Jul 21, 2025 EEDC Meeting

[00:00:11]

LIKE I HAVE T LIKE EARLY FOR BREAKFAST AND THROUGHOUT THE DAY IT'S ALMOST LIKE WORKING OUT. YEAH. SO WE'RE NOT DOING ANYTHING.

NO NO NO NO. THAT'S. AWESOME.

THAT'S SO GOOD.

ALL RIGHT GUYS, TODAY IS JULY 21ST, 2025 FOR OUR REGULAR AGENDA MEETING OF 530.

IT IS 5:31 P.M. AND I CALL THIS MEETING TO ORDER.

CAN YOU TAKE ROLL CALL? YES, SIR.

AARON RIVERA IS NOT PRESENT.

RICHARD GONZALEZ. PRESENT.

[CALL TO ORDER, ESTABLISH AQUORUM]

MARK MORAN PRESENT. DAVID SALAZAR PRESENT.

VERONICA GONZALEZ PRESENT.

GREGORY VAZQUEZ. WE HAVE QUORUM, SIR.

THANK YOU. NEXT PLEDGE OF ALLEGIANCE.

PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA.

AND TO THE REPUBLIC FOR WHICH IT STANDS.

ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR

[A. Pledge of Allegiance.]

RANDALL. YES, SIR. THIS MEETING WAS POSTED IN ACCORDANCE WITH OPEN MEETINGS ACT ON JULY 18TH, 2025 AT 5:00. THANK YOU.

ON TO ITEM NUMBER THREE.

DISCLOSURE OF CONFLICT OF INTEREST.

COUNCIL. YES, SIR. UNDER TEXAS LAW, CONFLICT OF INTEREST EXISTS WHEN A BOARD MEMBER OR CERTAIN MEMBERS OF THEIR FAMILY HAVE A QUALIFYING FINANCIAL INTEREST.

IN A MATTER BEFORE THIS, BOARD MEMBERS WITH CONFLICT SHOULD REFRAIN

[2. CERTIFICATION OF PUBLIC NOTICE]

[3. DISCLOSURE OF CONFLICT OF INTEREST]

ALL RIGHT. THANK YOU. NEXT UP, ITEM NUMBER FOUR.

PUBLIC COMMENT. SAM. OKAY.

NO PUBLIC COMMENTS. GUYS, BEFORE WE MOVE ON TO NUMBER FIVE, THE AGENDA ITEMS, TWO THINGS I'D LIKE TO JUST BRING UP.

NUMBER ONE, I'D LIKE TO WELCOME MISS KARINA LOPEZ.

OUR NEW EXECUTIVE ASSISTANT EXECUTIVE DIRECTOR TO THE EDINBURG TEAM.

YOU KNOW, WE'VE HEARD MANY, MANY GREAT THINGS ABOUT YOU, AND WE'RE VERY,

[4. PUBLIC COMMENTS]

SO WELCOME, WELCOME, WELCOME.

AND NUMBER TWO I WOULD LIKE JUST A VERY BRIEF MOMENT OF SILENCE FOR ONE OF OUR PAST BOARD MEMBERS WHO PASSED AWAY RECENTLY, AND MISS SABRINA HERNANDEZ.

I THINK EVERYTHING THAT COULD BE SAID ABOUT HER HAS BEEN SAID.

I MEAN, YOU COULD NOT HAVE MET A PERSON THAT EMBODIED WHAT A TRUE PUBLIC SERVANT WAS AND HER COMMITMENT TO HER COMMUNITY AND TO THE PEOPLE THAT SHE HELPED AND ALL THE LIVES THAT SHE TOUCHED. SHE TRULY WAS AN AMAZING PERSON, AND HER LEGACY WILL CONTINUE TO LIVE.

AND WE ARE VERY BLESSED TO HAVE HAD HER AS A PART OF THIS BOARD.

AND SO JUST A BRIEF MOMENT OF SILENCE.

THANK YOU. SO ON TO NUMBER FIVE A CONSIDER AND TAKE ACTION ON APPROVAL OF MINUTES FOR THE REGULAR BOARD MEETING HELD ON JULY 8TH, 2025.

YOU GUYS SHOULD HAVE PROBABLY ALREADY LOOKED AT THAT THROUGH YOUR BOARD PACKETS.

DO I HAVE A MOTION? SO MOVED.

SECOND. SECOND. ALL THOSE IN FAVOR TO APPROVE SAY AYE.

ALL THOSE OPPOSED? SAME SIGN.

MOTION PASSES. ON TO ITEM FIVE.

B PRESENTATION OF YEAR TO DATE FINANCIAL REPORT ENDING ON JUNE 30TH, 2025. YES, SIR. IN YOUR PACKET, YOU HAVE THE FINANCIALS.

THE FIRST PAGE IS THE BALANCE SHEET SHOWING A TOTAL OF $46,190,290 IN TOTAL ASSETS.

[5. AGENDA ITEMS]

[A. Consider and take action on approval of Minutes for the Regular Board meeting held on]

[B. Presentation of year-to-date Financial Report ending on June 30, 2025.]

$12.3 MILLION IN NET RECEIVABLES.

8.875. IN RECEIVABLES RESTRICTED CASH.

WE HAVE CASH AND CASH EQUIVALENTS OF ALMOST 790,009.6 MILLION IN INVESTMENTS.

ON THE LIABILITY SIDE, CURRENT LIABILITIES ARE AT 116,429 ARE RESTRICTED FUNDS. IN OUR FUND BALANCE, WE HAVE FOR CAPITAL PROJECTS 7.1 MILLION.

DEBT SERVICE 2.3. OTHER NOTE RECEIVABLES.

[00:05:03]

WE'VE SET ASIDE 8.3 MILLION AND AN UNRESTRICTED.

WE HAVE $11.5 MILLION.

THAT'S THE BALANCE SHEET.

ON THE NEXT PAGE YOU HAVE YOUR ACTIVITY REPORT WHICH SHOWS OUR MONTHLY BUDGETS AND WHERE WE'RE AT THROUGH THE END OF JUNE.

SO THAT LEAVES US BASICALLY ONE QUARTER LEFT.

SO WE'RE AT 75% OF OUR TOTAL REVENUES, WHICH IS WHERE WE SHOULD BE BECAUSE IT'S 75% OF OUR YEAR. SO WE'RE RIGHT ON TRACK IN OUR REVENUE SIDE.

ON OUR EXPENSE SIDE. IF YOU GO BACK DOWN TO THE BOTTOM WE'RE BASICALLY AT 60, 63% OF OUR TOTAL EXPENDITURES.

SO WE'RE WELL BELOW OUR BUDGET.

IN TERMS OF WHERE WE'RE AT AND WHERE WE'RE SUPPOSED TO BE BY THE END OF THE YEAR.

ADMINISTRATIVE EXPENSES ARE 35% BELOW.

WE'VE USED 35%. SO WE'RE 40% BELOW WHERE WE'RE SUPPOSED TO BE.

AND WE'RE ON TRACK TO TO HIT OUR NUMBERS THIS FISCAL YEAR.

ON THE OTHER PAGE, YOU HAVE YOUR CASH BALANCES AS OF JUNE 30TH, 2025, AGAIN, OUR UNRESTRICTED CASH ENDING BALANCE WAS $5.6 MILLION.

AND OUR RESTRICTED. WE HAVE KIND OF OUTLINED THEM ALREADY.

BUT WE HAVE A TOTAL OF $17.8 MILLION IN RESTRICTED CASH.

MOST OF THOSE ARE IN INTEREST BEARING ACCOUNTS WITH EITHER TEXAS OR THE LOCAL BANK.

SO ON THE FINAL PAGE OF THE THIS PORTION OF THE FINANCIALS WE HAVE A SUMMARY OF OUR SALES TAX REVENUES, AND IT SHOWS THAT WE'RE AT 19% ABOVE LAST YEAR.

SO DOING REALLY, REALLY WELL IN TERMS OF OUR REVENUES, WE HAD AN EXCELLENT MONTH THIS YEAR.

THIS PAST MONTH AT 6% GROWTH OVER LAST YEAR.

THE PREVIOUS MONTH, WE HAD A SUBSTANTIALLY EVEN HIGHER GROWTH AT 100%.

MUCH OF THAT WAS BECAUSE OF AN AUDIT THAT WAS CONDUCTED AT THE COMPTROLLER'S OFFICE, AND THEY WERE ABLE TO RECAPTURE SOME SALES TAX FROM OTHER TAXPAYERS.

THAT SHOULD HAVE BEEN COMING TO EDINBURGH. SO THAT'S A BIG PLUS FOR US.

THAT'S GOOD. AND THAT'S IT FOR MY FINANCIAL REPORT.

DOES ANYBODY HAVE ANY QUESTIONS FOR RODEL? OKAY.

WITH NO QUESTIONS WE MOVE ON TO ITEM FIVE C, WHICH IS CONSIDER AND TAKE ACTION ON RATIFICATION OF A SPONSORSHIP FOR THE 46TH ANNUAL IMUS COLLEGE GALA.

RODEL. SO THE IMUS COLLAGE IS HONORING JOHN SHARP ON SEPTEMBER 6TH.

[C. Consider and take action on ratification of a Sponsorship for the "46th Annual IMAS Collage Gala."]

SO I MADE THE EXECUTIVE DECISION AFTER POLLING YOU GUYS.

THAT WE NEEDED TO BE PRESENT BECAUSE A LOT OF OTHER PEOPLE ARE GOING TO BE THERE THAT MIGHT BE ABLE TO BENEFIT OUR BUSINESS DEVELOPMENT PROCESS.

SO WE ARE ASKING YOU ALL TO APPROVE RATIFICATION OF A $5,000 SPONSORSHIP FOR THE IMAS GALA. OKAY, THAT SOUNDS GOOD.

AND SO IT'S ALREADY BEEN PAID. NO, WE HAVE COMMITTED TO IT.

IT HAS NOT BEEN PAID. GOT YOU.

ALL RIGHT, GUYS ANY DISCUSSION ON THIS ITEM? NOPE. OKAY. DO I HAVE A MOTION TO APPROVE THE RATIFICATION OF THE $5,000 SPONSORSHIP FOR THE IMAS GALA? DO I HAVE A MOTION? SO MOVED. SECOND. SECOND.

ALL THOSE IN FAVOR, PLEASE RAISE YOUR HAND. OPPOSED? SAME SIGN. MOTION PASSES.

ON TO ITEM FIVE D CONSIDER AND TAKE ACTION ON APPROVAL OF A SPONSORSHIP FOR CASA OF HIDALGO COUNTY. SEQUENCE AND SADDLES EVENT.

CASA IS HAVING THEIR ANNUAL EVENT ON AUGUST 14TH.

[D. Consider and take action on approval of a Sponsorship for CASA of Hidalgo County, "Sequins & Saddles."]

THERE'S TWO SPONSORSHIPS THAT I WOULD ASK YOU TO CONSIDER.

THE $5,000 SPONSORSHIP IS FOR TWO RESERVE VIP SPONSORED TABLES FOR 20 GUESTS.

THE $3,000 IS FOR TEN GUESTS.

THE ONLY DIFFERENCE BETWEEN THOSE TWO LEVELS IS ASIDE FROM THAT, IS THAT ONE OF THE ADVERTISEMENTS IS A HALF PAGE.

THE OTHER ADVERTISEMENT IS A FULL PAGE.

CASA IS ONE OF THOSE ORGANIZATIONS THAT IS VERY WELL WORTH EVERY PENNY THAT THEY RAISE BECAUSE THEY'RE SUPPORTING A VERY GOOD CAUSE.

AND WE'RE ASKING THAT YOU ALL SPONSOR EITHER 3000 OR 5000 LEVEL BOARD.

WHAT DO YOU ALL THINK? WHAT IS YOUR RECOMMENDATION? MY RECOMMENDATION WOULD BE THE 3000 IS ENOUGH AT TEN GUESTS.

UNLESS SOMEBODY TELLS ME OTHERWISE, I THINK THAT WE CAN FILL THAT.

TABLE 20 IS KIND OF TOUGH TO FILL FROM TIME TO TIME.

I AGREE. OKAY, SO KNOWING THAT THE RECOMMENDATION IS AT 3000 SPONSORSHIP SPONSORSHIPS, SO DO I HAVE A MOTION TO APPROVE A 3000 SPONSORSHIP FOR THE CASA

[00:10:02]

ALL THOSE IN FAVOR, RAISE YOUR HAND. ALL THOSE OPPOSED? SAME SIGN. MOTION PASSES.

ON TO ITEM FIVE E. THIS WAS TO BE CONSIDERATION TO TAKE ACTION ON APPROVAL OF CONTRIBUTION FOR UTRGV ATHLETICS DEPARTMENT.

GUYS, AT THIS POINT, AFTER SPEAKING WITH RONALDO,

[E. Considerand take action on approval of Contribution for UTRGV Athletics Department.]

WE'VE GOT SOME THINGS THAT WE STILL NEED TO TO WORK OUT BETWEEN UTRGV ATHLETICS AND OURSELVES AND THE CITY.

AND I THINK THAT IT WOULD BE APPROPRIATE FOR US TO TABLE THIS ITEM TODAY SO THAT YOU GIVE US THE OPPORTUNITY TO, TO TALK TO, TO MYRA AND THAT CITY MANAGER LEVEL AND THEN TO GET THE FEEDBACK FROM THE CITY COUNCIL.

ALSO BECAUSE IT WAS A PRETTY LARGE AMOUNT, RIGHT, THAT NEED CITY APPROVAL. YEAH.

IT WAS THE REQUEST WAS $35,000.

OKAY. OKAY. I'LL MAKE A MOTION TO TABLE.

WELL, MARK, DID YOU HAVE ANY ANY QUESTION.

SO YEAH. SO THE QUESTION IS IT'S GOING FROM 20.

THE INITIAL WAS THE INITIAL ASK WAS AT 25.

AND THEN IT THIS IS ON TOP OF THE 25,000 THAT'S COMMITTED FOR THE REST OF THE ATHLETICS. SO IT WOULD BE A TOTAL OF 60,000.

OKAY. THAT'S RIGHT. THAT'S CORRECT. GOT IT.

OKAY. SO I HAVE A MOTION FROM BOARD MEMBERS.

DO I HAVE A SECOND? SECOND? ALL THOSE IN FAVOR, RAISE YOUR HAND. ALL THOSE OPPOSED? SAME SIGN. OKAY. MOTION TO TABLE PASSES ON TO ITEM SIX, EXECUTIVE SESSION. DO I HAVE A MOTION TO ENTER EXECUTIVE SESSION? SO MOVED. SECOND. ALL THOSE IN FAVOR, RAISE YOUR HAND.

OPPOSED? SAME SIGN. MOTION PASSES.

IT IS 541 AND WE ARE CLOSING OPEN GOING INTO EXECUTIVE SESSION.

[6. EXECUTIVE SESSION]

[01:36:45]

[01:36:49]

[01:36:57]

[01:37:18]

[01:37:20]

[01:37:24]

[01:37:27]

[01:37:35]

[01:37:43]

[7. OPEN SESSION]

[01:37:51]

[01:37:54]

[01:37:56]

[01:37:58]

[01:38:03]

[01:38:06]

[01:38:09]

[01:38:11]

WE. IT IS 708, AND WE ARE NOW ADJOURNED.

AND BEFORE YOU ALL LEAVE WE'D LIKE TO JUST TAKE A PHOTO WITH OUR NEW STAFF MEMBER AND

[8. ADJOURNMENT]