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2011 road‑repaving bond near closeout, committee told
Summary
Liaison reported the 2011 road repaving and street safety GO bond is effectively complete—99% encumbered/spent—and recommended moving the program to a tracker for final closeout.
The committee heard a brief liaison report that the 2011 Road Repaving and Street Safety GO bond is nearly closed out. The liaison said the program is about 99% encumbered and expended and recommended the program be moved to a tracker for final closeout and removed from future meeting agendas, except for exception reporting.
Why it matters: Closeout of older bond programs clears committee oversight capacity for active bonds and helps ensure final reporting and audits can be completed.
