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Staff reports progress on bond program: closeouts improving, contingencies narrowing for 2019 referendum; 2023 projects underway
Summary
Bond program staff reported project closeouts improved from 30 to 25, contingency savings in November of about $879,000, and that 2019 referendum expenditures remain close to budget with ~$2.2M available. Updates on 2023 referendum projects and cash‑flow modeling were provided; staff said they will remodel cash flows based on contractor burn rates.
Bond program staff updated the committee on progress related to both the 2019 and 2023 bond referendums.
For the 2019 referendum, staff said remaining project closeouts decreased from 30 to 25 and reported paid and committed funds near $373.46 million against a $375.7 million budget, leaving roughly $2.2 million available. November contingency…
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