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d) Maintain the organizational and operational requirements set <br /> forth in these administrative guidelines <br /> Disclosure of:I nfo ation <br /> . <br /> _............................................................................................................................. <br /> On a loan application, no recommendation of any individual, <br /> (including a loan officer, city staff person or EDA board member) <br /> may be divulged directly or indirectly to an applicant, or to any of <br /> its representatives or any other unauthorized source. Only final <br /> EDA actions may be released. <br /> Diversified Portfolio <br /> The EDA will not concentrate the Seed Fund in any one type of <br /> industry. The EDA is encouraged to make loans to a variety of <br /> businesses in different industries. The Oakdale Seed Fund is <br /> designed primarily to assist existing healthy businesses to grow <br /> and create jobs. While new businesses (businesses in existence for <br /> less than two years) do create jobs, they should be considered for <br /> Seed Fund financing only after careful scrutiny as to management <br /> capability, experience, and financial support. <br /> Place of Business The EDA shall maintain an accessible place of business open to <br /> the public during regular business hours and maintain staff <br /> adequate to perform normal business transactions. The EDA's <br /> place of business shall be located within the Community <br /> Development Department of the Oakdale City Hall. <br /> Fiscal Year The EDA shall choose and establish a fiscal year. The EDA is <br /> encouraged to establish a fiscal year which coincides with the <br /> City's fiscal year(January 1 through December 31). <br /> Records The EDA shall maintain financial records including books of <br /> accounts and minutes of all meetings of the directors. All records <br /> and supporting documents relating to the FDA's transactions shall <br /> be kept at its' principal office. Records and documents which are <br /> the basis for or related to the financial statements or loans shall be <br /> preserved for the periods required by the Internal Revenue Service <br /> (IRS) in accordance with generally accepted accounting practices. <br /> Maintaining <br /> Loan Portfolio <br /> Documents The EDA shall develop a filing and control system which ensures <br /> that the following information and documents relating to its loan <br /> portfolio are available at its principal office. The EDA filing <br /> 58 <br />