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Board hears referendum closeout: projects completed under budget, $3.2M in added work reported
Summary
Building & Grounds reported the 2022 referendum projects were completed and delivered at a total reported cost of about $25.32 million, including $3.198 million in approved alternates and unforeseen work; bond interest income of roughly $1.256 million and $79,785 in energy rebates were noted, and the board plans to move $100,000 into fund 46 for future capital improvements.
At the meeting the Building & Grounds committee provided a closeout report for the 2022 referendum projects. The committee reported that the projects originally budgeted at $24,766,500 were completed and delivered with a reported core cost of $22,119,928 plus roughly $3,198,000 in alternates and additional work approved during construction, for a reported total of $25,318,464.70.
Committee members said the district timed bond issuances advantageously and earned about $1,256,000 in interest on bond proceeds; Focus on Energy rebates of $79,785 were also received, and the committee estimated a remaining balance of about $17,837 after final invoices are paid. The committee recommended transferring $100,000 into fund 46 for future capital improvements to raise that fund balance to approximately $450,000.
Board members praised the timing and delivery, saying the district completed the referendum work and captured financial benefits. The report noted that ESSER dollars were not used for capital projects and that the district was able to include alternates and some unforeseen items while remaining fiscally responsible.
The report was presented for the board’s information during committee reports; the board did not take additional action beyond acknowledging the closeout and the planned fund transfer.
