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Board approves $2.2 million in bills, bus purchase estimate and authorizes up to $300,000 to maintenance reserve
Summary
The board approved June bills and claims totaling $2,198,150.12, accepted investment interest income adjustments, approved a $129,143.05 bus purchase estimate and authorized up to $300,000 to be transferred to a maintenance reserve at year end.
The Henry Hudson Regional Board approved financial and procurement items on June 10, including Bills & Claims for June 2026 totaling $2,198,150.12 and investment interest receipts reported for TD Bank and the NJ Cash Management Fund.
The minutes show the board approved budget adjustments to reflect additional interest earned (+$100,000) and proceeds from an SREC sale (+$29,143) and reallocated $129,143 to a bus purchase object. The board approved an estimate dated 6/3/2026 from Wolfington Body Company for a Type B 29‑passenger bus at $129,143.05 under the ESCNJ bid. Separately, the board authorized the Business Administrator to transfer up to $300,000 of anticipated excess revenue or unexpended appropriations into a Maintenance Reserve account at year end, in accordance with N.J. statutes and Department of Education procedures.
Board Secretary Janet Sherlock provided the formal certification of available funds earlier in the meeting: "I, Janet Sherlock, School Business/Board Secretary, certify that no line item has been over‑expended ... and that sufficient funds are available to meet the district’s financial obligations for the remainder of the fiscal year." That certification supports the board’s authority to approve the transfers and purchases at year end.
Why it matters: The financial approvals and reserve authorization establish spending priorities and capital purchases entering the new fiscal year, and the bus purchase and reserve funding affect transportation capacity and maintenance planning.
Provenance: Bills & claims introduced at SEG 268; bus purchase estimate at SEG 279; reserve transfer authorization at SEG 304.
