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Finance update: delinquent-tax collections, bond rating and grant/MOU items presented to board
Summary
Finance director Wright reported delinquent real-estate tax collections early in the year and outlined efforts to preserve the district’s S&P rating ahead of a $45 million borrowing; Dr. Perry presented MOUs with the Allegheny Intermediate Unit and Title I nonpublic agreements and requested approval for staff to attend an Apple briefing (registrations paid by Apple; district covers travel).
Finance director Wright told the committee that delinquent real-estate collections are underway for the fiscal year and cited a budget figure of about $1,147,000 for delinquent-tax collections; he reported $275,006.65 collected so far and emphasized that maintaining a stable S&P rating matters for future borrowing costs.
"Doing this big deal of 45,000,000 and keeping that S and P rating at a stable is huge," Wright said, describing ongoing communications with rating agencies tied to the larger borrowing plan.
Dr. Perry asked the board to approve a memorandum of understanding with the Allegheny Intermediate Unit to coordinate Head Start transition services, student records and enrollment support, and to renew the district’s Title I nonpublic-school agreement with the AIU to provide services to district students who attend nonpublic schools.
Dr. Perry also presented requests for staff to attend an Apple executive briefing in Cupertino, Calif., as part of an Apple user group; the transcript notes Apple covers registration and some meals, while district funds would cover flights and related travel costs for district staff.
No formal votes on the bond-related borrowing plan or the MOU were recorded in the transcript excerpt provided.
