Apr 23, 2024 EEDC Meeting

[1. CALL TO ORDER, ESTABLISH A QUORUM]

[A. Pledge of Allegiance]

[2. CERTIFICATION OF PUBLIC NOTICE]

[DISCLOSURE OF CONFLICT OF INTEREST]

[4.]

[Aspecific portion of the meeting shall be dedicated toallowing Public Comments which will be limitedto three (3)]

[5.]

[A. Consider Approval of Minutes for the Special Board Meeting held on March 25, 2024.]

[D. Consider presentation and request for matching grant for an internship program by Workforce Solutions and RGV Focus.]

[00:08:00]

16.8 MILLION ON THE BALANCE STATEMENT OF UNASSIGNED FUND BALANCES,

[00:08:05]

WE GET 1075. THAT MEANS THAT THE EDC COULD OPERATE FOR 1075 DAYS IF REVENUES WERE TO STOP BEING RECEIVED, FOR WHATEVER REASON.

WE USUALLY RECOMMEND OUR CLIENTS TO HAVE ANYWHERE BETWEEN 60 TO 90 DAYS.

SO IN THIS CASE, EDC HAS 1000.

SO THEY'RE IN EXTREMELY FAVORABLE POSITION AT THIS MOMENT.

THAT'S GOOD NEWS. YES.

OKAY. LET'S MOVE ON NOW TO THE NOTES TO THE FINANCIAL STATEMENTS.

THAT'S PAGE 16 TO 42. IN THIS SPECIFIC SECTION, YOU CAN FIND MORE DETAILED INFORMATION ABOUT THE FINANCIAL STATEMENTS.

FOR EXAMPLE, YOU WANT TO SEE WHAT WAS THE ACTIVITY FOR CAPITAL ASSETS? THERE'S GOING TO BE A TABLE HERE DESCRIBING THE ADDITIONS AND DELETIONS AND ANY ADJUSTMENT, IF ANY. SAME THING FOR THAT OR FOR ANY OTHER OBLIGATIONS AS WELL, LIKE OPEB, LIKE OTHER POST-EMPLOYMENT BENEFITS OR THE NET PENSION LIABILITY AS WELL. YOU'LL BE ABLE TO FIND THAT THAT INFORMATION THERE.

YEAH, IT WAS VERY THOROUGH. IN FACT, I GUESS BECAUSE YOU ALL ARE ALSO THE AUDITORS FOR THE CITY, RIGHT? SO A LOT OF THIS INVOLVED, I GUESS YOUR THE BENEFITS AND ALL THE THINGS.

THE CITY. YES. WHEN IT COMES TO THE PENSION LIABILITY AND THE OPEB LIABILITY.

YES. WE GET THAT INFORMATION FROM THE CITY.

OKAY. BECAUSE THEY'RE ALL TOGETHER IN THAT PENSION PLAN.

CORRECT. OKAY, LET'S MOVE ON TO PAGE 52.

52? YES, 52. THAT'S A REPORT ON INTERNAL CONTROLS OVER FINANCIAL REPORTING.

SO THIS YEAR THERE WAS NO NEW FINDINGS.

THERE WAS ONLY THREE OUT OF THE FIVE PRIOR YEAR FINDINGS THAT STAYED.

TWO OF THOSE FINDINGS WERE CORRECTED. SO THAT'S WHY THEY'RE NOT CURRENT YEAR.

BUT OUT OF THOSE THREE, THERE'S STILL APPLICABLE FOR THE FISCAL YEAR

[00:10:03]

SO IF MANAGEMENT KEEPS TRACK OF THESE FINDINGS, THEY COULD MORE THAN LIKELY HAVE THEM RESOLVED NEXT YEAR.

FOR NEXT YEAR'S AUDIT.

AGAIN, IT WAS THREE OUT OF THE THREE FINDINGS FROM LAST YEAR.

THREE TWO WERE CORRECTED AND THREE ARE STILL APPLICABLE.

AND THE AND THE THREE THAT ARE STILL OUT THERE ARE BEING WORKED ON AT THIS TIME FROM WHAT I READ. OKAY. IF YOU LOOK ON PAGE 54, MANAGEMENT PROVIDES A RESPONSE FOR EACH RESPONSE FOR EACH OF THE FINDINGS.

AND YOU CAN SEE THERE HOW THEY'VE BEEN IMPROVING COMPARED TO LAST YEAR.

SO THIS CONCLUDES MY PRESENTATION.

IF THERE'S ANY QUESTIONS, WE'RE HERE TO ANSWER THEM AT THIS TIME.

DOES ANYONE HAVE ANY QUESTIONS FOR FRANK WITH ASSOCIATES? NO. OKAY. MR. GARZA, WAS THERE ANYTHING YOU WANTED TO ADD TO THAT? HI. HI, DAN. PLEASE LET THE RECORD SHOW THAT DAN DIAZ HAS JOINED US.

I JUST WANTED TO MAKE A COMMENT THAT THIS WAS A LOT SMOOTHER THAN IN THE PREVIOUS YEAR.

FINANCE DEPARTMENT IS GETTING REALLY SMOOTH AT DOING WHAT THEY NEED TO BE DOING IN TERMS OF REPORTING. AND WE'RE GETTING A LITTLE BIT MORE HELP ON OUR END ALSO.

SO LETTY WASN'T DOING EVERYTHING ALL BY HERSELF THIS TIME.

SO. YEAH. GREAT. AND IT'LL KEEP IMPROVING AS, AS WE GET MORE COMFORTABLE WITH EVERYTHING AND, I KNOW THAT THERE HAD BEEN A PROBLEM BECAUSE THE CITY WAS TRANSITIONING? THE PREVIOUS PEOPLE, AND ALSO, I BELIEVE THIS IS AROUND THE TIME THAT YOU WERE TRYING TO COME IN AND AND SO THERE WAS SOME I'M EXTREMELY HAPPY TO HEAR THAT EVERYTHING'S GOING A LOT SMOOTHER. AND I HAVE NO DOUBT THAT WHATEVER FINDINGS YOU FOUND WILL BE CORRECTED PRETTY SOON.

YES, THANK YOU FOR THAT.

AND I AND I'M ESPECIALLY HAPPY TO SEE THAT WE HAVE OVER A THOUSAND DAYS OF, OF MONEY FOR OPERATIONS.

IF THINGS WERE TO STOP TODAY THAT WE STILL COULD OPERATE.

THAT WAS AS OF SEPTEMBER 30TH.

YEAH, THAT'S REALLY HELPFUL.

NOT THAT THINGS ARE GOING TO STOP, BUT THAT'S REALLY HELPFUL TO KNOW WE HAVE MORE DAYS NOW SIX MONTHS AGO.

SO WITH WITH THAT, CAN I GET A MOTION TO APPROVE THE AUDIT REPORT FOR FISCAL YEAR 2223? I'LL MAKE A MOTION TO APPROVE AS PRESENTED.

SECOND, ALL IN FAVOR, SAY AYE OR RAISE YOUR RIGHT HAND.

MOTION APPROVED. THANK YOU SO MUCH, FRANK.

THANK YOU. WE'RE GOING TO GO AHEAD AND EXCUSE OURSELVES. THANK YOU. THANK YOU SIR. THANK YOU. THANK YOU. OKAY. LET'S GO TO I KNOW WE STILL HAVE WE HAVE SOME OTHER GUESTS WITH US TODAY. SO LET'S GO TO ITEM D, CONSIDER PRESENTATION AND REQUEST FOR MATCHING GRANT FOR AN INTERNSHIP PROGRAM BY WORKFORCE SOLUTIONS IN RGV FOCUS.

[E. Consider Approval ofPresentation of E D C Audit Report for Fiscal Year 2022-2023.]

DANIEL'S WITH THE WORKFORCE SOLUTIONS AND MILLIE'S WITH RGV.

FOCUS. SO WE'RE GOING TO TALK A LITTLE BIT ABOUT A GRANT OPPORTUNITY FOR US AND OUR CITIZENS HERE IN EDINBURG.

THANK YOU. THANK YOU, THANK YOU, MR. GARZA.

GOOD EVENING EVERYBODY.

MY NAME IS DANIEL URIBE.

I'M THE BUSINESS RELATIONS AND INFORMATION MANAGER FOR WORKFORCE SOLUTIONS.

WE SERVE THE THREE COUNTY AREA STARR, WILLACY AND HIDALGO.

SO TODAY WE WOULD LIKE TO PROPOSE AN INITIATIVE TO THE BOARD.

THIS IS WHAT WE CALL THE LEAD INTERNSHIP INITIATIVE.

IT IS AN EXPANSION OF A PREVIOUS INITIATIVE THAT WE STARTED LAST YEAR.

COULD YOU GET A LITTLE CLOSER TO THE MIC SO WE CAN HEAR YOU BETTER? SO THIS IS AN EXPANSION OF THE INITIATIVE THAT WE PROVIDED THAT WE STARTED LAST YEAR.

JUST TO PROVIDE A LITTLE BIT OF BACKGROUND WORKFORCE SOLUTIONS WORK WITH UTRGV LAST YEAR TO BEGIN THESE INTERNSHIPS AROUND SUMMER LAST YEAR, IT WAS VERY SUCCESSFUL.

WE WERE ABLE TO FUND A MEANINGFUL WORK EXPERIENCE, PAID WORK EXPERIENCE FOR ABOUT 30 INDIVIDUALS, AND THAT WAS FUNDED THROUGH A SPECIFIC FUNDING THAT RESULTED FROM AN AWARD THAT WORKFORCE SOLUTIONS RECEIVED FROM PROVIDING SERVICES TO EMPLOYERS.

UNFORTUNATELY, THAT FUNDING EXHAUSTED.

SO WHAT WE DECIDED TO DO IS PROPOSE TO RESTIVE, WHICH IS THE REAL SOUTH TEXAS EDUCATION AND COMMUNITY DEVELOPMENT FOUNDATION TO EXPAND THIS PARTICULAR INITIATIVE FOR ANOTHER YEAR.

AND, AND SO WHAT WE ARE PROPOSING IS INVESTMENT OF $50,000 TO FUND UP TO 23 INTERNSHIP PROGRAMS. THESE PARTICULAR STUDENTS ARE ALSO PART OF UTRGV,

[00:15:06]

HOPEFULLY THESE EMPLOYERS ARE ABLE TO RETAIN THEM AFTER THE WORK EXPERIENCE, THE INTERNSHIP PROGRAM FINISHED, AND WE LOOK FORWARD TO START THAT PARTICULAR PROGRAM NOW, THE GRANT THAT WE RECEIVED FROM RESTIVE REQUIRES A MATCHING COMPONENT A DOLLAR PER DOLLAR MATCH.

SO WE RECEIVED $25,000 FROM RESTIVE.

AND WE ARE REQUESTING AN ADDITIONAL 20,000 FROM EDINBURGH EDC.

AND OUR PARTNER RGB FOCUS IS ALSO CONTRIBUTING TO THE THIS PARTICULAR FUNDING WITH ANOTHER $5,000. SO WE ARE VERY EXCITED TO, TO BE ABLE HOPEFULLY TO CONTINUE THIS INITIATIVE TO SERVE THESE INDIVIDUALS, SPECIFICALLY THOSE 23 STUDENTS THAT IN PARTNERSHIP WITH UTRGV HOPEFULLY ARE ABLE TO ACCESS THESE PAID WORK EXPERIENCE.

SO JUST TO BE CLEAR, SO UTRGV WOULD SIMPLY ADVERTISE IT FOR THE STUDENTS, AND THE STUDENTS WOULD BE THEN CONNECTED WITH INDUSTRY AND THE MONIES WOULD BE USED TO PAY THE STUDENTS. RIGHT? CORRECT.

YES. WE WILL BE PAYING THEM THROUGH A STIPEND.

I WOULD LIKE TO MENTION THAT UTRGV TEAM AND STAFF, THEY'VE BEEN GREAT WITH US.

THEY HAVE AN AMAZING INTERNSHIP FRAMEWORK, THAT WE RELIED ON, AND THAT WAS ONE OF THE REASONS OF WHY WORKFORCE SOLUTIONS DECIDED TO PARTNER UP WITH THEM. THEY HAVE THE SYSTEMS IN PLACE AND THE PROGRAM DESIGNS TO HELP CONNECT THESE STUDENTS WITH EMPLOYERS.

AND SO IN PARTNERSHIP WITH WORKFORCE SOLUTIONS, WE ALSO HELP BRING EMPLOYERS THAT ARE LOOKING FOR PARTICULAR INTERNSHIPS.

WE WORK WITH VARIOUS INDUSTRIES, ALL OF THEM.

AND SO THIS WAS A GREAT OPPORTUNITY FOR FOR A LOT OF STUDENTS LAST YEAR WITH UTRGV.

AND SO WE HOPE TO REPEAT THAT SUCCESS THIS YEAR.

AND JUST SO, TO BE CLEAR, ALSO BECAUSE I WORK AT UTRGV, SO I WANT TO JUST GET THIS FOR THE RECORD, THERE IS NO MONIES THAT ARE GOING TO UTRGV FOR THIS PROGRAM. THE MONIES ARE GOING DIRECTLY TO STUDENTS FOR THEIR WORK.

IS THAT CORRECT? MOST OF THE MONEY, YES, THERE IS A COMPONENT, 5% OF ADMINISTRATIVE COSTS THAT IS GOING TO UTRGV AND WORKFORCE SOLUTIONS.

OKAY. SO AND WORKFORCE SOLUTIONS, 5% OF THE MONIES THAT THE EDC WOULD CONTRIBUTE. OR IT WAS THAT THAT IS COMING FROM THE REST OF FOUNDATION.

OKAY. SO THAT'S NOT COMING FROM FROM THE EDC.

OKAY. ALL RIGHT. GOOD.

AND COULD WE TAILOR THIS TO ASSURE THAT THE STUDENTS ARE EITHER GOING TO BE WORKING IN EDINBURG OR WOULD BE A RESIDENCE OF EDINBURG? ABSOLUTELY. YES. THAT IS SOMETHING THAT WE CAN CUSTOMIZE AND REDEFINING IN, IN MOUS OR AGREEMENTS THAT WE CAN ESTABLISH.

SHOULD THIS PROPOSAL GETS APPROVED BY THE BOARD? YES. DID WE CONTRIBUTE LAST YEAR FOR THAT TO THIS? NOT NOT NOT EVEN FUNDING, BUT PARTICIPATION.

WE PARTICIPATED IN CLARENCE CRUZ WAS WORKING FOR US AS ONE OF THE INTERNS, BUT WE DID NOT PARTICIPATE IN THE FUNDING FOR THAT PROGRAM.

OKAY. AND HOW MUCH WOULD THE STUDENTS BE PAID? THEY ARE GETTING PAID $12 AN HOUR FOR UP TO 160 HOURS.

NO MORE THAN 19 HOURS PER WEEK, IF I'M NOT MISTAKEN.

YES. AND SO WE THE $12 PER HOUR THAT IS ON AVERAGE A RECOMMENDATION MADE BY WORKFORCE SOLUTIONS AND UGB. NOW WE UNDERSTAND THAT, FOR EXAMPLE, IN SOME INSTANCES WHERE WE HAVE ENGINEERS DOING THESE PARTICULAR INTERNSHIPS THE THE WAGE WAS PROBABLY A LITTLE LOWER THAN EXPECTED.

THIS WAS BROUGHT UP BY THE EMPLOYERS.

AND SO WE WERE ABLE TO TALK TO THEM AND GET INTO AN ADDITIONAL PARTNERSHIP WHERE THEY WERE SUPPLEMENTING ADDITIONAL WAGES FOR THESE ENGINEERING STUDENTS.

OKAY. SO THAT WOULD COME FROM THE EMPLOYERS, CORRECT? YES. AND THANK YOU TO RGV LEAD FOR RGV.

FOCUS. I'M SORRY THERE'S SO MANY RGV, RGV, FOCUS AND MILLIE, I KNOW YOU'VE BEEN VERY PASSIONATE ABOUT INTERNSHIPS AND STEM EDUCATION EVERYTHING FOR MANY MANY YEARS. SO THANK YOU FOR CONTRIBUTING AS WELL TO THIS PROJECT.

I THINK ONE OF THE THINGS WE'VE ALWAYS SAID IS THAT WE'VE GOT THE TALENT, BUT WE'VE GOT TO KEEP THEM IN THE RIO GRANDE VALLEY.

AND SO HOPEFULLY WITH THESE INTERNSHIP PROGRAMS, IT'S A PIPELINE WHERE THEY'RE ABLE TO TO GET IN, GET THE EXPERIENCE AND THEN HOPEFULLY STAY IN THE JOB.

[00:20:01]

SENIORS. OKAY. ANY OTHER QUESTIONS? YEAH. SO I WAS READING OVER IT.

SO $12 AN HOUR AND I WAS TRYING TO FIND THE EXACT SO IT'S, IT'S ONCE THEY GRADUATE DURING THEIR SCHOOL YEAR WHILE THEY'RE GOING TO SCHOOL OR WHEN DOES. WHEN WHEN DO THEY BECOME? THEY HAVE TO BE ACTIVE STUDENTS OF UTRGV.

THAT'S THE I GUESS, THE REQUIREMENTS FROM UTRGV.

HOWEVER I THINK WE MADE THE EXCEPTION FOR SOME OF THOSE INDIVIDUALS THAT HAD JUST GRADUATED BECAUSE THEY'RE NOT CONSIDERED NECESSARILY ACTIVE STUDENTS ANYMORE, BUT THEY HAD JUST BEEN PROBABLY A COUPLE OF MONTHS OUT OF FINISHING THEIR DEGREE.

AND WE WERE ABLE TO TO ENROLL THEM IN THE, IN THE PROGRAM LAST YEAR.

AND IS THERE DO YOU HAVE ANY DATA ON, ON HOW MANY ACTUALLY RETAINED THE JOB WHERE THEY WERE INTERNING OR CONTINUED IN THAT LINE OF WORK FROM THE RETENTION? I DON'T HAVE THAT NUMBER, BUT WE CAN GET THAT FOR YOU.

I WANT TO SAY IT WAS AT LEAST 3 TO 5 OF THEM.

SOME OF THESE EMPLOYERS ACTUALLY MADE THE FULL TIME OFFER TO THE STUDENTS, AND THEY WERE ABLE TO RETAIN THEM.

OUT OF HOW MANY? OUT OF 30 LAST YEAR.

AND THIS CONTRIBUTION WOULD HELP.

HOW MANY STUDENTS? THIS ONE.

IT'S DESIGNED TO SERVE UP TO 23 STUDENTS, SIR.

AND IT'S IN A LOT OF DIFFERENT FIELDS.

RIGHT? IT'S NOT JUST ENGINEERING, IT'S AGRICULTURE, NATURAL RESOURCES, FINANCE, MARKETING, ETC..

CORRECT? YES. IT'S PRETTY MUCH ALL INDUSTRIES AGRICULTURE, FOOD AND NATURAL RESOURCES, BUSINESS AND FINANCE AND MARKETING, EDUCATIONAL AND TRAINING, HEALTH AND SCIENCE AND INFORMATION TECHNOLOGY, MANUFACTURING.

SO LAST YEAR WE WERE ABLE TO ENROLL INDIVIDUALS IN CIVIL ENGINEERING, MARKETING, BUSINESS ADMINISTRATION, BUSINESS MANAGEMENT AND BIOMEDICAL SCIENCE, COMMUNICATIONS, FINANCE, MARKETING AND MECHANICAL ENGINEERS, ELECTRICAL ENGINEERS, AND SOME AS WELL IN IN MEDIA AND LIBERAL ARTS AS WELL. WAS THERE ANY INFORMATION THAT WAS RECEIVED REGARDING WHY THERE ISN'T A LITTLE BIT HIGHER RETAINAGE ON THE ON THE STUDENT? I'M SORRY SIR. WHAT IS THE LEADING CAUSE? YOU SAID BETWEEN THREE TO BETWEEN 3 TO 5 OR BETWEEN 3 TO 4? 30. THE ONES THAT WERE EMPLOYED FULL TIME.

RIGHT. THAT DEPENDS ON THE EMPLOYER.

SO THE PROGRAM, THE POSITION.

CORRECT. AFTER THE COMPLETION OF THE INTERNSHIP PROGRAM, THE EMPLOYER IF THEY IF THEY SEE FIT FOR, FOR THEIR BUSINESS NEEDS THEY, THEY MAKE THE FULL TIME OFFER TO THE STUDENTS.

YES. AND WHEN YOU SCREEN THE EMPLOYERS, ARE YOU LOOKING FOR PEOPLE THAT ARE LOOKING TO RETAIN THEM BEYOND JUST GETTING THE ASSISTANCE FOR A SHORT WHILE? WE TRY TO TAKE THAT INTO CONSIDERATION, AND I KNOW, NO. JACK COFFEL FROM UTRGV.

HE'S BEEN GREAT AT THAT AS WELL.

WHEN WE ARE PROPOSING THE INITIATIVE TO EMPLOYERS, WE MAKE MENTION OF THAT THAT WE WOULD LIKE FOR THEM TO RETAIN THESE INDIVIDUALS IF POSSIBLE. IT IS NOT A REQUIREMENT.

BUT WE DO STRESS THAT OPPORTUNITY FOR THEM.

AND WE TRY TO ALSO PRIORITIZE THOSE THAT WE SEE YOU KNOW, HIGHER POTENTIAL FOR FULL TIME HIRE AS WELL.

SO CAN I SUGGEST ONE KPI TO TRACK HOW MANY? IF YOU COULD TRACK THE KPI OF HOW MANY STUDENTS RETAIN FULL TIME POSITIONS WHERE THEY ARE PLACED, BUT OUTSIDE OF THAT, ALSO, HOW MANY RETAIN FULL TIME POSITIONS WITHIN THE RIO GRANDE VALLEY? THAT MIGHT BE A GOOD METRICS THAT YOU CAN THAT YOU CAN SHARE OUT.

YES, DEFINITELY. WE CAN WE CAN LOOK INTO THAT.

I KNOW WE HAVE SOME OF THOSE NUMBERS.

I JUST DIDN'T BRING THEM WITH ME TODAY.

BUT WE CAN WE CAN LOOK FOR THEM AND GET THEM TO TO YOU THROUGH.

MR.. GARCIA WILL PROVIDE THOSE TO TO HIS TEAM.

THANK YOU. THANK YOU. ANY OTHER QUESTIONS? I'M JUST CURIOUS. THE COMPANIES THAT ARE NOT RETAINING THESE, THESE INDIVIDUALS, ARE THEY GIVING ANY REASONS AS TO WHY? I MEAN, ARE THEY JUST NOT GOOD FITS OR.

I MEAN, DO WE HAVE ANY TYPE OF FEEDBACK AS TO WHY? I'M JUST A LITTLE CONCERNED THAT THE RETENTION IS VERY, VERY LOW. AND THAT'S I MEAN, I'D LIKE TO SEE IT A LOT HIGHER.

I MEAN, OBVIOUSLY, YOU KNOW, I'M JUST CURIOUS WHAT REASON ARE THEY GIVING THAT THEY'RE NOT KEEPING THEM AROUND?

[00:25:02]

SO FAR WHAT WE HAVE HEARD IS IT WAS A GREAT EXPERIENCE FOR THEM.

THE EMPLOYERS WERE VERY HAPPY WITH THE CANDIDATES.

HOWEVER, THE EMPLOYER IS NOT OBLIGATED TO RETAIN THEM OR THE STUDENTS.

SOMETIMES THEY ARE LOOKING FOR DIFFERENT OPPORTUNITIES.

THEY ARE JUST LOOKING FOR THE EXPERIENCE AT THAT POINT IN TIME SO THAT THEY'RE ABLE TO ADD THAT TO THEIR CURRICULUM FOR OTHER OPPORTUNITIES THAT MAY COME TO THEM.

AND THE OTHER QUESTION I HAD IS, AT WHAT POINT IN THEIR CAREER DO THEY QUALIFY FOR THIS INTERNSHIP? LIKE IN NURSING, ONCE YOU'RE COMPLETELY DONE WITH THE PROGRAM, YOU DO THE INTERNSHIP AT A FACILITY AND MOST OF THEM GET HIRED.

OBVIOUSLY, NURSING IS A DIFFERENT DEMAND, RIGHT? BUT BECAUSE THEY'RE ABOUT TO TAKE THEIR BOARDS, THEY'RE AT THE END OF THEIR STUDIES. AT WHAT POINT IN THE ACADEMIC PROCESS ARE THESE INTERNSHIPS ALIGNED? I BELIEVE THAT IS CLOSE TO THAT PROBABLY IN THE LAST YEAR OF THEIR STUDIES.

WHEN IT IS POSSIBLE TO BRING THEM IN AS INTERNS.

IT DEPENDS ALSO ON THE EMPLOYER AND THEIR INTERNAL PROCEDURES AND REGULATIONS BECAUSE THEY AND IN SOME OF THOSE OCCUPATIONS, THEY DO HAVE SOME LIABILITY AND THEY HAVE TO TAKE INTO CONSIDERATION INSURANCES AND A LOT OF OTHER ELEMENTS THAT, YOU KNOW, WHEN BRINGING IN STUDENTS THAT ARE NOT CERTIFIED YET, BUT YET THEY WANT TO PROVIDE THE EXPERIENCE TO THEM.

SO WE ARE ABLE TO WORK WITH THEM AS THEY ARE GETTING CLOSER TO THEIR FINAL STUDIES, PROBABLY WITHIN THE LAST YEAR.

IT SOUNDS LIKE A GREAT PROGRAM AND LIKE EVERYONE AGREES, WE WANT TO KEEP ALL OUR TALENT, RIGHT? NO SEVERAL TERMS BRAIN DRAIN FLIGHT OF OF ALL THE PEOPLE THAT YOU WANT TO STAY.

BUT I THINK I JUST WANT SOME MORE INFORMATION.

SOUNDS LIKE A GREAT, GREAT PROCESS FOR FOR INTERNSHIP.

I THINK I JUST WANT A LITTLE MORE INFORMATION TO MAKE SURE THAT, FOR ONE, WE WE TRY AND AND SERVICE THE RESIDENTS OF EDINBURG.

AND KEEP MY FINGERS CROSSED.

YOU KNOW, THEY IT'S BUSINESS AS IN EDINBURG THAT RETAIN THEM.

BUT IF YOU COULD JUST COME BACK WITH THAT INFORMATION? YEAH, ABSOLUTELY.

DEFINITELY. YEAH. AND I THINK THAT'S WHY THE SCREENING PROCESS WILL BE REALLY IMPORTANT TOO, BECAUSE YOU WANT EMPLOYERS THAT ARE REALLY LOOKING TO HIRE FULL TIME AND NOT JUST HAVE HELP ON A VERY TEMPORARY BASIS.

RIGHT. AND SOMETIMES IT REALLY DOES HELP WHEN THE EMPLOYER HAS SKIN IN THE GAME BECAUSE THEN THEY'VE, YOU KNOW, THEY'VE PUT SOMETHING INTO IT. AND NOW THEY WANT TO MAKE SURE THAT THEY GET THAT BACK FROM THE FROM THE FUTURE EMPLOYEE.

OKAY. ANYTHING TO ADD RANDALL? NO. THE ONLY THING THAT WAS WE HAD ALREADY TALKED ABOUT SOME RESTRICTIONS, VERY SIMILAR TO WHAT OTHER PROGRAMS WE'VE TALKED ABOUT IN THE PAST, WHERE WE WANTED TO MAKE SURE THAT THEY WERE EITHER WORKING IN EDINBURGH OR LIVING IN EDINBURGH, BECAUSE THAT WOULD BE THE MOST BENEFICIAL FOR US.

AND OF COURSE, THEY HAVE TO BE AT LEAST 18 YEARS OLD BECAUSE NOW WITH DUAL CREDIT AND EVERYTHING, WE'VE GOT SENIORS THAT ARE STILL BABIES.

BUT YEAH, THOSE WERE REALLY THE THREE MAIN POINTS FOR US.

BEYOND THAT, WE'D HAVE TO HAVE SOME KIND OF FUNDING AGREEMENT THAT CAN BE DRAFTED OUT.

YEAH. AND FOR ME, IT JUST KIND OF LIKE FOLLOWING THE NURSING MODEL.

YOU KNOW, IT'S YOUR DEGREE.

IT'S WHAT YOU'RE GOING TO DO. NOT SOMETHING EARLY. YOU KNOW, ONE YEAR, TWO YEARS IN WHERE YOU MIGHT GO INTERN AND CHANGE YOUR WHOLE PERCEPTION OF WHAT YOU WANT TO DO FOR A LIVING. AND, AND THEN THIS, THIS MONEY DIDN'T REALLY RETAIN YOU OR KEEP YOU IN THAT INDUSTRY.

YEAH. AND THIS IS SIMILAR TO A PREVIOUS PROGRAM YOU WERE WALKING IN AFTER.

THEY HAD ALREADY TALKED ABOUT THAT. BUT WHAT THEY SAID WAS THAT MOST OF THE STUDENTS WHO ARE PARTICIPATING IN THESE TYPES OF PROGRAMS ARE SENIORS.

OKAY, GREAT. GREAT. THANK YOU.

THANK YOU. THANK YOU. YEAH.

IF YOU COULD JUST PROVIDE US WITH SOME INFORMATION ON ON THOSE THAT DID NOT GET HIRED, WHAT WERE THE REASONS? WAS IT THE EMPLOYER, WAS IT THE STUDENT CHOOSING NOT TO DID THEY EXTEND OFFERS? THAT KIND OF INFORMATION WOULD BE VERY HELPFUL TO US.

YES. AND I DID HAVE ONE QUESTION FOR YOU ALL.

SO OF THE FUNDING THAT YOU ARE SEEKING IN RGV, FOCUS HAS ALREADY COMMITTED 5000.

AND IT STATED ON HERE THAT YOU'RE SEEKING FUNDS FROM INDUSTRY PARTNERS.

SO ARE THERE ANY OTHER INDUSTRY PARTNERS THAT YOU ALL HAVE DISCUSSED THIS WITH? NOT AT THIS POINT, SIR.

IT'S RIGHT NOW WE'RE ONLY CONSIDERING EDINBURG EDC AND RGV FOLKS.

I DON'T KNOW IF YOU'RE FAMILIAR WITH RGV FOCUS, BUT LET ME JUST, YOU KNOW, THIS IS HIS SHOW, RIGHT? I'M JUST SUPPORTING MY NAME.

MY NAME IS EMILY HERNANDEZ. I'M DEPUTY DIRECTOR FOR RGV FOCUS AND I AM A COLLECTIVE IMPACT INITIATIVE FOR EDUCATE TEXAS IN FROM DALLAS.

AND BASICALLY OUR ROLE HERE IN THE VALLEY IS BASICALLY TO HELP THE VALLEY INCREASE CREDENTIALS INDUSTRY BASED CERTIFICATIONS AND IMPROVE WORKFORCE DEVELOPMENT AND IMPROVE

[00:30:01]

AND SO THAT IS BASICALLY WHAT RGV FOCUS IS AND WHY WE'RE, VERY INTERESTED IN PARTICIPATING AND ASSISTING.

SO I JUST WANT TO SHARE THAT WITH YOU ALL.

SO IN CASE YOU HAVE ANY QUESTIONS ON THAT.

THANK YOU. THANK YOU. THANK YOU.

ALL RIGHT. WELL THANK YOU. IF YOU'LL JUST BRING THAT INFORMATION BACK TO MR. GARZA, THEN WE CAN TAKE IT UP AT THE NEXT MEETING.

YES, ABSOLUTELY. THANK YOU SO MUCH.

OKAY LET'S GO BACK TO ITEM B, WHICH IS THE THE PRESENTATION OF YEAR TO DATE FINANCIAL REPORT ENDING ON MARCH 31ST, 2024.

[B. Presentation of year-to-date Financial Report ending on March 31, 2024.]

I'M SO SORRY. SABRINA. YES.

OKAY. I SAW YOU COMING IN.

I KNOW EVERYBODY SAW YOU, AND I DIDN'T ANNOUNCE IT.

THANK YOU SO MUCH. 546.

THANK YOU, SABRINA HERNANDEZ.

ITEM B, THEN. WELL, THE GOOD THING IS, I DON'T KNOW IF YOU HEARD IT.

WE'VE GOT OVER A THOUSAND DAYS IN RESERVES BASED ON THE ORDER, SO THAT'S A GOOD THING. AS WE GO INTO THE PRESENTATION OF THE FINANCIAL REPORT AND AGAIN, TO THEIR CREDIT, AS OF WHAT DATE THAT WAS AS OF SEPTEMBER 30TH, 2023. LOOKING AT YOUR FINANCIALS FOR THE MOST CURRENT FINANCIALS, WHICH IS MARCH 31ST, 2024 AT THE BALANCE SHEET, WHICH IS THE FIRST PAGE IN THAT IN THAT PACKET IF YOU LOOK AT THE UNRESTRICTED FUND BALANCE, YOU HAVE 11,000,837 554.

SO THERE IS A DIFFERENCE BECAUSE WE HAVE SPENT A LITTLE BIT OF MONEY THIS YEAR.

SO YEAH. AND, AND THERE'S SOME OTHER COMMITMENTS THAT WE HAVE IN THE NEAR FUTURE WHICH ARE GOING TO CONTINUE TO WHITTLE THAT DOWN A LITTLE BIT.

BUT WE CAN TALK ABOUT THAT LATER ON.

RIGHT NOW, WHAT I'D LIKE TO SAY IS THAT WE HAVE IN TOTAL ASSETS, $35.6 MILLION. OF THAT, THE CASH AND CASH EQUIVALENTS AND AND INVESTMENTS ARE ABOUT NINE POINT ALMOST $9.8 MILLION.

OUR LIABILITIES FOR THIS FISCAL YEAR ARE SO FAR IS 505,008 5829.

AND WE HAVE CAPITAL PROJECTS.

RESTRICTED BALANCE OF 6.6 MILLION.

DEBT SERVICE SET ASIDE FOR 2.2 MILLION, OTHER RECEIVABLES OF 9.6.

AND WE HAVE SOME MONEY SET ASIDE FOR PROPERTY ACQUISITIONS OF 4.7.

AND OF COURSE, THAT UNRESTRICTED FUND BALANCE THAT WE TALKED ABOUT WHICH WAS QUITE A BIT OF DIFFERENCE BETWEEN SIX MONTHS AGO AND NOW ON THE NEXT PAGE, YOU HAVE OUR MONTHLY BUDGET ACTIVITY REPORT.

AS YOU CAN TELL THIS IS A SIX MONTH.

SO IF YOU LOOK AT THE PERCENTAGE, WHICH IS THE THIRD COLUMN ON THE REVENUE AND EXPENDITURES, 50% IS WHERE WE SHOULD BE SINCE WE'RE HALFWAY THROUGH THE YEAR.

THOSE THAT ARE WAY BELOW IN TERMS OF THE REVENUE SIDE MEANS WE HAVEN'T GOTTEN TO THE POINT THAT WE WANT TO BE SO ON GENERAL SALES AND USE TAX, FOR EXAMPLE, WE'RE AT ALMOST $3.9 MILLION YEAR TO DATE.

THAT'S 40% OF OUR GOAL.

SO WE'RE A LITTLE BIT BELOW OUR PROJECTED BUDGET.

HOWEVER THAT COULD CHANGE.

IT JUST DEPENDS ON HOW THE, THE, THE, THE SPENDING GOES IN TERMS OF THE, THE CITIZENS HERE INTEREST EARNED.

WE'RE WAY ABOVE IN MOST OF THOSE NUMBERS.

WE'RE DOING VERY WELL IN OUR INTEREST EARNINGS BECAUSE OF THE FUNDING THAT WE STILL HAVE FROM SOME OF THOSE CAPITAL PROJECTS THAT HAVE NOT BEEN SPENT.

WE HAVEN'T SOLD ANY PROPERTY THIS FISCAL YEAR, BUT WE HAVE SEVERAL PROPERTIES THAT ARE UNDER CONTRACT AND SEVERAL THAT ARE GETTING CLOSE TO TO CLOSING. SO WE'LL BE SEEING SOME NUMBERS IN THERE IN THE NEXT FEW MONTHS.

ON ADMINISTRATIVE SERVICES.

WE'RE WELL BELOW OUR BUDGET SO FAR.

WE ALSO ARE WELL BELOW OUR BUDGET AND PROGRAM SPENDING AND AND PROPERTIES AS WELL.

THERE IS IS $190,000 ON PROPERTY MAINTENANCE, THAT SOME OF THAT PROBABLY HAS TO BE CAPITALIZED BECAUSE WE SPENT MOST OF THAT MONEY IS FOR RELOCATION OF AN IRRIGATION LINE AT OUR NORTH INDUSTRIAL PARK.

WE TALKED ABOUT THAT ONE.

THAT RELOCATION IS ONE OF THE REASONS WHY WE'RE GETTING ONE OF THE CLOSINGS, WHICH SHOULD HAPPEN. CARLOS.

NEXT WEEK, MAYBE. SO WE'VE GOT A PROPERTY THAT'S CLOSING PROBABLY BY NEXT WEEK BECAUSE OF THIS RELOCATION OF THAT IRRIGATION LINE.

WE ALSO HAVE THE CITY CONTRIBUTION OF 7.257.

THAT WAS FOR PROJECT THAT WE HAVE DISCUSSED IN THE PAST.

AND THEN THERE'S SOME OTHER PROJECTS THAT ARE COMING UP THAT WE'RE GOING TO CONTINUE TO TO FUND ON THAT LINE ITEM AS WELL.

ON OUR DEBT SERVICE, WE'RE BASICALLY WHERE WE NEED TO BE.

WE HAVE PAYMENTS IN FEBRUARY AND WE HAVE PAYMENTS IN AUGUST.

SO RIGHT NOW THE MAJORITY OF THE PAYMENTS PRINCIPAL AND INTEREST ARE IN FEBRUARY,

[00:35:05]

THE AUGUST PAYMENT IS TYPICALLY JUST INTEREST ONLY.

AND SO WE'RE RIGHT ON BUDGET WITH THAT.

IN TERMS OF THE TIMING IN TERMS OF THE BOND PROJECTS, THE WORKFORCE RESOURCE CENTER, WE HAVEN'T SPENT THAT MONEY YET, AND WE STILL HAVE SOME LITTLE ITEMS THAT WE NEED TO FINALIZE BEFORE WE CLOSE THAT ONE OUT. ACE AND THE MUNICIPAL WATER PARK.

WE HAVE ALREADY BEEN INVOICED.

THOSE NUMBERS AS OF MARCH, IT HADN'T BEEN PAID, BUT IT HAS BEEN PAID IN APRIL.

SO NEXT MONTH'S FINANCIALS WILL LOOK A LITTLE BIT DIFFERENT.

AND THAT'S REALLY ABOUT IT FOR MY REPORT.

DOES ANYBODY HAS ANY QUESTIONS? AND NEXT MONTH I'LL ALSO BRING UP SOME BUDGET AMENDMENTS THAT WE HAVE TO HAVE.

ALL RIGHT. SO DO YOU WANT US.

DO WE NEED TO APPROVE THAT OR OR JUST JUST A PRESENTATION? IT'S JUST A PRESENTATION. OKAY.

IT'S UNAUDITED AND STILL SUBJECT TO SOME FINAL JOURNAL ENTRIES.

ON THE NEXT ITEM, WHICH IS OUR INVESTMENT REPORT, SOMETHING THAT WE HADN'T DONE.

BUT WE ARE DOING THIS IS SOMETHING THAT ASCENSION ALONSO AND MYSELF PUT TOGETHER.

[C. Presentation of Quarterly Investment Report ending on December 31, 2023]

THE DETAILS ON THAT IS IN THE PACKET, BUT REALLY THE MONEY'S IN TEXSTAR, AND IT'S GOING TO BE TRANSFERRED AND HAS BEEN TRANSFERRED INTO TEXAS POOL.

BUT THEY'RE BOTH PUBLIC INVESTMENT FUNDS THAT THE CITY AND EDC PUT THEIR MONEY IN, AND THE RATE OF RETURN ON THAT HAS BEEN FAIRLY STEADY, RIGHT? YES. YEAH. AT ABOUT 5.62.

I THINK IT CHANGES ON A DAILY BASIS.

BUT FOR THE MOST PART IT IS AND I'M LOOKING AT THE PACKET YOU KNOW, IN JANUARY OF 2023, IT WAS AT ABOUT 4.2.

BY DECEMBER OF 2023, IT WAS 5.3.

RIGHT NOW WE'RE AT 5.62.

SO IT'S BEEN GOING UP SLIGHTLY EVERY MONTH.

TO AN AVERAGE OF ABOUT 5%.

YEAH. YES, SIR. YEAH. ALL RIGHT.

ANY QUESTIONS FOR MR. GARCIA ON EITHER THE QUARTERLY INVESTMENT REPORT OR THE FINANCIAL YEAR TO DATE FINANCIAL REPORT? IF NOT, THEN I THINK THE REMAINING ITEMS ARE FOR EXECUTIVE SESSION.

CAN I GET A MOTION TO ENTER INTO EXECUTIVE SESSION? SO MOVED. SECOND. ALL IN FAVOR, SAY AYE.

RAISE YOUR RIGHT HAND. OKAY.

WE ARE THEN GOING INTO EXECUTIVE SESSION AT 06:08 P.M..

[6. EXECUTIVE SESSION]

[00:44:02]

THAT MEANS THAT THE EDC COULD OPERATE FOR 1075 DAYS IF REVENUES WERE TO STOP BEING RECEIVED, FOR WHATEVER REASON.

WE USUALLY RECOMMEND OUR CLIENTS TO HAVE ANYWHERE BETWEEN 60 TO 90 DAYS.

SO IN THIS CASE, EDC HAS 1000.

SO THEY'RE IN EXTREMELY FAVORABLE POSITION AT THIS MOMENT.

THAT'S GOOD NEWS. YES.

OKAY. LET'S MOVE ON NOW TO THE NOTES TO THE FINANCIAL STATEMENTS.

THAT'S PAGE 16 TO 42. IN THIS SPECIFIC SECTION, YOU CAN FIND MORE DETAILED INFORMATION ABOUT THE FINANCIAL STATEMENTS.

FOR EXAMPLE, YOU WANT TO SEE WHAT WAS THE ACTIVITY FOR CAPITAL ASSETS.

THERE'S GOING TO BE A TABLE HERE DESCRIBING THE ADDITIONS AND DELETIONS AND ANY

[00:45:02]

YOU'LL BE ABLE TO FIND THAT THAT INFORMATION THERE.

YEAH. IT WAS VERY THOROUGH. IN FACT, I GUESS BECAUSE YOU ALL ARE ALSO THE AUDITORS FOR THE CITY. RIGHT. SO A LOT OF THIS INVOLVED, I GUESS YOUR THE BENEFITS AND ALL THE THINGS.

THE CITY. YES. WHEN IT COMES TO THE PENSION LIABILITY AND THE OPEB LIABILITY, YES. WE GET THAT INFORMATION FROM THE CITY.

OKAY. BECAUSE THEY'RE ALL TOGETHER IN THAT PENSION PLAN.

CORRECT. OKAY, LET'S MOVE ON TO PAGE 52.

52. YES. 52. THAT'S A REPORT ON INTERNAL CONTROLS OVER FINANCIAL REPORTING.

SO THIS YEAR, THERE WAS NO NEW FINDINGS.

THERE WAS ONLY THREE OUT OF THE FIVE PRIOR YEAR FINDINGS THAT STAYED.

TWO OF THOSE FINDINGS WERE CORRECTED. SO THAT'S WHY THEY'RE NOT CURRENT YEAR.

BUT OUT OF THOSE THREE THERE'S STILL APPLICABLE FOR THE FISCAL YEAR SEPTEMBER 30TH, 2023. BUT THEY DID SHOW IMPROVEMENT.

SO IF MANAGEMENT KEEPS TRACK OF THESE FINDINGS, THEY COULD MORE THAN LIKELY HAVE THEM RESOLVED NEXT YEAR.

FOR NEXT YEAR'S AUDIT AGAIN, IT WAS THREE OUT OF THE THREE FINDINGS FROM LAST YEAR THREE TWO WERE CORRECTED AND THREE ARE STILL APPLICABLE.

AND THE AND THE THREE THAT ARE STILL OUT THERE ARE BEING WORKED ON AT THIS TIME FROM WHAT I READ. OKAY. IF YOU LOOK ON PAGE 54, MANAGEMENT PROVIDES A RESPONSE FOR EACH RESPONSE FOR EACH OF THE FINDINGS.

AND YOU CAN SEE THERE HOW THEY'VE BEEN IMPROVING COMPARED TO LAST YEAR.

SO THIS CONCLUDES MY PRESENTATION.

IF THERE'S ANY QUESTIONS, WE'RE HERE TO ANSWER THEM AT THIS TIME.

DOES ANYONE HAVE ANY QUESTIONS FOR FRANK WITH ASSOCIATES? NO. OKAY. MR. GARZA, WAS THERE ANYTHING YOU WANTED TO ADD TO THAT? HI. HI, DAN. PLEASE LET THE RECORD SHOW THAT DAN DIAZ HAS JOINED US.

ANY COMMENT I WANTED TO MAKE? FRANK. I JUST WANTED TO MAKE A COMMENT THAT THIS WAS A LOT SMOOTHER THAN IN THE PREVIOUS YEAR. FINANCE DEPARTMENT IS GETTING REALLY SMOOTH AT DOING WHAT THEY NEED TO BE DOING IN TERMS OF REPORTING. AND WE'RE GETTING A LITTLE BIT MORE HELP ON OUR END ALSO.

SO LETTY WASN'T DOING EVERYTHING ALL BY HERSELF THIS TIME.

SO. YEAH. AND IT'LL KEEP IMPROVING AS AS WE GET MORE COMFORTABLE WITH EVERYTHING.

I KNOW THAT THERE HAD BEEN A PROBLEM BECAUSE THE CITY WAS TRANSITIONING WITH THE PREVIOUS PEOPLE, AND ALSO, I BELIEVE THIS IS AROUND THE TIME THAT YOU WERE TRYING TO COME IN AND AND SO THERE WAS SOME I'M EXTREMELY HAPPY TO HEAR THAT EVERYTHING'S GOING A LOT SMOOTHER.

AND I HAVE NO DOUBT THAT WHATEVER FINDINGS YOU FOUND WILL BE CORRECTED PRETTY SOON.

YES, THANK YOU FOR THAT.

AND I AND I'M ESPECIALLY HAPPY TO SEE THAT WE HAVE OVER A THOUSAND DAYS OF, OF MONEY FOR OPERATIONS.

IF THINGS WERE TO STOP TODAY THAT WE STILL COULD OPERATE.

THAT WAS AS OF SEPTEMBER 30TH.

YEAH, THAT'S REALLY HELPFUL.

NOT THAT THINGS ARE GOING TO STOP, BUT THAT'S REALLY HELPFUL TO KNOW WE HAVE MORE DAYS NOW. SIX MONTHS AGO.

SO WITH WITH THAT, CAN I GET A MOTION TO APPROVE THE AUDIT REPORT FOR FISCAL YEAR 2223? I'LL MAKE A MOTION TO APPROVE AS PRESENTED.

SECOND, ALL IN FAVOR, SAY AYE OR RAISE YOUR RIGHT HAND.

A MOTION TO APPROVE. THANK YOU SO MUCH, FRANK.

THANK YOU. WE'RE GOING TO GO AHEAD AND EXCUSE OURSELVES. THANK YOU. THANK YOU SIR. THANK YOU. OKAY. LET'S GO TO I KNOW WE STILL HAVE WE HAVE SOME OTHER GUESTS WITH US TODAY.

SO LET'S GO TO ITEM D, CONSIDER PRESENTATION AND REQUEST FOR MATCHING GRANT FOR AN INTERNSHIP PROGRAM BY WORKFORCE SOLUTIONS AND RGV FOCUS.

SO WITH US WE HAVE AMELIA HERNANDEZ AND DANIEL URIBE.

DANIEL IS WITH WORKFORCE SOLUTIONS AND MILLIE'S WITH RGV FOCUS.

SO THEY'RE GOING TO TALK A LITTLE BIT ABOUT A GRANT OPPORTUNITY FOR US AND OUR CITIZENS HERE IN EDINBURG. THANK YOU.

THANK YOU, THANK YOU, MR. GARZA.

GOOD EVENING EVERYBODY.

MY NAME IS DANIEL URIBE.

I'M THE BUSINESS RELATIONS AND INFORMATION MANAGER FOR WORKFORCE SOLUTIONS.

WE SERVE THE THREE COUNTY AREA STARTED WILLACY AND HIDALGO.

SO TODAY WE WOULD LIKE TO PROPOSE AN INITIATIVE TO THE BOARD.

THIS IS WHAT WE CALL THE LEAD INTERNSHIP INITIATIVE.

IT IS AN EXPANSION OF A PREVIOUS INITIATIVE THAT WE STARTED LAST YEAR.

COULD YOU GET A LITTLE CLOSER TO THE MIC SO WE CAN HEAR YOU BETTER? SO THIS IS AN EXPANSION OF THE INITIATIVE THAT WE PROVIDED THAT WE STARTED LAST YEAR.

[00:50:01]

WE WERE ABLE TO FUND A MEANINGFUL WORK EXPERIENCE, PAID WORK EXPERIENCE FOR ABOUT 30 INDIVIDUALS, AND THAT WAS FUNDED THROUGH A SPECIFIC FUNDING THAT RESULTED FROM AN AWARD THAT WORKFORCE SOLUTIONS RECEIVED FROM PROVIDING SERVICES TO EMPLOYERS.

UNFORTUNATELY, THAT FUNDING EXHAUSTED.

SO WHAT WE DECIDED TO DO IS PROPOSE TO RESTIVE, WHICH IS THE RIO SOUTH TEXAS EDUCATION AND COMMUNITY DEVELOPMENT FOUNDATION TO EXPAND THIS PARTICULAR INITIATIVE FOR ANOTHER YEAR.

AND, AND SO WHAT WE ARE PROPOSING IS INVESTMENT OF $50,000 TO FUND UP TO 23 INTERNSHIP PROGRAMS. THESE PARTICULAR STUDENTS ARE ALSO PART OF UTRGV.

AND THE IDEA IS TO HELP THEM AGAIN MAKE THE CONNECTION WITH EMPLOYERS.

HOPEFULLY THESE EMPLOYERS ARE ABLE TO RETAIN THEM AFTER THE WORK EXPERIENCE, THE INTERNSHIP PROGRAM FINISHED, AND WE LOOK FORWARD TO START THAT PARTICULAR PROGRAM NOW, THE GRANT THAT WE RECEIVED FROM RESTIVE REQUIRES A MATCHING COMPONENT.

A DOLLAR FOR DOLLAR MATCH.

SO WE RECEIVED $25,000 FROM STEVE, AND WE ARE REQUESTING AN ADDITIONAL 20,000 FROM EDINBURG EDC. AND OUR PARTNER RGV FOCUS IS ALSO CONTRIBUTING TO THE THIS PARTICULAR FUNDING WITH ANOTHER $5,000.

SO WE ARE VERY EXCITED TO, TO BE ABLE HOPEFULLY TO CONTINUE THIS INITIATIVE TO SERVE THESE INDIVIDUALS, SPECIFICALLY THOSE 23 STUDENTS THAT IN PARTNERSHIP WITH UTRGV HOPEFULLY ARE ABLE TO ACCESS THESE PAID WORK EXPERIENCE.

SO JUST TO BE CLEAR, SO UTRGV WOULD SIMPLY ADVERTISE IT FOR THE STUDENTS, AND THE STUDENTS WOULD BE THEN CONNECTED WITH INDUSTRY.

THE MONIES WOULD BE USED TO PAY THE STUDENTS, RIGHT? CORRECT. YES. WE WILL BE PAYING THEM THROUGH A STIPEND.

I WOULD LIKE TO MENTION THAT UTRGV TEAM AND STAFF, THEY'VE THEY BEEN GREAT WITH US? THEY HAVE AN AMAZING INTERNSHIP FRAMEWORK THAT WE RELIED ON.

AND THAT WAS ONE OF THE REASONS OF WHY WORKFORCE SOLUTIONS DECIDED TO PARTNER UP WITH THEM. THEY HAVE THE SYSTEMS IN PLACE AND THE PROGRAM DESIGNS TO HELP CONNECT THESE STUDENTS WITH EMPLOYERS.

AND SO IN PARTNERSHIP WITH WORKFORCE SOLUTIONS, WE ALSO HELP BRING EMPLOYERS THAT ARE LOOKING FOR PARTICULAR INTERNSHIPS.

WE WORK WITH VARIOUS INDUSTRIES, ALL OF THEM.

AND SO THIS WAS A GREAT OPPORTUNITY FOR, FOR A LOT OF STUDENTS LAST YEAR WITH UTRGV.

AND SO WE HOPE TO REPEAT THAT SUCCESS THIS YEAR.

AND JUST SO, TO BE CLEAR, ALSO BECAUSE I WORK AT UTRGV, SO I WANT TO JUST GET THIS FOR THE RECORD, THERE IS NO MONIES THAT ARE GOING TO UTRGV FOR THIS PROGRAM. THE MONIES ARE GOING DIRECTLY TO STUDENTS FOR THEIR WORK.

IS THAT CORRECT? MOST OF THE MONEY, YES, THERE IS A COMPONENT 5% OF ADMINISTRATIVE COSTS. THAT IS GOING TO UTRGV AND WORKFORCE SOLUTIONS.

OKAY. SO AND WORKFORCE SOLUTIONS, 5% OF THE MONIES THAT THE EDC WOULD CONTRIBUTE OR WAS THAT WOULD THAT IS COMING FROM THE REST OF FOUNDATION.

OKAY. SO THAT'S NOT COMING FROM FROM THE EDC.

OKAY. ALL RIGHT. GOOD.

AND COULD WE TAILOR THIS TO ASSURE THAT THE STUDENTS ARE EITHER GOING TO BE WORKING IN EDINBURG OR WOULD BE A RESIDENT OF EDINBURG? ABSOLUTELY. YES. THAT IS SOMETHING THAT WE CAN CUSTOMIZE AND REDEFINE IN, IN MOUS OR AGREEMENTS THAT WE CAN ESTABLISH.

SHOULD THESE PROPOSAL GETS APPROVED BY THE BOARD? YES. DID WE CONTRIBUTE LAST YEAR FOR THAT TO THIS? NOT NOT NOT EVEN FUNDING, BUT PARTICIPATION.

WE PARTICIPATED IN CLARENCE CRUZ WAS WORKING FOR US AS ONE OF THE INTERNS, BUT WE DID NOT PARTICIPATE IN THE FUNDING FOR THAT PROGRAM.

OKAY. AND HOW MUCH WOULD THE STUDENTS BE PAID? THEY ARE GETTING PAID $12 AN HOUR FOR UP TO 160 HOURS.

NO MORE THAN 19 HOURS PER WEEK, IF I'M NOT MISTAKEN.

YES. AND SO WE THE $12 PER HOUR THAT IS ON AVERAGE A RECOMMENDATION MADE BY WORKFORCE SOLUTIONS AND UTRGV. NOW WE UNDERSTAND THAT, FOR EXAMPLE,

[00:55:02]

THIS WAS BROUGHT UP BY THE EMPLOYERS.

AND SO WE WERE ABLE TO TALK TO THEM AND GET INTO AN ADDITIONAL PARTNERSHIP WHERE THEY WERE SUPPLEMENTING ADDITIONAL WAGES FOR THESE ENGINEERING STUDENTS.

SO OKAY. SO THAT WOULD COME FROM THE EMPLOYERS CORRECT? YES. AND THANK YOU TO RGV LEAD FOR RGV.

FOCUS. SORRY THERE'S SO MANY RGV, RGV, FOCUS AND MILLIE, I KNOW YOU'VE BEEN VERY PASSIONATE ABOUT INTERNSHIPS AND STEM EDUCATION FOR MANY, MANY YEARS. SO THANK YOU FOR CONTRIBUTING AS WELL TO THIS PROJECT.

I THINK ONE OF THE THINGS WE'VE ALWAYS SAID IS THAT WE'VE GOT THE TALENT, BUT WE GOT TO KEEP THEM IN THE RIO GRANDE VALLEY.

AND SO HOPEFULLY WITH THESE INTERNSHIP PROGRAMS, IT'S A PIPELINE WHERE THEY'RE ABLE TO TO GET IN, GET THE EXPERIENCE AND THEN HOPEFULLY STAY IN THE JOB.

THAT IS CORRECT. ARE THESE FOR JUNIOR SENIOR STUDENTS OR ARE THEY JUST ARE THEY ALL YEARS PRIMARILY SENIORS? YES.

SENIORS. OKAY. ANY OTHER QUESTIONS? YEAH. SO I WAS READING OVER IT.

SO $12 AN HOUR AND I WAS TRYING TO FIND THE EXACT SO IT'S IT'S ONCE THEY GRADUATE DURING THEIR SCHOOL YEAR, THEY'RE WHILE THEY'RE GOING TO SCHOOL OR WHEN DOES WHEN WHEN DO THEY BECOME. THEY HAVE TO BE ACTIVE STUDENTS OF UTRGV.

THAT'S THE, I GUESS, THE REQUIREMENTS FROM UTRGV.

HOWEVER I THINK WE MADE THE EXCEPTION FOR SOME OF THOSE INDIVIDUALS THAT HAD JUST GRADUATED BECAUSE THEY'RE NOT CONSIDERED NECESSARILY ACTIVE STUDENTS ANYMORE, BUT THEY HAD JUST BEEN PROBABLY A COUPLE OF MONTHS OUT OF FINISHING THEIR DEGREE.

AND WE WERE ABLE TO TO ENROLL THEM IN THE IN THE PROGRAM LAST YEAR.

AND IS THERE DO YOU HAVE ANY DATA ON, ON HOW MANY ACTUALLY RETAINED THE JOB WHERE THEY WERE INTERNING OR CONTINUED IN THAT LINE OF WORK FROM THE RETENTION? I DON'T HAVE THAT NUMBER, BUT WE CAN GET THAT FOR YOU.

I WANT TO SAY IT WAS AT LEAST 3 TO 5 OF THEM.

SOME OF THESE EMPLOYERS ACTUALLY MADE THE FULL TIME OFFER TO THE STUDENTS, AND THEY WERE ABLE TO RETAIN THEM.

OUT OF HOW MANY? OUT OF 30 LAST YEAR.

AND THIS CONTRIBUTION WOULD HELP.

HOW MANY STUDENTS? THIS ONE.

IT'S DESIGNED TO SERVE UP TO 23 STUDENTS, SIR.

AND IT'S IN A LOT OF DIFFERENT FIELDS.

RIGHT? IT'S NOT JUST ENGINEERING, IT'S AGRICULTURE, NATURAL RESOURCES, FINANCE, MARKETING, ETC..

CORRECT? YES. IT'S PRETTY MUCH ALL INDUSTRIES AGRICULTURE, FOOD AND NATURAL RESOURCES, BUSINESS AND FINANCE AND MARKETING, EDUCATIONAL AND TRAINING, HEALTH AND SCIENCE AND INFORMATION TECHNOLOGY, MANUFACTURING.

SO LAST YEAR WE WERE ABLE TO ENROLL INDIVIDUALS IN CIVIL ENGINEERING, MARKETING, BUSINESS ADMINISTRATION, BUSINESS MANAGEMENT AND BIOMEDICAL SCIENCE, COMMUNICATIONS. FINANCE.

MARKETING. MECHANICAL ENGINEERS AS WELL ELECTRICAL ENGINEERS AND SOME AS WELL IN IN MEDIA AND LIBERAL ARTS AS WELL.

WAS THERE ANY INFORMATION THAT WAS RECEIVED REGARDING WHY THERE ISN'T A LITTLE BIT HIGHER RETAINAGE ON THE ON THE STUDENT I'M SORRY SIR, WHAT IS THE. BECAUSE YOU SAID BETWEEN THREE TO BETWEEN 3 TO 5 OR BETWEEN 3 TO 4.

30. THE ONES THAT WERE EMPLOYED FULL TIME.

RIGHT. THAT DEPENDS ON THE EMPLOYER.

SO THE PROGRAM CORRECT.

AFTER THE COMPLETION OF THE THE INTERNSHIP PROGRAM, THE EMPLOYER IF THEY IF THEY SEE FIT FOR, FOR THEIR BUSINESS NEEDS, THEY, THEY MAKE THE FULL TIME OFFER TO THE STUDENTS.

YES. AND WHEN YOU SCREEN THE EMPLOYERS, ARE YOU LOOKING FOR PEOPLE THAT ARE LOOKING TO RETAIN THEM BEYOND JUST GETTING THE ASSISTANCE FOR A SHORT WHILE? WE TRY TO TAKE THAT INTO CONSIDERATION.

AND I KNOW JACK FROM UTRGV, HE'S BEEN GREAT AT THAT AS WELL.

WHEN WE ARE PROPOSING THE INITIATIVE TO EMPLOYERS, WE MAKE MENTION OF THAT THAT WE WOULD LIKE FOR THEM TO RETAIN THESE INDIVIDUALS IF POSSIBLE. IT IS NOT A REQUIREMENT.

BUT WE DO STRESS THAT OPPORTUNITY FOR THEM.

AND WE TRY TO ALSO PRIORITIZE THOSE THAT WE SEE YOU KNOW, HIGHER POTENTIAL FOR FULL TIME HIRE AS WELL.

SO CAN I SUGGEST ONE KPI TO TRACK HOW MANY? IF YOU COULD TRACK THE KPI OF HOW MANY STUDENTS RETAIN FULL TIME POSITIONS WHERE

[01:00:05]

YES, DEFINITELY. WE CAN WE CAN LOOK INTO THAT.

I KNOW WE HAVE SOME OF THOSE NUMBERS.

I JUST DIDN'T BRING THEM WITH ME TODAY.

BUT WE CAN WE CAN LOOK FOR THEM AND GET THEM TO TO YOU THROUGH.

MR. GARCIA WILL PROVIDE THOSE TO TO HIS TEAM.

THANK YOU. THANK YOU. ANY OTHER QUESTIONS? I'M JUST CURIOUS. THE COMPANIES THAT ARE NOT RETAINING THESE, THESE INDIVIDUALS, ARE THEY GIVING ANY REASONS AS TO WHY? I MEAN, ARE THEY JUST NOT GOOD FITS OR.

I MEAN, DO WE HAVE ANY TYPE OF FEEDBACK AS TO WHY? I'M JUST A LITTLE CONCERNED THAT THE RETENTION IS VERY, VERY LOW. AND THAT'S I MEAN, I'D LIKE TO SEE IT A LOT HIGHER.

I MEAN, OBVIOUSLY, YOU KNOW, I'M JUST CURIOUS WHAT REASON ARE THEY GIVING THAT THEY'RE NOT KEEPING THEM AROUND? OKAY. WE CAN WE CAN GET THAT TO YOU AS WELL.

SO FAR WHAT WE HAVE HEARD IS IT WAS A GREAT EXPERIENCE FOR THEM.

THE EMPLOYERS WERE VERY HAPPY WITH THE CANDIDATES.

HOWEVER, THE EMPLOYER IS NOT OBLIGATED TO RETAIN THEM OR THE STUDENTS.

SOMETIMES THEY THEY ARE LOOKING FOR DIFFERENT OPPORTUNITIES.

THEY ARE JUST LOOKING FOR THE EXPERIENCE AT THAT POINT IN TIME SO THAT THEY'RE ABLE TO ADD THAT TO THEIR CURRICULUM FOR OTHER OPPORTUNITIES THAT MAY COME TO THEM.

AND THE OTHER QUESTION I HAD IS AT WHAT POINT IN THEIR CAREER DO THEY QUALIFY FOR THIS INTERNSHIP? LIKE IN NURSING, ONCE YOU'RE COMPLETELY DONE WITH THE PROGRAM, YOU DO THE INTERNSHIP AT A FACILITY AND MOST OF THEM GET HIRED.

OBVIOUSLY NURSING IS A DIFFERENT DEMAND, RIGHT? BUT BECAUSE THEY'RE ABOUT TO TAKE THEIR BOARDS, THEY'RE AT THE END OF THEIR STUDIES. AT WHAT POINT IN THE ACADEMIC PROCESS ARE THESE INTERNSHIPS ALIGNED? I BELIEVE THAT IS CLOSE TO THAT PROBABLY IN THE LAST YEAR OF THEIR STUDIES WHEN IT IS POSSIBLE TO BRING THEM IN AS INTERNS.

IT DEPENDS ALSO ON THE EMPLOYER AND THEIR INTERNAL PROCEDURES AND REGULATIONS BECAUSE THEY AND IN SOME OF THOSE OCCUPATIONS, THEY DO HAVE SOME LIABILITY AND THEY HAVE TO TAKE INTO CONSIDERATION INSURANCES AND A LOT OF OTHER ELEMENTS THAT, YOU KNOW, WHEN BRINGING IN STUDENTS THAT ARE NOT CERTIFIED YET, BUT YET THEY WANT TO PROVIDE THE EXPERIENCE TO THEM.

SO WE ARE ABLE TO WORK WITH THEM AS THEY ARE GETTING CLOSER TO THEIR FINAL STUDIES, PROBABLY WITHIN THE LAST YEAR.

IT SOUNDS LIKE A GREAT PROGRAM AND LIKE EVERYONE AGREES, WE WANT TO KEEP ALL OUR TALENT, RIGHT? NO SEVERAL TIMES. BRAIN DRAIN.

FLIGHT OF OF ALL THE PEOPLE THAT YOU WANT TO STAY.

BUT I THINK I JUST WANT SOME MORE INFORMATION.

SOUNDS LIKE A GREAT, GREAT PROCESS FOR FOR INTERNSHIP.

I THINK I JUST WANT A LITTLE MORE INFORMATION TO MAKE SURE THAT, FOR ONE, WE WE TRY AND AND SERVICE THE RESIDENTS OF EDINBURG.

AND KEEP MY FINGERS CROSSED.

YOU KNOW, IT'S BUSINESS AS IN EDINBURGH THAT RETAIN THEM.

BUT IF YOU COULD JUST COME BACK WITH THAT INFORMATION. YEAH, ABSOLUTELY.

DEFINITELY. YEAH. AND I THINK THAT'S WHY THE SCREENING PROCESS WILL BE REALLY IMPORTANT TOO, BECAUSE YOU WANT EMPLOYERS THAT ARE REALLY LOOKING TO HIRE FULL TIME AND NOT JUST HAVE HELP ON A VERY TEMPORARY BASIS.

RIGHT. AND SOMETIMES IT REALLY DOES HELP WHEN THE EMPLOYER HAS SKIN IN THE GAME BECAUSE THEN THEY'VE, YOU KNOW, THEY PUT SOMETHING INTO IT, AND NOW THEY WANT TO MAKE SURE THAT THEY GET THAT BACK FROM THE FROM THE FUTURE EMPLOYEE.

OKAY. OKAY. ANYTHING TO ADD? NO. THE ONLY THING THAT WAS WE HAD ALREADY TALKED ABOUT SOME RESTRICTIONS VERY SIMILAR TO WHAT OTHER PROGRAMS WE'VE TALKED ABOUT IN THE PAST, WHERE WE WANTED TO MAKE SURE THAT THEY WERE EITHER WORKING IN EDINBURGH OR LIVING IN EDINBURGH, BECAUSE THAT WOULD BE THE MOST BENEFICIAL FOR US.

AND OF COURSE, THEY HAVE TO BE AT LEAST 18 YEARS OLD BECAUSE NOW WITH DUAL CREDIT AND EVERYTHING, WE'VE GOT SENIORS THAT ARE STILL BABIES.

BUT YEAH, THOSE WERE REALLY THE THREE MAIN POINTS FOR US.

BEYOND THAT, WE'D HAVE TO HAVE SOME KIND OF FUNDING AGREEMENT THAT CAN BE DRAFTED OUT.

YEAH. AND FOR ME, IT JUST KIND OF LIKE FOLLOWING THE NURSING MODEL, YOU KNOW, IT'S YOUR DEGREE.

IT'S WHAT YOU'RE GOING TO DO. NOT SOMETHING EARLY. YOU KNOW, ONE YEAR, TWO YEARS IN WHERE YOU MIGHT GO INTERN AND CHANGE YOUR WHOLE PERCEPTION OF WHAT YOU WANT TO DO FOR A LIVING. AND AND THEN THIS, THIS MONEY DIDN'T REALLY RETAIN YOU OR KEEP YOU IN THAT INDUSTRY. YEAH.

AND THIS IS SIMILAR TO A PREVIOUS PROGRAM YOU WERE WALKING IN AFTER.

THEY HAD ALREADY TALKED ABOUT THAT. BUT WHAT THEY SAID WAS THAT MOST OF THE STUDENTS WHO ARE PARTICIPATING IN THESE TYPES OF PROGRAMS ARE SENIORS. OKAY, GREAT. GREAT. THANK YOU.

THANK YOU, THANK YOU. YEAH.

IF YOU COULD JUST PROVIDE US WITH SOME INFORMATION ON ON THOSE THAT DID NOT GET HIRED, WHAT WERE THE REASONS?

[01:05:02]

YES. AND I DID HAVE ONE QUESTION FOR YOU ALL.

SO OF THE FUNDING THAT YOU ARE SEEKING IN RGV, FOCUS HAS ALREADY COMMITTED 5000.

AND IT STATED ON HERE THAT YOU'RE SEEKING FUNDS FROM INDUSTRY PARTNERS.

SO ARE THERE ANY OTHER INDUSTRY PARTNERS THAT YOU ALL HAVE DISCUSSED THIS WITH? NOT AT THIS POINT, SIR.

IT'S RIGHT NOW WE'RE ONLY CONSIDERING EDINBURG ADC AND RGV FOLKS.

I DON'T KNOW IF YOU'RE FAMILIAR WITH RGV FOCUS, BUT LET ME JUST, YOU KNOW, THIS IS HIS SHOW, RIGHT? I'M JUST SUPPORTING MY NAME.

MY NAME IS MILLIE HERNANDEZ. I'M DEPUTY DIRECTOR FOR RGV FOCUS AND I AM A COLLECTIVE IMPACT INITIATIVE FOR EDUCATE TEXAS IN FROM DALLAS.

AND BASICALLY OUR ROLE HERE IN THE VALLEY IS BASICALLY TO HELP THE VALLEY INCREASE CREDENTIALS INDUSTRY BASED CERTIFICATIONS AND IMPROVE WORKFORCE DEVELOPMENT AND IMPROVE EDUCATION IN GENERAL FOR FOR OUR VALLEY STUDENTS.

AND SO THAT IS BASICALLY WHAT OUR FOCUS IS AND WHY WE'RE VERY INTERESTED IN PARTICIPATING IN ASSISTING.

SO I JUST WANT TO SHARE THAT WITH YOU ALL.

SO IN CASE YOU HAVE ANY QUESTIONS ON THAT.

THANK YOU. THANK YOU MILLIE.

ALL RIGHT. WELL THANK YOU. IF YOU'LL JUST BRING THAT INFORMATION BACK TO MR. GARZA, THEN WE CAN TAKE IT UP TO THE NEXT MEETING.

YES, ABSOLUTELY. THANK YOU SO MUCH.

OKAY LET'S GO BACK TO ITEM B, WHICH IS THE THE PRESENTATION OF YEAR TO DATE FINANCIAL REPORT ENDING ON MARCH 31ST, 2024.

VERONICA, I CAME IN AT 547.

OH, I'M SO SORRY, SABRINA.

YES. OKAY. I SAW YOU COMING IN.

I KNOW EVERYBODY SAW YOU, AND I DIDN'T ANNOUNCE IT.

THANK YOU SO MUCH. 546 THANK YOU, SABRINA HERNANDEZ.

ITEM B THEN. WELL, THE GOOD THING IS, I DON'T KNOW IF YOU HEARD IT.

WE'VE GOT OVER A THOUSAND DAYS IN RESERVES BASED ON THE AUDITOR, SO THAT'S A GOOD THING AS WE GO INTO THE PRESENTATION OF THE FINANCIAL REPORT AND AGAIN, TO THEIR CREDIT, AS OF WHAT DATE THAT WAS AS OF SEPTEMBER 30TH, 2023. LOOKING AT YOUR FINANCIALS FOR THE MOST CURRENT FINANCIALS, WHICH IS MARCH 31ST, 2024 AT THE BALANCE SHEET, WHICH IS THE FIRST PAGE IN THAT IN THAT PACKET IF YOU LOOK AT THE UNRESTRICTED FUND BALANCE, YOU HAVE 11,000,837 554.

SO THERE IS A DIFFERENCE BECAUSE WE HAVE SPENT A LITTLE BIT OF MONEY THIS YEAR.

SO YEAH. AND, AND THERE'S SOME OTHER COMMITMENTS THAT WE HAVE IN THE NEAR FUTURE WHICH ARE GOING TO CONTINUE TO WHITTLE THAT DOWN A LITTLE BIT.

BUT WE CAN TALK ABOUT THAT LATER ON.

RIGHT NOW, WHAT I'D LIKE TO SAY IS THAT WE HAVE IN TOTAL ASSETS, $35.6 MILLION. OF THAT, THE CASH AND CASH EQUIVALENTS AND AND INVESTMENTS ARE ABOUT NINE POINT ALMOST $9.8 MILLION.

OUR LIABILITIES FOR THIS FISCAL YEAR ARE SO FAR IS 505,008 29.

AND WE HAVE CAPITAL PROJECTS RESTRICTED BALANCE OF 6.6 MILLION.

DEBT SERVICE SET ASIDE FOR 2.2 MILLION, OTHER NOTE RECEIVABLES OF 9.6.

AND WE HAVE SOME MONEY SET ASIDE FOR PROPERTY ACQUISITIONS OF 4.7.

AND OF COURSE, THAT UNRESTRICTED FUND BALANCE THAT WE TALKED ABOUT WHICH WAS QUITE A BIT OF DIFFERENCE BETWEEN SIX MONTHS AGO AND NOW ON THE NEXT PAGE, YOU HAVE OUR MONTHLY BUDGET ACTIVITY REPORT.

AS YOU CAN TELL, THIS IS A SIX MONTH.

SO IF YOU LOOK AT THE PERCENTAGE, WHICH IS THE THIRD COLUMN ON THE REVENUE AND EXPENDITURES, 50% IS WHERE WE SHOULD BE SINCE WE'RE HALFWAY THROUGH THE YEAR.

THOSE THAT ARE WAY BELOW IN TERMS OF THE REVENUE SIDE MEANS WE HAVEN'T GOTTEN TO THE POINT THAT WE WANT TO BE.

SO ON GENERAL SALES AND USE TAX, FOR EXAMPLE, WE'RE AT ALMOST $3.9 MILLION YEAR TO DATE.

THAT'S 40% OF OUR GOAL.

SO WE'RE A LITTLE BIT BELOW OUR PROJECTED BUDGET.

HOWEVER, THAT COULD CHANGE JUST DEPENDS ON HOW THE, THE, THE, THE SPENDING GOES IN TERMS OF THE, THE CITIZENS HERE INTEREST EARNED.

WE'RE WAY ABOVE IN MOST OF THOSE NUMBERS.

WE'RE DOING VERY WELL IN OUR INTEREST EARNINGS BECAUSE OF THE FUNDING THAT WE STILL HAVE FROM SOME OF THOSE CAPITAL PROJECTS THAT HAVE NOT BEEN SPENT.

WE HAVEN'T SOLD ANY PROPERTY THIS FISCAL YEAR, BUT WE HAVE SEVERAL PROPERTIES THAT ARE UNDER CONTRACT AND SEVERAL THAT ARE GETTING CLOSE TO, TO CLOSING. SO WE'LL BE SEEING SOME NUMBERS IN THERE IN THE NEXT FEW MONTHS.

ON ADMINISTRATIVE SERVICES.

WE'RE WELL BELOW OUR BUDGET SO FAR.

WE ALSO ARE WELL BELOW OUR BUDGET IN PROGRAM SPENDING AND IN PROPERTIES AS WELL.

[01:10:03]

WE TALKED ABOUT THAT ONE.

THAT RELOCATION IS ONE OF THE REASONS WHY WE'RE GETTING ONE OF THE CLOSINGS, WHICH SHOULD HAPPEN. CARLOS.

NEXT WEEK, MAYBE. SO WE'VE GOT A PROPERTY THAT'S THAT'S CLOSING PROBABLY BY NEXT WEEK BECAUSE OF THIS RELOCATION OF THAT IRRIGATION LINE.

WE ALSO HAVE THE CITY CONTRIBUTION OF 7.257.

THAT WAS FOR PROJECT THAT WE HAVE DISCUSSED IN THE PAST.

AND THEN THERE'S SOME OTHER PROJECTS THAT ARE COMING UP THAT WE'RE GOING TO CONTINUE TO TO FUND ON THAT LINE ITEM AS WELL.

ON OUR DEBT SERVICE, WE'RE BASICALLY WHERE WE NEED TO BE.

WE HAVE PAYMENTS IN FEBRUARY AND WE HAVE PAYMENTS IN AUGUST.

SO RIGHT NOW THE MAJORITY OF PAYMENTS PRINCIPAL AND INTEREST ARE IN FEBRUARY, SO WE'VE ALREADY PAID THAT OUT.

THE AUGUST PAYMENT IS TYPICALLY JUST INTEREST ONLY.

AND SO WE'RE RIGHT ON BUDGET WITH THAT.

IN TERMS OF THE TIMING IN TERMS OF THE BOND PROJECTS, THE WORKFORCE RESOURCE CENTER, WE HAVEN'T SPENT THAT MONEY YET, AND WE STILL HAVE SOME LITTLE ITEMS THAT WE NEED TO FINALIZE BEFORE WE CLOSE THAT ONE OUT. ACE AND THE MUNICIPAL WATER PARK.

WE HAVE ALREADY BEEN INVOICED.

THOSE NUMBERS AS OF MARCH, IT HADN'T BEEN PAID, BUT IT HAS BEEN PAID IN APRIL.

SO NEXT MONTH'S FINANCIALS WILL LOOK A LITTLE BIT DIFFERENT.

AND THAT'S REALLY ABOUT IT FOR MY REPORT, UNLESS ANYBODY HAS ANY QUESTIONS.

AND NEXT MONTH I'LL ALSO BRING UP SOME BUDGET AMENDMENTS THAT WE HAVE TO HAVE.

ALL RIGHT. SO DO YOU WANT US.

DO WE NEED TO APPROVE THAT OR JUST JUST A PRESENTATION? IT'S JUST A PRESENTATION, OKAY? IT'S UNAUDITED AND STILL SUBJECT TO SOME FINAL JOURNAL ENTRIES.

ON THE NEXT ITEM, WHICH IS OUR INVESTMENT REPORT, SOMETHING THAT WE HADN'T DONE. BUT WE ARE DOING THIS IS SOMETHING THAT ASCENSION ALONSO AND MYSELF PUT TOGETHER.

THE FINANCE DEPARTMENT BASICALLY SAID THAT OUR QUARTERLY THIS PAST QUARTER'S INVESTMENTS TOTALED $16,876,232, WHICH INCLUDED INTEREST EARNED TOTALING OVER $224,000.

SO THE DETAILS ON THAT IS IN THE PACKET, BUT REALLY, THE MONEY'S IN TEXSTAR AND IT'S GOING TO BE TRANSFERRED AND HAS BEEN TRANSFERRED INTO TECH'S POOL. BUT THEY'RE BOTH PUBLIC INVESTMENT FUNDS THAT THE CITY AND EDC PUT THEIR MONEY IN. AND THE RATE OF RETURN ON THAT HAS BEEN FAIRLY STEADY, RIGHT? YES. YEAH. AT ABOUT 5.62, I THINK IT CHANGES ON A DAILY BASIS.

BUT FOR THE MOST PART IT IS AND I'M LOOKING AT THE PACKET YOU KNOW, IN JANUARY OF 2023, IT WAS AT ABOUT 4.2.

BY DECEMBER 2023 IT WAS 5.3.

RIGHT NOW WE'RE AT 5.62.

SO IT'S BEEN GOING UP SLIGHTLY EVERY MONTH.

WITH AN AVERAGE OF ABOUT 5%.

YEAH. YES, SIR. YEAH. ALL RIGHT.

ANY QUESTIONS FOR MR. GARCIA ON EITHER THE QUARTERLY INVESTMENT REPORT OR THE OF THE FINANCIAL YEAR TO DATE FINANCIAL REPORT.

IF NOT, THEN I THINK THE REMAINING ITEMS ARE FOR EXECUTIVE SESSION.

CAN I GET A MOTION TO ENTER INTO EXECUTIVE SESSION? SO MOVED. SECOND. ALL IN FAVOR, SAY AYE.

RAISE YOUR RIGHT HAND. OKAY.

WE ARE THEN GOING INTO EXECUTIVE SESSION AT 06:08 P.M..

[02:06:45]

[02:06:50]

[02:06:54]

[02:07:02]

[02:07:06]

[02:07:10]

[02:07:13]

[02:07:17]

[02:07:22]

[02:07:26]

[02:07:33]

FOR EXAMPLE, YOU WANT TO SEE WHAT WAS THE ACTIVITY FOR CAPITAL ASSETS.

THERE'S GOING TO BE A TABLE HERE DESCRIBING THE ADDITIONS AND DELETIONS AND ANY ADJUSTMENT, IF ANY. SAME THING FOR THAT OR FOR ANY OTHER OBLIGATIONS AS WELL, LIKE OPEB LIKE OTHER POST-EMPLOYMENT BENEFITS OR THE NET PENSION LIABILITY AS WELL.

YOU'LL BE ABLE TO FIND THAT THAT INFORMATION THERE.

YEAH, IT WAS VERY THOROUGH. IN FACT, I GUESS BECAUSE YOU ALL ARE ALSO THE AUDITORS FOR THE CITY. RIGHT. SO A LOT OF THIS INVOLVED, I GUESS YOUR THE BENEFITS AND ALL THE THINGS THE CITY SAYS WHEN IT COMES TO THE PENSION LIABILITY AND THE OPEB LIABILITY.

YES. WE GET THAT INFORMATION FROM THE CITY, OKAY.

BECAUSE THEY'RE ALL TOGETHER IN THAT PENSION PLAN? CORRECT. OKAY. LET'S MOVE ON TO PAGE 52.

52? YES, 52. THAT'S A REPORT ON INTERNAL CONTROLS OVER FINANCIAL REPORTING.

SO THIS YEAR, THERE WAS NO NEW FINDINGS.

THERE WAS ONLY THREE OUT OF THE FIVE PRIOR YEAR FINDINGS THAT STAYED.

TWO OF THOSE FINDINGS WERE CORRECTED. SO THAT'S WHY THEY'RE NOT CURRENT YEAR.

BUT OUT OF THOSE THREE THERE'S TWO APPLICABLE FOR THE FISCAL YEAR SEPTEMBER 30TH, 2023. BUT THEY DID SHOW IMPROVEMENT.

SO IF MANAGEMENT KEEPS TRACK OF THESE FINDINGS, THEY COULD MORE THAN LIKELY HAVE THEM RESOLVED NEXT YEAR.

FOR NEXT YEAR'S AUDIT.

AGAIN, IT WAS THREE OUT OF THE THREE FINDINGS FROM LAST YEAR.

THREE TWO WERE CORRECTED AND THREE ARE STILL APPLICABLE.

AND AND THE THREE THAT ARE STILL OUT THERE ARE BEING WORKED ON AT THIS TIME FROM WHAT I READ. OKAY. IF YOU LOOK ON PAGE 54, MANAGEMENT PROVIDES A RESPONSE FOR EACH RESPONSE FOR EACH OF THE FINDINGS.

AND YOU CAN SEE THERE HOW THEY'VE BEEN IMPROVING COMPARED TO LAST YEAR.

SO THIS CONCLUDES MY PRESENTATION.

IF THERE'S ANY QUESTIONS WE'RE HERE TO ANSWER THEM AT THIS TIME.

DOES ANYONE HAVE ANY QUESTIONS FOR FRANK WITH ASSOCIATES? NO. OKAY. MR. GARZA, WAS THERE ANYTHING YOU WANTED TO ADD TO THAT? HI. HI, DAN. PLEASE LET THE RECORD SHOW THAT DAN DIAZ HAS JOINED US.

THE ONLY COMMENT I WANTED TO MAKE. I JUST WANTED TO MAKE A COMMENT THAT THIS WAS A LOT

[02:10:02]

FINANCE DEPARTMENT IS GETTING REALLY SMOOTH AT DOING WHAT THEY NEED TO BE DOING IN TERMS OF REPORTING. AND WE'RE GETTING A LITTLE BIT MORE HELP ON OUR END ALSO.

SO LETTY WASN'T DOING EVERYTHING ALL BY HERSELF THIS TIME.

SO YEAH, AND IT'LL KEEP IMPROVING AS AS WE GET MORE COMFORTABLE WITH EVERYTHING.

I KNOW THAT THERE HAD BEEN A PROBLEM BECAUSE THE CITY WAS TRANSITIONING WITH THE PREVIOUS PEOPLE. AND ALSO, I BELIEVE THIS IS AROUND THE TIME THAT YOU WERE TRYING TO COME IN AND AND SO THERE WAS SOME I'M EXTREMELY HAPPY TO HEAR THAT, THAT EVERYTHING'S GOING A LOT SMOOTHER. AND I HAVE NO DOUBT THAT WHATEVER FINDINGS YOU FOUND WILL BE CORRECTED PRETTY SOON.

YES. THANK YOU FOR THAT.

AND I AND I'M ESPECIALLY HAPPY TO SEE THAT WE HAVE OVER A THOUSAND DAYS OF, OF MONEY FOR OPERATIONS.

IF THINGS WERE TO STOP TODAY THAT WE STILL COULD OPERATE.

THAT WAS AS OF SEPTEMBER 30TH.

YEAH, THAT'S REALLY HELPFUL.

NOT THAT THINGS ARE GOING TO STOP, BUT THAT'S REALLY HELPFUL TO KNOW WE HAVE MORE DAYS NOW SIX MONTHS AGO.

SO WITH WITH THAT CAN I GET A MOTION TO APPROVE THE AUDIT REPORT FOR FISCAL YEAR 2223. I'LL MAKE A MOTION TO APPROVE AS PRESENTED.

SECOND. ALL IN FAVOR, SAY AYE OR RAISE YOUR RIGHT HAND.

A MOTION TO APPROVE. THANK YOU SO MUCH, FRANK.

THANK YOU. WE'RE GOING TO GO AHEAD AND EXCUSE OURSELVES. THANK YOU. THANK YOU SIR. THANK YOU. THANK YOU. OKAY. LET'S GO TO I KNOW WE STILL HAVE WE HAVE SOME OTHER GUESTS WITH US TODAY. SO LET'S GO TO ITEM D, CONSIDER PRESENTATION AND REQUEST FOR MATCHING GRANT FOR AN INTERNSHIP PROGRAM BY WORKFORCE SOLUTIONS AND RGV FOCUS.

SO WITH US WE HAVE AMELIA HERNANDEZ AND DANIEL URIBE.

DANIEL IS WITH WORKFORCE SOLUTIONS AND LILY IS WITH RGV FOCUS.

SO THEY'RE GOING TO TALK A LITTLE BIT ABOUT A GRANT OPPORTUNITY FOR US AND OUR CITIZENS HERE IN EDINBURG. THANK YOU.

THANK YOU, THANK YOU, MR. GARCIA.

GOOD EVENING EVERYBODY.

MY NAME IS DANIEL URIBE.

I'M THE BUSINESS RELATIONS AND INFORMATION MANAGER FOR WORKFORCE SOLUTIONS.

WE SERVE THE THREE COUNTY AREA STARR, WILLACY AND HIDALGO.

SO TODAY WE WOULD LIKE TO PROPOSE AN INITIATIVE TO THE BOARD.

THIS IS WHAT WE CALL THE LEAD INTERNSHIP INITIATIVE.

IT IS AN EXPANSION OF A PREVIOUS INITIATIVE THAT WE STARTED LAST YEAR.

COULD YOU GET A LITTLE CLOSER TO THE MIC SO WE CAN HEAR YOU BETTER? SO THIS IS AN EXPANSION OF THE INITIATIVE THAT WE PROVIDE THAT WE STARTED LAST YEAR.

JUST TO PROVIDE A LITTLE BIT OF BACKGROUND WORKFORCE SOLUTIONS WORK WITH UTRGV LAST YEAR TO BEGIN THESE INTERNSHIPS AROUND SUMMER LAST YEAR IT WAS VERY SUCCESSFUL.

WE WERE ABLE TO FUND A MEANINGFUL WORK EXPERIENCE, PAID WORK EXPERIENCE FOR ABOUT 30 INDIVIDUALS, AND THAT WAS FUNDED THROUGH A SPECIFIC FUNDING THAT RESULTED FROM AN AWARD THAT WORKFORCE SOLUTIONS RECEIVED FROM PROVIDING SERVICES TO EMPLOYERS.

UNFORTUNATELY, THAT FUNDING EXHAUSTED.

SO WHAT WE DECIDED TO DO IS PROPOSE TO RESTIVE, WHICH IS THE RIO SOUTH TEXAS EDUCATION AND COMMUNITY DEVELOPMENT FOUNDATION TO EXPAND THIS PARTICULAR INITIATIVE FOR ANOTHER YEAR.

AND, AND SO WHAT WE ARE PROPOSING IS INVESTMENT OF $50,000 TO FUND UP TO 23 INTERNSHIP PROGRAMS. THESE PARTICULAR STUDENTS ARE ALSO PART OF UTRGV.

AND THE IDEA IS TO HELP THEM, AGAIN MAKE THE CONNECTION WITH EMPLOYERS.

HOPEFULLY THESE EMPLOYERS ARE ABLE TO RETAIN THEM AFTER THE WORK EXPERIENCE, THE INTERNSHIP PROGRAM FINISHED, AND WE LOOK FORWARD TO, START THAT PARTICULAR PROGRAM.

NOW, THE GRANT THAT WE RECEIVED FROM RESTIVE REQUIRES A MATCHING COMPONENT, A DOLLAR PER DOLLAR MATCH.

SO WE RECEIVED $25,000 FROM RESTIVE.

AND WE ARE REQUESTING AN ADDITIONAL 20,000 FROM EDINBURGH EDC.

AND OUR PARTNER RGB FOCUS IS ALSO CONTRIBUTING TO THE THIS PARTICULAR FUNDING WITH ANOTHER $5,000. SO WE ARE VERY EXCITED TO TO BE ABLE HOPEFULLY TO CONTINUE THIS INITIATIVE TO SERVE THESE INDIVIDUALS, SPECIFICALLY THOSE 23 STUDENTS THAT IN PARTNERSHIP WITH UTRGV HOPEFULLY ARE ABLE TO ACCESS THESE PAID WORK EXPERIENCE.

SO JUST TO BE CLEAR. SO UTRGV WOULD SIMPLY ADVERTISE IT FOR THE STUDENTS, AND THE STUDENTS WOULD BE THEN CONNECTED WITH INDUSTRY.

THE MONIES WOULD BE USED TO PAY THE STUDENTS.

[02:15:02]

AND I WOULD LIKE TO MENTION THAT UTRGV TEAM AND STAFF, THEY'VE BEEN GREAT WITH US.

THEY HAVE AN AMAZING INTERNSHIP FRAMEWORK THAT WE RELIED ON.

AND THAT WAS ONE OF THE REASONS OF WHY WORKFORCE SOLUTIONS DECIDED TO PARTNER UP WITH THEM. THEY HAVE THE SYSTEMS IN PLACE AND THE PROGRAM DESIGNS TO HELP CONNECT THESE STUDENTS WITH EMPLOYERS.

AND SO IN PARTNERSHIP WITH WORKFORCE SOLUTIONS, WE ALSO HELP BRING EMPLOYERS THAT ARE LOOKING FOR PARTICULAR INTERNSHIPS.

WE WORK WITH VARIOUS INDUSTRIES, ALL OF THEM.

AND SO THIS WAS A GREAT OPPORTUNITY FOR, FOR A LOT OF STUDENTS LAST YEAR WITH UTRGV.

AND SO WE HOPE TO REPEAT THAT SUCCESS THIS YEAR.

AND JUST SO TO BE CLEAR, ALSO BECAUSE I WORK AT UTRGV, SO I WANT TO JUST GET THIS FOR THE RECORD, THERE IS NO MONIES THAT ARE GOING TO UTRGV FOR THIS PROGRAM. THE MONIES ARE GOING DIRECTLY TO THE STUDENTS FOR THEIR WORK.

IS THAT CORRECT? MOST OF THE MONEY? YES.

THERE IS A COMPONENT. 5% OF ADMINISTRATIVE COSTS.

THAT IS GOING TO UTRGV AND WORKFORCE SOLUTIONS.

OKAY. SO AND WORKFORCE SOLUTIONS, 5% OF THE MONIES THAT THE EDC WOULD CONTRIBUTE OR WAS THAT.

NO, THAT IS COMING FROM THE REST OF THE FOUNDATION.

OKAY. SO THAT'S NOT COMING FROM FROM THE EDC.

OKAY. ALL RIGHT. GOOD.

AND COULD WE TAILOR THIS TO ASSURE THAT THE STUDENTS ARE EITHER GOING TO BE WORKING IN EDINBURG OR WOULD BE A RESIDENT OF EDINBURG? ABSOLUTELY, YES. THAT IS SOMETHING THAT WE CAN CUSTOMIZE AND REDEFINE IN, IN MOUS OR AGREEMENTS THAT WE CAN ESTABLISH.

SHOULD THIS PROPOSAL GETS APPROVED BY THE BOARD? YES. DID WE CONTRIBUTE LAST YEAR TO THIS? NOT NOT NOT EVEN FUNDING, BUT PARTICIPATION.

WE PARTICIPATED IN CLEARANCE CREWS, WAS WORKING FOR US AS ONE OF THE INTERNS.

BUT WE DID NOT PARTICIPATE IN THE FUNDING FOR THAT PROGRAM.

OKAY. AND HOW MUCH WOULD THE STUDENTS BE PAID? THEY ARE GETTING PAID $12 AN HOUR FOR UP TO 160 HOURS.

NO MORE THAN 19 HOURS PER WEEK, IF I'M NOT MISTAKEN.

YES. AND SO WE THE $12 PER HOUR, THAT IS AN AVERAGE RECOMMENDATION MADE BY WORKFORCE SOLUTIONS AND UAB.

NOW WE UNDERSTAND THAT, FOR EXAMPLE, IN SOME INSTANCES WHERE WE HAVE ENGINEERS DOING THIS PARTICULAR INTERNSHIPS THE THE WAGE WAS PROBABLY A LITTLE LOWER THAN EXPECTED. THIS WAS BROUGHT UP BY THE EMPLOYERS, AND SO WE WERE ABLE TO TALK TO THEM AND GET INTO AN ADDITIONAL PARTNERSHIP WHERE THEY WERE SUPPLEMENTING ADDITIONAL WAGES FOR THESE ENGINEERING STUDENTS.

SO OKAY, SO THAT WOULD COME FROM THE EMPLOYERS, CORRECT? YES. AND THANK YOU TO RGV LEAD FOR RGV.

FOCUS. SORRY THERE'S SO MANY RGV, RGV, FOCUS AND MILLIE, I KNOW YOU'VE BEEN VERY PASSIONATE ABOUT INTERNSHIPS AND STEM EDUCATION FOR MANY, MANY YEARS. SO THANK YOU FOR CONTRIBUTING AS WELL TO THIS PROJECT.

I THINK ONE OF THE THINGS WE'VE ALWAYS SAID IS THAT WE'VE GOT THE TALENT, BUT WE GOT TO KEEP THEM IN THE RIO GRANDE VALLEY.

AND SO HOPEFULLY WITH THESE INTERNSHIP PROGRAMS, IT'S A PIPELINE WHERE THEY'RE ABLE TO TO GET IN, GET THE EXPERIENCE AND THEN HOPEFULLY STAY IN THE JOB.

THAT IS CORRECT. ARE THESE FOR JUNIOR SENIOR STUDENTS OR ARE THEY JUST ARE THEY ALL YEARS PRIMARILY SENIORS? YES.

SENIORS. OKAY. ANY OTHER QUESTIONS? YEAH. SO I WAS READING OVER IT.

SO $12 AN HOUR AND.

THINGS. THERE WE GO. ALL RIGHT.

IT IS 749. WE ARE BACK FROM EXECUTIVE SESSION.

[OPEN SESSION]

RAISE YOUR RIGHT HAND.

MOTION APPROVED. OKAY.

WE'RE BACK. WE HAD DECIDED ON PROJECT, NUMBER TWO.

PROJECT GAS TWO. PROJECT NUMBER FIVE.

[.2 Project Gas Too]

[.5 Project Hospitality]

[02:20:03]

[6. RGV CDL]

[7. Project Tonka]

CAN WE GET A MOTION TO THAT EFFECT? MOTION TO PROCEED. SECOND, ALL IN FAVOR, SAY AYE OR RAISE YOUR RIGHT HAND. OKAY. MOTION APPROVED.

AND I THINK THAT'S ALL WE HAVE.

CAN I GET A MOTION TO ADJOURN? MOTION TO ADJOURN. SECOND.

ALL IN FAVOR, SAY I RAISE YOUR RIGHT HAND.

MOTION APPROVED. OKAY, WE ARE ADJOURNED.

THANK YOU.

[9. ADJOURNMENT]