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Authority approves October expenditures, reduces Spring Creek Farm bond and reports delinquent accounts
Summary
The board approved October payments across accounts totaling six-figure sums, approved a $87,570.50 bond reduction for Spring Creek Farm Phase II, and heard that 19 accounts were turned over to outside collections.
The Silver Spring Township Authority on Oct. 16 approved monthly expenditures across multiple accounts, authorized a bond reduction for a subdivision project and heard a collections update from staff.
On a motion by Darrell McMillan seconded by Ronald Secary the board approved October disbursements: Sewer Revenue Account payments of $431,437.77 (which include $766.73 in Township MS4 stormwater fees transferred to the township), Capital Reserve Account payments of $547,979.21, Developers' Account payments of $2,513.22 and Township Developers' Account bills forwarded for payment of $243.00. The minutes record the motion carried.
Authority Manager James Stevens reported that staff had turned 19 accounts over to JSDC (James, Smith, Dietterick & Connelly, LLP) as part of ongoing delinquent‑account collection activity. The minutes list the current delinquent counts by collection step: 20 at Step 1; 18 at Step 2; 2 at Steps 3 and 4; 1 in forbearance; 2 pending sheriff sale; and 1 bankruptcy.
The board also approved Bond Reduction #2 for the Spring Creek Farm Phase II subdivision on a McMillan-Lenker motion, reducing the surety by $87,570.50 and leaving a bond balance of $4,620.00.
Why it matters: Monthly disbursements and bond surety adjustments affect the Authority’s cash position and the financial guarantees associated with local development. The delinquency figures indicate continued collection activity and several accounts progressing toward legal remedies.
Procedural record: Each of these actions was recorded as carried in the minutes. The minutes and attached memo provide line‑item figures and show the Authority maintaining routine financial oversight at the meeting.
