Finance staff presented a $147 million preliminary 2027 budget and the committee agreed, by consensus, to several post‑preliminary adjustments including reallocating attorney expense, charging credit card fees to customers, pausing a SWAT rental line, and raising pet license fees to $20.

City advisers recommended a parameters (pricing-committee) resolution to allow staff to award a fall refunding/improvement bond sale within preset limits; committee consensus favored flexibility to time the sale optimally amid market volatility.

Finance staff rolled up the city's long-term commitments to a figure staff associated with the current reporting cycle and explained recent GASB lease/subscription reporting changes and pension liability recognition that affect the long-term picture.

The finance committee reported county sales tax collections are about 12% higher and the city's about 5% higher year‑to‑date; the auditor issued an unmodified (clean) opinion on the 2025 financial statements issued June 22, 2026, and the board received and filed the audit.

Staff updated members that the authority’s $569 million WIFIA loan (approx. 2.008% interest, 40-year term) is being drawn down to reimburse milestone payments; a draw of roughly $105.6 million is expected at month-end after receipt of the audit and model update.

The City of Fargo, acting as fiscal agent, reported a clean opinion on the Diversion Authority’s 2025 audit, noting a $33M increase in assets, a $95M increase in CIP from milestone payments, and differences between accrual (audit) and cash (monthly) reporting.

The Diversion Authority approved cash‑budget change request No. 24 to cover a $17.7 million payment to the U.S. Army Corps of Engineers that moved into 2026 after a PPA amendment; the measure passed by roll call.

The Diversion Authority approved resolutions to distribute a preliminary official statement for subordinated sales‑tax bonds (about $255 million, including roughly $35 million to refund existing bonds) and to amend a 50/50 match policy to back Morehead grant applications; staff also reported a $15 million WIFIA draw is expected soon.

Finance staff told the board they expect a WIFIA draw of about $70–$75 million in June against a $569 million loan and outlined plans to release a preliminary official statement and later a parameters resolution for a subordinated sales‑tax bond sale amid volatile markets.

The Diversion Authority Finance Committee on May 27 approved bills totaling $2,428,980.86, including a large invoice from the city of Fargo, and accepted a finance report showing a net position reported around $253.7 million; members also received updates on developer payments and upcoming funding draws.

Mayor Mahoney presented a breakdown of Fargo's debt by category, saying headline totals approach $1.37 billion while noting special assessments and other reimbursements reduce the city's net burden; commissioners pressed for clarity on diversion and water-supply project costs.

Authority staff reported a roughly $47.5 million WIFIA draw to date on a $569 million loan facility and recommended waiting 30–60 days before selling a temporary subordinated sales‑tax bond because of recent interest‑rate volatility; staff expects a parameters resolution in May or June.

The Diversion Authority Finance Committee approved Amendment No. 2 to the Project Partnership Agreement with the U.S. Army Corps of Engineers, allowing non‑federal sponsors to access unused federal funds before final Corps administrative closeout; the committee approved the amendment by roll call.

The Diversion Authority Finance Committee approved bills totaling $1,241,170.01, heard a finance report showing a consolidated net position of roughly $222.7 million, and was briefed on a planned WIFIA draw just over $47.5 million; staff reported more than $47 million in spending last month, mostly milestone payments to the developer.

Fargo's finance committee approves bills and discusses declining sales tax and budget trends.

City anticipates $931 million in expenditures this year, focusing on developer payments.