Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Ashland CPC outlines cash‑flow plan, proposes $4 million CD and to investigate paying off $800,000 bond
Summary
The committee endorsed a cash‑management plan including a proposed $4 million certificate of deposit starting April 1 while retaining over $4 million in free cash; staff will evaluate whether to pay off the remaining $800,000 Warren Woods bond if current interest exceeds 4%.
Aaron Ladd reported on the Community Preservation Committee’s cash flow and bond obligations on Feb. 17, proposing a $4,000,000 certificate of deposit to begin April 1 while keeping more than $4,000,000 in free cash available for projects. Ladd said a prior $2,000,000 CD had yielded more than $90,000 in interest over the last year, and the committee agreed the proposed CD was suitable for revenue planning.
Ladd also reviewed four upcoming bond payments: the Valentine Project (not eligible for early payoff), the High School Project (one remaining payment of $284,000 in FY27), Oak Street (final payment in FY28) and Warren Woods (final payment in FY32). He noted the remaining Warren Woods principal was about $800,000 and asked staff to investigate whether the bond’s current interest rate exceeds 4%; if so, the committee suggested staff explore paying off the balance with free cash for consideration at Fall Town Meeting.
The committee approved the cash‑flow approach in discussion and requested staff follow up on the Warren Woods payoff question.
