Finance staff: audit draft expected soon; DWSRF application submitted and short-term loan planned
Finance staff reported they expect an audit draft from RHR soon, submitted a Drinking Water State Revolving Fund (DWSRF) capacity review to the Maine Municipal Bond Bank, and described a short-term bank loan (BAN) to bridge Surrey Road project funding until DWSRF approval; staff said all major bank accounts were reconciled through June.
The full story
Finance staff told the council they had submitted the capacity review portion of the Drinking Water State Revolving Fund (DWSRF) application to the Maine Municipal Bond Bank and expected final loan approval at the bank’s August meeting. Nate, staff member, said, “They have everything they need. We are going to get the the loan. It we were hoping to get it in July. It looks like it's gonna be, set for August.”
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