The URL can be used to link to this page

Home My WebLink AboutDMCC Resolution No. 132-2022 (Approving 2023 DMCC Funding Request and Extension of Working Capital Loan)DESTINATION MEDICAL CENTER CORPORATION RESOLUTION NO. 132-2022 Approving the 2023 DMCC Funding Request and the Extension of Working Capital Loan and Authorizing Transmittal to the City of Rochester The following Resolution, as amended, was offered by James R. Campbell, seconded by Brooke Carlson. BACKGROUND RECITALS WHEREAS, the Destination Medical Center Corporation (“DMCC”) must adopt an annual Funding Request and Five Year Capital Plan. The DMCC Funding Request includes the DMCC annual budget, the Destination Medical Center Economic Development Agency (“EDA”) annual budget and work plan, and support costs incurred by the City of Rochester; and WHEREAS, on February 26, 2015, the DMCC adopted Resolution No. 26-2015, approving the form of and authorizing the Chair and Treasurer to execute, amend, and take other actions to implement the working capital loan documents to provide for advance funding of DMCC and EDA operations (collectively, the “Loan Documents”); and WHEREAS, the DMCC has completed the required annual reconciliation of the advances to the DMCC and the DMCC eligible expenses and has prepared a DMCC Request for Extension of the Working Capital Loan for 2023 in the amount of $1000, as such amount may be adjusted by the City pursuant to Section 2.8(c) of the Working Capital Loan Agreement (DMCC-City) effective April 1, 2014, as amended; and WHEREAS, the EDA has submitted an EDA Request for Extension of the Working Capital Loan for 2023, requesting that the Loan Documents be extended for 2023 in the amount of $100,000, as such amount may be adjusted by the City pursuant to Section 2.8(c) of the Working Capital Loan Agreement (DMCC-EDA), effective April 1, 2014, as amended, and has provided the required annual reconciliation of advances and eligible expenses paid from such advances; and WHEREAS, the DMCC and EDA Requests for Extension of the Working Capital Loan for 2023 are attached as Exhibit A. RESOLUTION NOW, THEREFORE, BE IT RESOLVED, by the Destination Medical Center Board of Directors that the 2023 DMCC Funding Request, and the Five Year Capital Plan, each on file with the DMCC, are approved. Further, the DMCC hereby approves the projects set forth in the first year of the Five Year Capital Plan as public infrastructure projects within the meaning of Minnesota Statutes Section 469.40, Subdivision 11, and consistent with the Development Plan, adopted on April 23, 2015, as amended; provided that 1) final approval of each of the capital projects will be subject to a later specific approval by the DMCC upon final determination of 2 scope, costs, and availability of funds; (2) for the Soldiers Field Memorial Park project, recognizing that community planning efforts are at a preliminary stage and will shape the project scope and funding needs, further detail and information as to public realm plans and proposed funding shall be presented to the DMCC for specific approval of the project plan and costs; and (3) staff is directed to provide an annual reconciliation of budget amounts and expenditures for each of the capital projects. BE IT FURTHER RESOLVED, the EDA Request for Extension of the Working Capital Loan for 2023, and the DMCC Request for Extension of the Working Capital Loan for 2023, attached as Exhibit A and on file with the DMCC, are approved. BE IT FURTHER RESOLVED, that the Chair and Treasurer are hereby authorized and directed to transmit this Resolution to the City of Rochester and to take such actions as are necessary or convenient to effectuate the 2023 DMCC Funding Request, the Five Year Capital Plan, and the extension of the Loan Documents, including, but not limited to, the authority to execute, deliver, and perform, in the name of and on behalf of the DMCC, the DMCC Request for Extension of the Working Capital Loan for 2023 and the Loan Documents to which the DMCC is a party, with such modifications, additions, deletions, or other changes as the Chair and Treasurer may deem necessary or appropriate to accomplish the requested extension, all which may be performed without further action of this Board. The question was on the adoption of the Resolution and there were 6 YEAS and 0 NAYS, as follows: BOARD OF DIRECTORS Destination Medical Center Corporation YEA NAY OTHER Douglas M. Baker, Jr. _____ _____ James R. Campbell X _____ _____ Brooke Carlson X _____ _____ Kim Norton _____ _____ R.T. Rybak X _____ _____ Mark Thein X _____ _____ Pamela Wheelock X _____ _____ Paul D. Williams X _____ _____ RESOLUTION ADOPTED on September 22, 2022. ATTEST: Pamela Wheelock, Chair Destination Medical Center Corporation 1421508-2.DOCX EXHIBIT A DMCC REQUEST FOR EXTENSION OF WORKING CAPITAL LOAN FOR 2023 To: City of Rochester, Minnesota (the “City”) 1. The undersigned authorized representative (the “Representative”) of the Destination Medical Center Corporation (“DMCC”) hereby authorizes and requests an extension of the Term of the Working Capital Loan Agreement (DMCC-City), dated April 30, 2015, as amended, by and between the City and the DMCC (the “Agreement”) and renewals of the DMCC Note and the EDA Note, in the amount and on the date specified below, in order to pay certain DMCC Eligible Expenses and to provide the EDA Tranche to pay certain EDA Eligible Expenses, pursuant to the terms and conditions of the Agreement. Capitalized terms not otherwise defined herein shall have the meanings given them in the Agreement. 2. The Representative certifies that (i) attached as Attachment 1 is a true and correct annual reconciliation of the DMCC Tranche Advances made through July 31, 2022 and the DMCC Eligible Expenses paid from such Advances, as required by Section 2.6 of the Agreement; (ii) each item for which the DMCC sought payment in Attachment 1 was a DMCC Eligible Expense; and (iii) the Advances received by the DMCC have not exceeded the limitations set out in Section 2.4(a) of the Agreement. 3. The Representative further certifies that attached as Attachment 2 is a true and correct copy of the EDA Request for Extension of the Working Capital Loan for 2023. 4. The DMCC hereby requests an extension of the Agreement Term and renewals of the DMCC Note and the EDA Note, in the amount of $1,000.00 as the DMCC Tranche Advance and in the amount of $100,000.00 as the EDA Tranche Advance, as such amounts may be adjusted by the City pursuant to Section 2.8(c) of the Agreement, for payment of DMCC Eligible Expenses and, as to the EDA Tranche, for payment of EDA Eligible Expenses. 5. The Representative further certifies that no portion of the amount requested in paragraph 4 above constitutes a DMCC Excess Request under Section 2.3 of the Agreement. 6. The Representative further certifies that this statement and all exhibits and attachments hereto, and documents furnished in connection herewith, shall be conclusive evidence of the facts and statements set forth herein and shall constitute full warrant, protection, and authority to the City for its actions taken pursuant hereto. Dated: ________________, 2022 Authorized DMCC Representative 1421509.DOCX ATTACHMENT 1: RECONCILIATION OF DMCC TRANCHE ADVANCES Through July 31, 2022 DMCC Bank Account Beginning Bank Balance DMCC Bank Charges Adjustments ‐ bank fees returned Adjustments ‐ change in amount Interest Earnings EDA Funding Requested Actual Funded Checks Difference Ending Bank Balance Reconciling Items Interest Bank Fees Net Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 1,000.00 1,000.00 899.11 132,376.26 1,000.00 1,000.00 41,434.72 1,000.00 1,000.00 1,000.00 1,025.00 2,092.05 103.73 100.89 100.38 103.27 105.25 101.64 107.35 102.20 104.41 102.97 102.33 105.37 67,168.37 202,359.66 123,757.71 245,339.70 138,532.99 197,583.02 124,274.44 99,827.54 81,252.89 185,546.12 275,718.98 107,463.28 67,272.10 202,359.66 255,335.24 115,366.71 138,638.24 242,619.38 83,947.07 101,529.74 81,357.30 185,674.09 294,171.36 109,986.65 1,300.00 4,500.00 1,600.00 17,283.00 1,092.05 103.73 ‐ 131,577.53 (131,272.99) 105.25 40,536.36 (40,327.37) 102.20 104.41 127.97 1,169.38 1,431.32 1,000.00 899.11 132,376.26 1,000.00 1,000.00 41,434.72 1,000.00 1,000.00 1,000.00 1,025.00 2,092.05 3,418.00 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 1,000.00 899.11 132,376.26 1,000.00 1,000.00 41,434.72 1,000.00 1,000.00 1,000.00 1,025.00 2,092.05 3,418.00 1,000.00 899.11 131,376.26 1,000.00 1,000.00 40,434.72 1,000.00 1,000.00 1,000.00 1,025.00 2,092.05 3,418.00 ending bank balance 0.00 0.00 1,000.00 0.00 0.00 1,000.00 0.00 0.00 0.00 0.00 0.00 0.00 2021 DtŽƌŬŝŶŐĂƉŝƚĂů>ŽĂŶ ĐĐŽƵŶƚZĞĐŽŶĐŝůŝĂƚŝŽŶ ϮϬϮϭͲϮϬϮϮ ATTACHMENT 1 A1-1 DMCC Bank Account Beginning Bank Balance DMCC Bank Charges Adjustments ‐ bank fees returned Adjustments ‐ change in amount Interest Earnings EDA Funding Requested Actual Funded Checks Difference Ending Bank Balance Reconciling Items Interest Bank Fees Net Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 3,418.00 895.04 898.36 1,000.00 1,000.00 4,000.00 3,875.14 7,125.40 7,125.40 7,125.40 7,125.40 7,125.40 104.96 101.64 99.22 106.95 101.59 101.30 105.98 0.31 1.75 182,223.73 137,024.29 270,117.73 100,925.97 113,020.45 169,491.52 220,595.40 179,805.73 137,129.25 270,318.59 101,032.92 116,122.04 172,631.44 226,824.89 3,163.79 2,875.00 (2,418.00) 104.96 200.86 106.95 3,101.59 (23.87) 3,354.49 ‐ ‐ ‐ ‐ ‐ 895.04 898.36 1,000.00 1,000.00 4,000.00 3,875.14 7,125.40 7,125.40 7,125.40 7,125.40 7,125.40 7,125.40 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 895.04 898.36 1,000.00 1,000.00 4,000.00 3,875.14 7,125.40 7,125.40 7,125.40 7,125.40 7,125.40 7,125.40 895.04 898.36 1,000.00 1,000.00 4,000.00 3,875.14 7,125.40 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) 7,125.40 7,125.40 7,125.40 7,125.40 7,125.40 2022 A1-2 ATTACHMENT 2: EDA REQUEST FOR EXTENSION OF THE WORKING CAPITAL LOAN FOR 2023 DESTINATION MEDICAL CENTER ECONOMIC DEVELOPMENT AGENCY Approving the 2023 DMC EDA Funding Request and the Extension of Working Capital Loan BACKGROUND RECITALS WHEREAS, the Destination Medical Center Corporation (“DMCC”) must adopt an annual Funding Request and Five Year Capital Plan. The DMCC Funding Request includes the DMCC annual budget, the Destination Medical Center Economic Development Agency (“EDA”) annual work plan and budget, and support costs incurred by the City of Rochester; and WHEREAS, the EDA has submitted an EDA Request for Extension of the Working Capital Loan, that the Loan Documents be extended for 2023 in the amount of $100,000, as such amount may be adjusted by the City pursuant to Section 2.8(c) of the Agreement, and has provided the required annual reconciliation of advances and eligible expenses paid from such advances. RESOLUTION NOW, THEREFORE, BE IT RESOLVED, by the Destination Medical Center Economic Development Agency Board of Directors that the 2023 EDA Funding Request and the EDA Request for Extension of the Working Capital Loan for 2023, are approved. __________________________________ Clark Otley, M.D. President Dated: September 1, 2022 A2-1 ATTACHMENT 2 A2-2 DMC EDA Operating Account Reconciliation of Bank Balance to Advance Total Bank Balance Date:8/31/2021 Balance per Bank:27,132.18$ Add: Advance in transit for expense cleared bank or expenses not yet requested- Receivable 1,123.77$ City - payroll 1/8 Receivable 1,067.19$ City - payroll 1/22 Receivable 1,088.77$ City - payroll 2/5 Receivable 1,067.20$ City - payroll 2/18 Receivable 1,088.77$ City - payroll 3/5 Receivable 1,067.19$ City - payroll 3/19 Receivable 1,123.77$ City - payroll 4/2 Receivable 1,067.12$ City - payroll 4/16 Receivable 970.19$ City - payroll 4/30 Receivable 1,096.26$ City - payroll 5/14 Receivable 1,065.46$ City - payroll 5/28 Receivable 1,086.99$ City - payroll 6/11 Receivable 1,065.45$ City - payroll 6/25 Receivable 1,219.11$ City - payroll 7/9 Receivable 1,162.58$ City - payroll 7/23 Receivable 1,184.11$ City - payroll 8/5 Payroll 8/19 75.00$ 245.76$ 6,242.15$ 16,047.26$ 2,599.03$ 25,209.20$ Mitel 518.79$ 8/20/2021 BlueCross BlueShield 3,640.35$ 8/23/2021 Less: Advance for expenses not cleared: Misc CCC (155.82)$ remaining credit card credit CCC 900.00$ 8/20/2021 CCC 14.00$ 8/23/2021 CCC 197.37$ 8/30/2021 Outstanding check Advance Total reconciled 75,000.00$ A2-3 EXHIBIT A: RECONCILIATION OF EDA ADVANCES Through July 31, 2022 DMC EDA Operating Account Reconciliation of Bank Balance to Advance Total Bank Balance Date:9/30/2021 Balance per Bank:29,067.06$ Add: Advance in transit for expense cleared bank or expenses not yet requested- Receivable 1,123.77$ City - payroll 1/8 Receivable 1,067.19$ City - payroll 1/22 Receivable 1,088.77$ City - payroll 2/5 Receivable 1,067.20$ City - payroll 2/18 Receivable 1,088.77$ City - payroll 3/5 Receivable 1,067.19$ City - payroll 3/19 Receivable 1,123.77$ City - payroll 4/2 Receivable 1,067.12$ City - payroll 4/16 Receivable 970.19$ City - payroll 4/30 Receivable 1,096.26$ City - payroll 5/14 Receivable 1,065.46$ City - payroll 5/28 Receivable 1,086.99$ City - payroll 6/11 Receivable 1,065.45$ City - payroll 6/25 Receivable 1,219.11$ City - payroll 7/9 Receivable 1,162.58$ City - payroll 7/23 Receivable 1,184.11$ City - payroll 8/5 Receivable 1,162.58$ City - payroll 8/20 Receivable 1,184.11$ City - payroll 9/3 Receivable 1,173.32$ City - payroll 9/17 Payroll 10/1 245.76$ 600.00$ 6,622.57$ 15,717.50$ 23,185.83$ Mitel 518.79$ 9/21/2021 BlueCross BlueShield 4,047.55$ 9/21/2021 Less: Advance for expenses not cleared: Misc CCC (155.82)$ remaining credit card credit CCC CCC To request:(369.88)$ 8/20 PR Credit Transfer (2,125.00)$ for McKnight checks Outstanding check (232.47)$ 9/1 Arnold's invoice Advance Total reconciled 75,000.00$ A2-4 DMC EDA Operating Account Reconciliation of Bank Balance to Advance Total Bank Balance Date:10/31/2021 Balance per Bank:44,606.66$ Add: Advance in transit for expense cleared bank or expenses not yet requested- Receivable 1,229.85$ City - payroll 10/1 Minnesota Trade 3,000.00$ Aon Insurance 123.00$ Check 259.50$ Check 66.36$ Payroll 10/15 75.00$ 245.76$ 6,470.96$ 15,384.32$ 2,646.30$ 24,822.34$ Payroll 10/29 75.00$ 245.76$ 10,052.02$ 21,877.56$ 32,250.34$ Mitel 519.79$ 10/20/2021 BlueCross BlueShield 3,843.95$ 10/21/2021 Less: Advance for expenses not cleared: Misc CCC (155.82)$ remaining credit card credit CCC 40.00$ 10/25/2021 CCC 3,763.91$ 10/27/2021 To request:(369.88)$ 8/20 PR Credit (40,000.00)$ cash flow 1,000.00$ check 5444 Advance Total reconciled 75,000.00$ A2-5 DMC EDA Operating Account Reconciliation of Bank Balance to Advance Total Bank Balance Date:11/30/2021 Balance per Bank:20,687.01$ Add: Advance in transit for expense cleared bank or expenses not yet requested- Receivable 1,229.85$ City - payroll 10/1 Receivable 1,173.32$ City - payroll 10/15 Receivable 1,067.32$ City - payroll 10/29 Receivable 1,194.85$ City - payroll 11/14 Payroll 11/25 75.00$ 245.76$ 10,674.76$ 24,269.07$ 2,261.69$ 37,526.28$ Amazon 36.74$ 11/15/2021 Amazon 5.93$ 11/15/2021 Mitel 519.79$ 11/23/2021 BlueCross BlueShield 11,114.54$ 11/23/2021 Less: Advance for expenses not cleared: Misc CCC (155.82)$ remaining credit card credit CCC Uncleared check (50.81)$ check 5445 Uncleared check (349.00)$ check 5450 To request:1,000.00$ check 5444 Advance Total reconciled 75,000.00$ A2-6 DMC EDA Operating Account Reconciliation of Bank Balance to Advance Total Bank Balance Date:12/31/2021 Balance per Bank:73,017.91$ Add: Advance in transit for expense cleared bank or expenses not yet requested- Payroll 12/24 221.15$ 245.76$ 12,610.01$ 26,542.26$ 3,803.99$ (1,173.31)$ 42,249.86$ Amazon 19.02$ 12/14/2021 Mitel 519.79$ 12/23/2021 BlueCross BlueShield 8,468.16$ 12/21/2021 Less: Advance for expenses not cleared: Misc CCC (155.82)$ remaining credit card credit Cash Flow (50,000.00)$ Uncleared check (118.92)$ Geno P check To request:1,000.00$ check 5444 Advance Total reconciled 75,000.00$ A2-7 DMC EDA Operating Account Reconciliation of Bank Balance to Advance Total Bank Balance Date:1/31/2022 Balance per Bank:41,321.16$ Add: Advance in transit for expense cleared bank or expenses not yet requested- Receivable Receivable 1,380.10$ Payroll Payroll 1/21 245.76$ 2,596.15$ 12,445.06$ 25,494.80$ 5,141.01$ 45,922.78$ Amazon 19.02$ 12/14/2021 Mitel 527.69$ 1/21/2022 BlueCross BlueShield 7,001.04$ 1/21/2022 Less: Advance for expenses not cleared: Misc CCC (155.82)$ remaining credit card credit CCC 33.00$ min pmt CCC 2,931.20$ Cash Flow (25,000.00)$ Cleared check 19.82$ To request:1,000.00$ check 5444 0.01$ 12/22 payroll rounding Advance Total reconciled 75,000.00$ A2-8 DMC EDA Operating Account Reconciliation of Bank Balance to Advance Total Bank Balance Date:2/28/2022 Balance per Bank:48,226.90$ Add: Advance in transit for expense cleared bank or expenses not yet requested- Receivable Receivable (1,360.16)$ Payroll Payroll 2/4 (5,311.36)$ Payroll Payroll 2/18 (4,862.35)$ Payroll Cleared check 66.99$ NSF fee 37.50$ 2/24/22 Payroll 2/4 245.76$ 2,221.15$ 13,006.82$ 26,516.81$ 5,141.01$ 47,131.55$ Payroll 2/18 245.76$ 2,221.15$ 12,538.52$ 25,916.89$ 5,194.17$ 46,116.49$ Payroll 2/24 30.60$ 184.70$ 215.30$ Mitel 527.69$ 1/21/2022 BlueCross BlueShield 7,001.04$ 1/21/2022 Mitel 527.69$ 2/22/2022 BlueCross BlueShield 11,826.54$ 2/22/2022 Less: Advance for expenses not cleared: Misc CCC (155.82)$ remaining credit card credit CCC 12.00$ min pmt Cash Flow (25,000.00)$ 1/7/2022 Cash Flow (50,000.00)$ 2/24/2022 Advance Total reconciled 75,000.00$ A2-9 DMC EDA Operating Account Reconciliation of Bank Balance to Advance Total Bank Balance Date:3/31/2022 Balance per Bank:60,417.90$ Add: Advance in transit for expense cleared bank or expenses not yet requested- Receivable Payroll 4/1 (5,068.19)$ Payroll Payroll 4/1 230.76$ 2,096.15$ 13,616.10$ 27,689.29$ -$ 43,632.30$ Mitel 527.69$ 3/22/2022 BlueCross BlueShield 8,609.54$ 3/22/2022 Less: Advance for expenses not cleared: Misc CCC (155.82)$ remaining credit card credit CCC (6,509.14)$ Cash Flow (25,000.00)$ 1/7/2022 Outstanding checks (1,221.81)$ Outstanding checks (232.47)$ Advance Total reconciled 75,000.00$ A2-10 DMC EDA Operating Account Reconciliation of Bank Balance to Advance Total Bank Balance Date:4/30/2022 Balance per Bank:59,883.65$ Add: Advance in transit for expense cleared bank or expenses not yet requested- Receivable Payroll 4/29 (4,682.36)$ Payroll Payroll 4/29 221.15$ 230.76$ 13,667.22$ 27,766.47$ 41,885.60$ Mitel 527.25$ 4/20/2022 BlueCross BlueShield 8,609.54$ 4/21/2022 Check 259.38$ Less: Advance for expenses not cleared: Misc CCC (155.82)$ remaining credit card credit CCC (1,417.31)$ Outstanding checks (102.52)$ 4/1/22 #5464 Outstanding checks (232.47)$ 4/27/22 #5465 Outstanding checks (1,260.74)$ 4/27/22 #5466 Outstanding checks (89.00)$ 4/27/22 #5467 Outstanding checks (3,225.20)$ 4/27/22 #5468 Advance Total reconciled 100,000.00$ A2-11 DMC EDA Operating Account Reconciliation of Bank Balance to Advance Total Bank Balance Date:5/31/2022 Balance per Bank:18,240.58$ Add: Advance in transit for expense cleared bank or expenses not yet requested- Receivable Payroll (4,986.22)$ 5/13/2022 Payroll (4,856.35)$ 5/27/2022 Payroll 5/13 221.15$ 230.76$ 15,632.05$ 29,238.73$ 6,003.93$ 51,326.62$ Payroll 5/27 221.15$ 245.76$ 14,199.59$ 28,645.07$ 5,415.43$ 48,727.00$ Mitel 525.39$ 5/20/2022 BlueCross BlueShield 8,609.54$ 5/23/2022 Check cleared 259.38$ Lincoln Nation 224.17$ 5/3/2022 Check cleared 1,970.01$ #5471 Check cleared 232.47$ #5472 Check cleared 1,260.74$ #5473 Check cleared 315.50$ Check cleared 319.00$ Check cleared 34.24$ Less: Advance for expenses not cleared: Misc CCC (155.82)$ remaining credit card credit CCC 34.00$ min pmt CCC 1,144.95$ 5/1/2722 Cash Flow (20,000.00)$ Outstanding checks (3,225.20)$ 4/27/22 #5468 Advance Total reconciled 100,000.00$ A2-12 DMC EDA Operating Account Reconciliation of Bank Balance to Advance Total Bank Balance Date:6/30/2022 Balance per Bank:18,205.22$ Add: Advance in transit for expense cleared bank or expenses not yet requested- Receivable Payroll 6/10 (4,986.22)$ Payroll Payroll 6/10 221.15$ 395.76$ 13,772.27$ 27,769.89$ 5,415.43$ 47,574.50$ Payroll 6/24 221.15$ 245.76$ 13,801.90$ 28,319.99$ 5,415.43$ 48,004.23$ Mitel 525.39$ 6/22/2022 BlueCross BlueShield 8,609.54$ 6/21/2022 Refund posted (8.64)$ Amazon Lincoln Nation 352.31$ 6/2/2022 Check cleared 319.00$ 5/17/2022 Check cleared 232.47$ #5476 Check cleared 1,260.74$ #5477 Check cleared 85.85$ 6/8 Amazon Check cleared 16.95$ 6/9 Amazon Less: Advance for expenses not cleared: Misc CCC (155.82)$ remaining credit card credit CCC 67.00$ min pmt Cash Flow (20,000.00)$ Outstanding checks (102.52)$ Ck to Aon Advance Total reconciled 100,000.00$ A2-13 DMC EDA Operating Account Reconciliation of Bank Balance to Advance Total Bank Balance Date:7/31/2022 Balance per Bank:123,134.82$ Add: Advance in transit for expense cleared bank or expenses not yet requested- Receivable: Payroll Payroll -$ Mitel BlueCross BlueShield 8,609.54$ 7/21/2022 Check cleared 319.00$ 5/17/2022 Less: Advance for expenses not cleared: Misc CCC (155.82)$ remaining credit card credit CCC 37.00$ min pmt CCC (6,213.59)$ Cash Flow (20,000.00)$ Outstanding checks (129.22)$ Allison Bowman Outstanding checks (102.52)$ Smith Schafer Outstanding checks (901.76)$ Data Smart Outstanding checks (919.05)$ Data Smart Outstanding checks (232.47)$ Arnold's Outstanding checks (89.42)$ Aon Outstanding checks (3,356.51)$ Mike Flynn Advance Total reconciled 100,000.00$ A2-14