Board approves $478,000 transfer of unexpended bond funds for Melissa Jones School renovations

The Guilford Board of Finance voted to transfer $478,000 in unexpended bond authorizations to cover renovations at Melissa Jones School, citing an emergency need and higher bid results than earlier estimates.

Finance committee member Mary Jane said the project was advanced after an emergency—broken pipes—that required prompt action and that Cliff Gernham had presented the bid award to the Board of Selectmen earlier in the day. "He reported that it was an emergency because of some broken pipes," Mary Jane said, explaining the timing and the estimate methodology used when engineering was not complete.

Board members were told the money comes from previously authorized bond lines that remain open; bond counsel recommended a formal transfer because the projects (for example, elevator upgrades versus window/door replacements) differ in scope. Mary Jane said some authorized line items had come in under budget (the elevator upgrade and window/door replacements), leaving partial balances to be reallocated to cover overages on other capital authorizations.

Board members asked about how long older authorizations are kept open and whether the town had borrowed against those authorizations; staff said the authorizations have not been taken to market and that the practice is to close them when practical but to keep them available for related small projects. No member objected to the transfer; the motion passed by voice vote.

Next steps: the finance office will process the formal transfer consistent with the finance director's memo dated June 12, 2026, and staff said they will continue to monitor remaining authorizations and close them when feasible.