Diversion Authority finance committee approves $2.43 million in bills and accepts finance report showing $253.7 million net position

The Diversion Authority Finance Committee on May 27 voted to approve bills totaling $2,428,980.86 and accepted a finance report showing a net position reported around $253,748,611 as of April 30, 2026.

Susan Thompson presented the bills received through May 17, 2026, and said the largest invoice was from the city of Fargo for two storm lift rehabilitations and an in-town flood project reimbursement. "These are bills received through May 17th, 2026," Thompson said, "they total $2,428,980.86." Committee members asked no substantive questions before members moved and seconded approval.

Thompson also reviewed the authority's historic and year-to-date 2026 revenues and expenditures and the statement of net position. She reported total assets of roughly $253,932,635 and described recent cash activity, including receipt of $100 million from CORE and partial repayments per prior direction. She said staff had processed developer milestone payments and that next month's statement will reflect those changes.

Committee members moved to approve the finance report; a roll call vote recorded all present members in favor and the motion passed. Don called the roll; members recorded as voting in favor included Mayor Dardis, Mayor Carlson, Mr. Stein, Susan Thompson, Mr. Winger, Mr. Pepcorn, Mr. Capitan and Mr. Reese.

The committee received additional financial briefings as information items, including a cash budget report and details on funding sources that staff said are generally on target. The committee set its next finance meeting for June 24.