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Committee reviews finance items including $9M transfer for Project 2, security contract and electricity reverse‑auction approach
Summary
Administrators recommended transfers totaling $9,000,000 to capital projects for Project 2, previewed a $5.6M summer 2027 capital authorization, proposed a Securitas security contract, and heard a presentation on using a reverse auction to procure electricity supply with options for 0/50/100% renewables.
The committee reviewed an array of finance and procurement items, including large fund transfers for Project 2, a security contract with Securitas, summer capital work and a proposed electricity reverse auction.
Staff recommended transfers to cover Project 2 bills: $9,000,000 moved from the education fund and $5.1 million from operations and maintenance to the capital projects fund. The presenter said these transfers follow the previously approved funding plan and are timing‑driven rather than adding new dollars.
On security, staff recommended awarding a contract to Securitas that includes technology integration and a one‑time setup fee plus annual monitoring fees; staff said the contract is budgeted and expected to improve building security and monitoring.
Staff also previewed summer 2027 capital projects with an all‑in estimate just under $5.6 million to cover construction, architectural and soft costs focused on accessibility, sustainability and routine upkeep. The presenter said the work is separate from larger Act 3 planning and should be completed before any Act 3 construction begins.
On energy procurement, Michael DeCagliou of Nenea Energy explained reverse‑auction procurement that allows suppliers to bid down rates during a timed event. He presented indicative pricing and recommended preapproval thresholds so administration can act if the auction returns rates below those indicators. DeCagliou said auctions have returned rates about 7.2% below closed RFPs in a prior auction and outlined options to lock supply with 0%, 50% or 100% renewable energy content.
Committee members asked about the timing of transfers, the scope of security technology integration, and likely contract terms from a reverse auction; staff said transfers adhere to the capital funding plan, Securitas was selected for enhanced services and administration will decide auction term lengths (commonly three to five years) if the auction returns favorable rates.
