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FIZIS TEXAS
<br />LOPMINTCORPORAMN
<br />Where're ans Reach HWher
<br />Citizens' _ pun
<br />Chairman Bray invited those present to speak during the Citizens' Input. No one came forward, and
<br />Chairman Bray closed citizens' input.
<br />Discuss and Consider Ap roval of the November 18 2, 025 Meetin Minutes
<br />Chairman Bray presented the November 18, 2025, meeting minutes for review and discussion. Mr.
<br />Fendley made a motion to approve the minutes as presented. Dr. Hashmi seconded the motion.
<br />Vote: 7 -ayes to 0 -nays
<br />Discuss and Consider Aroval of September and October 2025 Financial Statements
<br />Secretary and Treasurer Chase Coleman presented financial reports ending September 30, 2025. Total
<br />assets were reported to be $11,501,445. Total liabilities were reported to be $2,314,409, leaving the
<br />PEDC with a total net position of $9,187,036. He continued with the income statement for the month,
<br />citing the reported total revenue as $736,443. He noted that this total included a reimbursement for the
<br />EDA Grant fund totaling $504,897. He concluded the financial report for the month of September by
<br />presenting total expenditures and net income for the month.
<br />Mr. Coleman continued by providing a brief report on year-end encompassing the last twelve months.
<br />Total revenues were reported to be $2,918,356. Total expenses were reported to be $1,133,772, leaving
<br />the PEDC with a total net income of $424,473. He provided commentary, noting that both revenue and
<br />net income for the fiscal year were well ahead of budget, while expenses were well under budget. Mr.
<br />Coleman concluded his report by stating that 2025 was a good year for the PEDC and that, upon review,
<br />there appeared to be no discrepancies in the year-end financial statements.
<br />Mr. Coleman opened the floor to questions regarding the September financial statements. Mr. Homer
<br />asked a question regarding the PEDC's projected financial trends for the upcoming year. Mr. Coleman
<br />noted that economic activity was projected to slow in the coming year and that the PEDC would be
<br />conservative with financial expenses moving forward.
<br />Mr. Coleman continued his report by presenting financial reports ending October 31, 2025. Total assets
<br />were reported to be $11,264,481. Total liabilities were reported to be $1,982,064, leaving the PEDC with
<br />a total net position of $9,282,417. He continued with the income statement for the month, citing the
<br />reported total revenue as $168,169. He concluded the financial report for the month of October by
<br />presenting total expenditures and net income for the month.
<br />Mr. Coleman opened the floor to questions regarding the October financial statements. Mr. Roddy
<br />noted that the PEDC's collected sales tax had decreased in comparison to the previous year. He noted
<br />his agreement with Mr. Coleman's analysis of local economy, commenting that he was hopeful that
<br />economic activity would continue to stabilize moving forward. Mr. Bray asked if future PEDC financial
<br />statements would be provided in a timely manner by the City on a monthly basis. Mr. Coleman noted
<br />that the City's new Director of Finance has continued to maintain open communication with the PEDC
<br />and that future financial statements could be anticipated to arrive in a timely manner.
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