. Hashnii made a motion to approve the January 2019 financials. <br />Mr. Hamill seconded the motion. Vote was 4 -ayes to 0 -nays. <br />WIUXII� I 3L 43 Z r i P M MR P —W M4 VAJ I <br />MU W- � 49" - , - . <br />Brittam, Martin of McClanahan and Holmes. <br />Mr. Manning introduced Ms. Brittany Martin with McClanahan and Holmes to present the PEDC yearly <br />audit. Ms. Martin started with the 2017-2018 Annual Financial Report which contains the opinion on the <br />audit. The opinion given is that the PEDC has a clean audit. Page 3 of the audit is the Balance Sheet and the <br />one item that stands out is the $400,000.00 Note Receivable to Campbell's Soup which is a cashback or <br />forgivable note. The Debt Service Fund will be eliminated next year, the fund balance will moved to the <br />General Fund for the coming year. Mr. Hernandez asked about the two million. dollars under Land <br />Development Costs; his question was where this money was spent by location. Ms. Martin answered that <br />they have the information and will send the spreadsheet to Mr. Paris. Dr. Hashmi. asked what the PEDC <br />debt to asset ratio is; he would like to see the total commitments. Ms. Martin pointed to the Income <br />Statement and showed that the adjustment for $6,780.00 for the copier was taken out of the expense and put <br />into assets. The Communications Report shows all the journal entries for the year. This report tells whether <br />or not the entity has issues. Mr. ,Manning thanked Ms. Mai -tin for presenting the audit. Dr. Hashmi made a <br />motion to approve the 2017-2018 Audit. Mr. Hernandez seconded the motion. Vote was 4 -ayes to 0 -nays. <br />Mr. Paris stated that the bids for asbestos abatement and disposal would be opened today. The PEDC will <br />work with GHD to review the bids and score according to the criteria that was requested in the Request for <br />Bid. We will notify each entity the decision. We have five business days to evaluate the bids, which would <br />be by 4:00 p.m. on February 25, 2019. <br />-Compan-, Bid Amount <br />I Priority Environmental <br />Horsley Specialties <br />ARC Abatement <br />$132,900.00 <br />$131,437.00 <br />$134,052.00 <br />