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City of Centerville <br />EDA Meeting Minutes <br /> May 17, 2023 <br />IX. NEW BUSINESS <br />1.Draft 2024 Budget <br />Executive Director Lewis introduced this item, reviewing the known daily operating expenditures; <br />discussion ensued about adding a line item for contribution to an opportunity fund (monies set <br />aside to pay for larger expenditures not included in the operating budget). The final budget, in the <br />amount of $40,000 will be presented to the EDA in June for their approval. <br />2.Money Market Checking Account <br />Executive Director Lewis introduced this item as presented in the packet. Discussion ensued about <br />interest rates, account limitations, and the amount to deposit into an account. Staff will research <br />check writing capabilities and overdraft protection on the money market accounts and provide this <br />information to the EDA in June. <br />The item was tabled and will be discussed further in June. <br />Motion by President Remillard, seconded by Commissioner Mosher to table the discussion <br />on money market accounts until June. All in favor. Motion carried. <br />X. ADJOURNMENT <br />Motion by Commissioner Swenson, seconded by Commissioner Smith to adjourn the May <br />17, 2023, Economic Development Authority meeting at 8:10 p.m. All in favor. Motion <br />carried. <br />3 <br /> <br />