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Holly Hills board ratifies $87,879.14 in payables, accepts unaudited financials and weighs funding options
Summary
The Holly Hills Water and Sanitation District board unanimously ratified $87,879.14 in payables, accepted unaudited financial statements for Jan. 31, 2025, and directed staff to pursue funding analyses and outreach ahead of potential ballot measures.
The Holly Hills Water and Sanitation District Board unanimously ratified $87,879.14 in accounts payable and accepted the district’s unaudited financial statements for the period ending Jan. 31, 2025.
At the Feb. 19 meeting, Mike Bakarich of Moraine Bakarich CPAs reviewed the payables list and told the board that a payment to Lucky Dog Construction from the Capital Project Fund totaled $67,200, with $15,000 to be held back until the contractor completes work to the district’s satisfaction. After that retention, Bakarich said, the total payable balance was $87,879.14. Director Scott Kemmeries moved to ratify the amended payables, Director Thomas Thomasson seconded, and the board voted unanimously to approve the payment list as amended.
Bakarich also presented unaudited financial statements for the period ending Jan. 31, 2025. Director Thomasson moved to accept the statements; Director Linda Rhea seconded and the board accepted them by unanimous vote.
Beyond routine approvals, the board discussed several funding approaches to support capital improvements. The directors considered raising fees, issuing debt, or a combination of the two. Attorney Timothy J. Flynn said he would invite an underwriter to the next meeting to explain the bond process and answer board questions. Bakarich will run revenue models to estimate proceeds from a proposed facility renovation fee under multiple scenarios. The board asked staff to develop a communication plan to inform residents before presenting any ballot initiative.
The board conducted votes on the agenda, previous minutes and financial items by roll-call motions; the record shows all directors voting in favor. The meeting was adjourned following the financial business.
Next steps: the district will model fee and revenue scenarios, host an underwriter at a future meeting to explain debt issuance, and pursue a resident communication plan before any ballot measure is presented.
