Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Town Administrator reports on waterline reimbursements, bond anticipation note, Holley Hall improvements and other projects
Summary
Town Administrator Greg Faust reported on construction cash flow tied to the water-line project (about $441,000 invoices vs $331,000 reimbursements), a bond anticipation note to protect general-fund cash flow, an expected $600,000 bill in July, and project updates including Holley Hall blower-door test showing a 30% air-leakage reduction and landfill sampling reduced to annual frequency.
Town Administrator Greg Faust gave the Board a financial and operational update. On the water-line construction project he said roughly $441,000 in construction invoices were going out this month against approximately $331,000 coming back in reimbursement; he added that construction loans with the state are closed so reimbursement can begin and that a bond anticipation note was issued to protect general-fund cash flow. Faust said bond anticipation documentation would be ready by the July 6 meeting and could be acted on at the July 6 or July 13 meeting, depending on timing around the July 4 holiday.
Faust provided several operational notes: the Town Plan update is underway with consultant Dubois & King after a June 6 kickoff; Hub Teen Center Director Dylan Verner completed the first phase of skate park ramp renovations with strong volunteer support; the Mountain Street stormwater scoping study is complete; landfill solar permitting is progressing and annual sampling will reduce costs; Munson handled the West project work with some cleanup remaining and BABA certifications pending; and Holley Hall's initial blower-door test showed a 30% air-leakage reduction, keeping the project aligned with Efficiency Vermont rebate thresholds.
