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District finance update: claims, balances and bond anticipation note payment
Summary
Claims totaling $115,047.94 were approved, including a late Citco invoice for $2,814.11; staff reported year‑end balances across Rolling Prairie, Toll Road and construction funds and noted a $502,226 payment for interest on a bond anticipation note.
At the Jan. 27 meeting the LaPorte County Regional Sewer and Water District Board approved the claims package and heard a finance update from Steve Carter.
Carter reported a late Citco invoice for odor‑control chemicals totaling $2,814.11 and said it was included in the total claims to be approved: $115,047.94. The board moved, seconded and approved the claims by voice vote.
Year‑end balances reported included Rolling Prairie with $414,936.53 (about $391,009.27 in the Horizon checking operating fund, $16,190 in a Bank of New York Debt Service Reserve Fund and $6,818 in a bond interest account). The Toll Road ended the year with $228,410.49, and staff noted two December receipts from the Toll Road totaling $68,007.17.
Carter said interest income is declining as project funds are spent and noted the district made a $502,226 payment in December for interest on a bond anticipation note that covered prior years. He also described construction spending (about $210,000) and engineering fees (about $53,480) during the reporting period and said project pay requests would be reimbursed through SRF at the next closing.
Board members asked staff to review earmarked SRF funds for legal and other fees to confirm whether remaining earmarks had been used. Staff said they would check and report back. The board approved the claims and directed staff to submit the reconciled statements into the gateway for final processing.
The board will review budget planning for 2026 at an upcoming finance committee meeting; members appointed to that committee include Marcela Kuenstag, Amanda Laners and Mark Danielson.
