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Trustees renew annual policies, award supply bids and authorize GASB‑75 valuation contract
Summary
The board approved routine annual policy renewals (investment, procurement, financial institution, standardization), authorized multiple supply bid awards, renewed commercial Wi‑Fi agreements for public sites and approved a contract for a post‑retirement benefits valuation under GASB 75.
At a meeting of the Village of Valley Stream Board of Trustees, trustees approved a series of routine administrative items: renewal of the annual village investment policy and three related policies (financial institution, procurement and standardization), award of multiple bids for road/building materials and supplies, renewal of commercial access Wi‑Fi agreements at Barrick Park, Village Hall (including the dog park and Village Green) and the library, and authorization of a contract to complete the village’s post‑retirement welfare‑benefits valuation under Governmental Accounting Standards Board Statement No. 75 (GASB 75).
Village Treasurer Michael presented the valuation request, saying the full valuation is required every three years with interim updates and that the board has used the same vendor. "This is part of our ongoing GASB 75 requirements. We have to have a full valuation done every 3 years with updates in between. This is the same company we use," Michael said. He told trustees the price increased by about $100 from the full valuation three years ago.
Trustees also considered renewal of a set of routine policies; Michael said there were no substantive changes in the documents provided in the packet. The board approved awards for four categories of supplies: road and building materials; miscellaneous steel and aluminum materials; assorted lumber and building materials; and assorted grounds‑keeping parts and materials. The board placed the Wi‑Fi renewals on the record for the contract period noted in the packet (07/21/2025–07/20/2026).
The board discussed summer‑fest and fireworks donations and agreed to hold that resolution so later donations can be added; trustees noted they could adopt a resolution in June that would capture donations received to that date or leave the donations register open to add contributions and pass a subsequent resolution.
These items were presented as routine annual housekeeping and procurement actions; trustees recorded motions and approvals for the items in sequence and moved on to the traffic and zoning items later in the meeting.
