In a large bowl combine all the meatball ingredients (excluding olive oil) and mix well.
Form the meatballs into small 1 inch balls.
Heat the olive oil in a large skillet over medium heat. Add the meatballs and fry until they brown all around, about 7 minutes. You will have to do this in 2 or 3 batches, so do not overcrowd the meatballs.
Transfer the meatballs onto a plate and set aside.
In the same skillet melt the butter. Add the flour and whisk to form a roux, cook for about 1 minute to get rid of the raw flour taste. Add the milk and whisk until smooth. Cook for another minute, the mixture should thicken a bit.
Reduce the heat to low and add the cheeses and whisk well until smooth. Taste for seasoning and adjust with salt and pepper as necessary. Turn off the heat.
Add the meatballs back to the skillet and spoon some of the sauce over the meatballs. Garnish with parsley if preferred. Serve warm.
This recipe will yield 25 to 30 meatballs.
Baking directions: Coat a baking sheet with cooking spray, or use a baking rack. Bake at 375 F for 30 minutes until golden brown. Follow the rest of the instructions for making the cheese sauce.
To freeze the meatballs, let them cool completely at room temperature. Transfer them to a freezer safe container and place them in the freezer for up to 2 months. Freeze sauce separately in an air-tight container or a heavy-duty freezer bag and can last for a few months.
Refrigerate leftovers in an airtight container for up to 3 or 4 days.
Nutritional information is for 5 meatballs and 1/6 of the sauce. Please keep in mind that nutritional information is a rough estimate and can vary greatly based on products used.