you you Good evening and welcome to the August 20th, 2024 Portland Community Center Complex Development Corporation meeting. It is now 6.30 p.m. and I call the meeting to order. Ms. Hall would you please conduct the roll. President Katz-Garot. Here. Vice President Tarioan. Here. Secretary John Green. Here. Director Gary Moore. Here. Director John Sutton. Here. And Director Tom Yardley. Here. Madam President. A quorum is present to conduct me. Thank you very much. Next item on the agenda is the minutes. The Board of Directors will consider the minutes of its August 15, 2023 meeting. I think those are all before you. And if y'all are ready, I- Motion to approve the minutes. Second. There is a motion by Director Moore, seconded by Director Sutton. Is there any discussion on this motion? Hearing none, we'll begin the vote with Director Moore. Four. Four. Four. Four. Four. Motion is approved Excitement our agenda is election of officers the Board of Directors will elect the president vice president secretary treasurer and executive officer for one year term So if you'll look at the current list right now we have President Kathy scuro vice president terio in secretary Secretary John Green, Director Gary Moore, Director John Sutton, Director Tom Yardley, and our Executive Director is Randy Wright. I will entertain a motion. There is no objection, I would like to keep the same officers in their same position. Second. Okay, that was in a form of a motion. That was in a form of a motion. That's in the form of a motion. Okay. You got a second by Mr. Yardley. Perfect. So motion made by Director Green, seconded by Director Yardley. For the following slate, President Kathy Scuro, vice-President Terry O. And Secretary John Green, Director Gary Moore, Director John Sutton, Director Tom Yardley, and Executive Director Randy Wright. Is there any discussion on this motion? Hearing them, we'll begin the vote with Director Yardley. Or. Or. Or. Or. Or. Okay. Motion is approved. Item number five, adoption of the fiscal year 2024-25 budget. The Board of Directors will consider action to adopt the budget for fiscal year 2425, Ms. Martin. Good evening, Board members. As you know, the P-Triple C-DC is fine. Yes, can you hear me now? Is this better? I'll try to speak louder, is that better? The P-Triple C-DC is funded by type B cells tax, which is the half penny out of the two cents that the City collects in cells tax. For the previous three years before fiscal year 24, the city did see an increase year over year in our sales tax of about 9 percent. In fiscal year 24, however, there was a downturn in our sales tax performance this year. We are looking at an average 3 percent decrease for the first nine months of our fiscal year. So for this reason, we did project for fiscal year 25, a 5 percent decrease from our current year's sales tax collections. So although we do expect sales tax to rebound, hopefully during the next coming year we did still remain conservative and budgeted for a further decrease in the next coming year. So we will continue to monitor those collections throughout the year and make any necessary adjustments needed for the budget. So with that being said, the total revenues budgeted for fiscal year 25 are $1,790,576. While expenditures are budgeted at $1,772,170. For a slight surplus of $18,406 for fiscal year 25. So as you can see on the attachment at the beginning of fiscal year 24, the fund balance started at $2,818,700 and $1. We project to end the current year fiscal year 24 with a surplus of $88,852 cents. Oh, $852, excuse me. This does take into account a 10% shortfall in our budgeted revenues. This will give us a beginning balance for our fiscal year 25 budget of $2,953, and a projected ending fund balance in fiscal year 25 of $2,959. Is there any questions on the budget? Any questions? questions. We need to, I guess this is, I don't think we have to, but do we have to go back and never amend our previous budget? I mean right now we've got a projected, you know, at the end, but are we required to go back in amendments? You got existing budget? Yes. And are we required to go back in amendments? You got existing budget? Yes. I'm not sure what going on. For fiscal year 24, when we present the fiscal year 25 budget, there's going to be a fiscal year 24 amendment. And this will be included. The fiscal year 24. We go out of the city councils. Correct. Thank you. I'm sorry. When we go back, that's by that's by our charter that's by but we don't have to do it as a body here. For the PEE triple C board I I can double check on that whether we have to do it. That would be a special call me I mean that would be but remember the PEE triple C D C the type B funds only funds certain things and they And they're used to clear, clearly defined, and not like the general funds hold. It has to be adjusted. Okay. Okay. Thank you. Any other questions? Okay. Hearing none, I will entertain a motion on the 2024-2025 budget. Motion to adopt the fiscal year 2024- 2025 budget. Motion to adopt the fiscal year 2024, 2025 budget as described. So motion made by director Sutton, seconded by director Yardley to adopt the 24, 2025 budget as presented. Is there any discussion on this motion? Hearing none, we'll begin the vote with director Moore. The budget as presented is there any discussion on this motion? Hearing none, we'll begin the vote with Director Moore. Four. Four. Four. Four. Four. Four. Thank you, motion passed. Item number six, board member and staff comments concerning items of community interest that may not be already discussed. Any comments? Comments? Questions? Well, I'm just going to say I appreciate Terry coming once a year or two, five minute, me, seven minute meeting. We were talking a little while ago and you know, you never know know things are really kind of smooth sailing right now but thank you for your service to the city of Portland. I also also like having Mr. Yardley of here it's nice it's like old time. Yeah it kind of brings back old time. I wish all of my boards took up this much of my time. Well you know you're still kind of connected with us, you know, as a county commissioner. We talk quite a bit and make sure that we're all stepping in the same path forward. But Terry. I really like it. We still fight for who gets the second. Very good. Once a year at least. I'm not going to let him go. I'm not going to let him go. I'm not going to let him go. I'm not going to let him go. We're not going to let him go either. With that being said, it is 6.38 p.m. being no further business before the committee, the corporation I call this meeting adjourned.