08/18/2026 Minutes - Laserfiche WebLink

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EXAS � O' MIC IDEVEILOPM t C � I� OR STI Discuss and Consider Approval of July 2026 Financial Statements Executive Director Maureen Hammond presented financial reports ending July 31, 2026. Total assets were reported to be $5,969,370. Total liabilities were reported to be $329,073, leaving the PEDC with a total net position of $5,640,297. She continued with the income statement for the month, citing the reported total revenue as $189,526. She concluded the financial report for the month of July by presenting total expenditures and net income for the month. Ms. Hammond opened the floor to questions regarding the July financial statements. There were no questions. Mr. Fendley made a motion to approve the financial statements as presented. Dr. Hashmi seconded the motion. Vote: 5 -ayes to 0 -nays Discuss and Consider Accounting Proposal from McClanahan & Holmes Chairman Bray took a motion to table Agenda Item 7 for future discussion. Dr. Hashmi made a motion to table Agenda Item 7. Mr. Homer seconded the motion. Vote: 5 -ayes to 0 -nays Convene into Executive Session: Pursuant to Section 551.087 of the Texas Government Code to 1) discuss or deliberate regarding commercial or financial information that the governmental body has received from a business prospect that the governmental body seeks to have to locate, stay, or expand in or near the territory of the governmental body and with which the governmental body is conducting economic development negotiations; or 2) to deliberate the offer of a financial or another incentive to a business prospect described by Subdivision (1), to wit: a) Project Blue Fire b) Project Black Hawk c) Project Catalyst d) Project Hornet e) Project Red Maple 2 III. Pursuant to Section 551.072 of the Texas Government Code to discuss and deliberate the purchase, exchange, lease, or value of real property. IV. Pursuant to Section 551.071 of the Texas Government code, Consultation with Attorney, to receive legal advice from Board's Attorney about (1) pending or contemplated litigation and/or (2) on matters in which the duty of an attorney to his client under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflict with this chapter.