Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Bond topic
No spam. Unsubscribe anytime.
Board reports favorable BAN sale, approves consent agenda and moves forward on reserves and capital work
Summary
The board received finance and audit updates including a $30.5 million bond anticipation note sale at a net interest cost of about 2.644%, approved multiple consent agenda items and discussed creating a $593,000 tax certiorari reserve for assessment year 2025.
Pelham board members heard updates on audit and finance at the June 24 meeting and approved routine business as a consent agenda, while discussing reserve funding and capital planning.
Board member Jim reported the audit committee met and external audit field work began; auditors will return in two weeks to conduct the end‑of‑year audit. He described recent Governmental Accounting Standards Board pronouncements affecting management discussion and analysis and budgetary comparison disclosures.
Jim also summarized the district’s bond anticipation note (BAN) sale tied to capital work: "a $30.5 million with a net interest cost of about 2.644%," he said, describing favorable market results compared with earlier estimates.
The board approved the next year’s meeting schedule and multiple consent agenda packages (items 5.2–5.15), waved third readings and approved second‑reading policy actions where appropriate, and adopted superintendent personnel recommendations and personnel services items as submitted.
Finance discussion also covered establishing a tax certiorari reserve for assessment year 2025 (approximately $593,000) to cover potential commercial assessment appeals; board members said the final fund allocations will be set after audit work completes and recommended following attorney guidance on likely liabilities.
Separately, the board heard that a $1.3 million security camera grant from Senator Biaggi will fund expanded camera coverage and controls; construction and bidding details for capital projects (asbestos abatement pre‑notifications and window work) will proceed over the summer with SHPO comments under review for historic building connections.
