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Finance committee advances 2025 investment report; board accepts financial statements and routine bills
Summary
The finance committee recommended the 2025 investment/PARIS report for board consideration after a presentation by Maria Bruni; the board accepted the monthly financial reports (checking $712.69, savings $79,007.85 end balance) and approved listed bills including a $1,500 Pathstone fee.
The finance committee voted to recommend the 2025 investment and PARIS report to the full board after Executive Director Maria Bruni reviewed procurement entries and the agency’s investment policy.
Bruni walked the committee through the investment section of the PARIS packet and the procurement transactions that must be reported for payments over $5,000. She noted contractors who worked on agency projects and identified Matthew Davies as a contractor who has been paid in excess of $5,000 for rehab work; staff stated an approximate payment figure of $200,000 related to rehabs for the contractor.
The committee moved to recommend acceptance of the 2025 investment report and advanced the resolution to the full board, which carried on a subsequent voice vote.
Separately, Leonor presented the authority’s financial reports through 01/31/2026, reporting a checking balance of $712.69, savings ending balance of $79,007.85 and a current operating debt of $343,853.77; she reported limited activity for January. The board moved to accept the financial report as presented and approved routine bills and communications: City of Middletown account 43834 (interest payments related to rehab loans), a $10.45 balance for Jean Grillo (168 Linden Avenue), and a $1,500 fee for Pathstone related to homebuyer qualification services.
Why it matters: The investment report documents procurement and property-sale activity that affects the authority’s financial position; the monthly financial statements and bill approvals are routine but provide a snapshot of liquidity and near-term obligations.
What happens next: The recommended investment report will be on the full board agenda for final acceptance as part of the annual reporting process.
