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Agency will review PFM draft study Aug. 6; study raises borrowing and reimbursement questions
Summary
A June 30 draft PFM study poses three policy questions for the agency — member reimbursements, borrowing up to $45 million, and establishing a debt-service reserve — and administrators will meet Aug. 6 to refine recommendations for the board.
Dan Hoyts told the board the PFM draft study, submitted to administrators on June 30 and described as roughly 12 pages, contains policy options the agency should consider. "If you recall, there were 3 specific questions that they have proposed answers to," Hoyts said, and then listed the questions related to member reimbursement for pioneer lines, a potential $45,000,000 borrowing, and creating a debt-service reserve fund drawn from excess revenues.
Hoyts and other administrators said they would gather written comments, respond to member feedback, and use the August 6 in-person meeting with PFM to develop recommended policies for the board. Hoyts stressed he wanted administrator-level consensus before presenting formal policy proposals at a future board meeting.
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