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Downingtown Area SD discusses reimbursement resolution for Beavercreek and West Bradford projects
Summary
Superintendent Dr. O'Donnell and district finance staff described a reimbursement resolution that would allow the district to use capital reserves for Beavercreek and West Bradford projects and later reimburse those reserves from a future bond, with a not-to-exceed figure of $20 million listed.
Superintendent Dr. Matthew O'Donnell told the Downingtown Area School District Committee of the Whole that the board has on its agenda a proposed reimbursement resolution to allow the district to use capital reserve funds now for work at Beavercreek and West Bradford and reimburse those reserves from a future bond issue.
“The first relates to a proposed reimbursement resolution, which is on your agenda,” Dr. O'Donnell said. He told the committee the measure is an administrative step to document an intent to reimburse recent and upcoming capital expenditures for the…
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