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Public works director explains small reallocations in bond capital lists; council moves Resolutions 8 and 9 to full council
Summary
Public Works Director Stephen Campbell detailed reallocations within Series 2018 and 2022 bond capital to shift modest remaining balances (including roughly $9,500 from an Oyster Point project) into emergency water projects and to make water meters capital-eligible; council voted to forward Resolutions 8 and 9 to the Jan. 13 full meeting.
Public Works Director Stephen Campbell told the finance committee on Jan. 6 that two administrative resolutions seek to reallocate remaining bond funds so the city can continue work on other water and transmission projects and take advantage of lower-cost capital for meter replacement.
About Resolution 8 (Series 2018), Campbell said "approximately $9,500 was not spent on the Oyster Point 42 inches main" and that the department proposes transferring that balance into a special and emergency water projects line, bringing the total remaining balance to $695,124.
On Resolution 9, Campbell outlined four projects with remaining 2025 balances (including $958,123 for a phase-3 transmission/distribution line and $507,706 for pipe and valves). He said the city needs to reclassify $130,000 to capital for a water-meter replacement program so the work can be financed through lower-interest borrowing such as Penvest. Campbell also said the Conestoga ceramic-membrane upgrade experienced cost increases and delays that added approximately $178,052 to the project’s cost; he described drawing on unspent balances across the projects to cover that increase.
Councilors asked clarifying questions about why the transfers are needed and why meters are being made capital-eligible. Campbell said capital recognition allows access to longer-term borrowing and grant opportunities and keeps the expense off operating (general fund) dollars.
Councilor Hirsch moved that Resolutions 8 and 9 be forwarded together to the Jan. 13 full meeting; the motion was seconded and the committee voted in favor.
