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BET committee votes to become standing committee; full BET approval required
Summary
The Debt & Fund Balance Policy Committee voted 4-0 to establish itself as a standing committee of the Board of Estimate & Taxation, with members citing the group's role in long-term capital planning; the change is subject to approval by the full BET.
The Debt & Fund Balance Policy Committee voted unanimously June 17 to establish itself as a standing committee of the Board of Estimate & Taxation, subject to approval by the full BET.
At the meeting, Stephen Selbst moved to establish the committee and Sally Bednar seconded; the motion passed 4-0. Chair Elliot Alchek said members spoke in support of the motion, noting the Committee's contributions to capital planning and the importance of a continuing role in long-term capital planning.
The committee's establishment means it will continue to meet to review capital financing strategy, financial models and long-term capital needs before bringing recommendations to the full BET. The committee will present the approved change to the full Board for final action.
