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PMA reports cash‑flow MOA with RIDE and steel erection imminent for Mount Hope High School
Summary
PMA told the committee an MOA from RIDE allows reforecasting reimbursements, pending change orders will affect the next billing, contingency exposure remains ~20% (audio enhancements), and a $6.9M payment to Breit Builders was processed as part of early construction draws.
Nick Paul of PMA updated the Bristol Warren Regional School Committee on Oct. 14 on progress at the Mount Hope High School site and related cash‑flow items. He said the district received a memorandum of agreement from the Rhode Island Department of Education (RIDE) that breaks out five projects and provides the reimbursement framework; PMA intends to reforecast cash flow and reflect reimbursements in future reports. "Today, we received the MOA for RIDE, so we're gonna reforecast our cash flow based on that," Paul said.
Paul reported contingency exposure of about 20 percent related primarily to audio enhancement systems and noted several change orders (time‑and‑material items) have not yet appeared in the change log. PMA expects steel erection to begin immediately (within days) and reiterated milestone dates: Mount Hope High School phase 1 substantial completion targeted May 2027; phase 2 December 2027; other schools' substantial completion dates were listed for 2026–2027.
Finance staff later reported the first large draw related to the project had been paid to Breit Builders ($6,900,000) and that the bond/accounting entries will be reconciled after the next payment. Committee members asked for the MOA language and were told the district will present the MOA for formal committee approval and required resignatures at a future meeting.
No vote was required during the presentation itself; several related MOAs and budget transfers were approved later in the meeting (see "Votes at a glance").
