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Commission seeks breakdown of SRF financing for Indian Harbor septic-to-sewer work
Summary
Commissioners asked staff for a line-by-line breakdown of income and expense accounts tied to the state revolving fund (SRF) financing for the Indian Harbor Estates septic-to-sewer project and noted reimbursements and debt-service postings.
Oak Hill — Commissioners requested a detailed accounting of SRF (state revolving fund) receipts and related expense postings tied to the Indian Harbor Estates septic‑to‑sewer project and other long-term debts.
Commissioner (S3) said the SRF loan appeared to be strictly for Indian Harbor Estates and asked staff to identify the specific line items used for principal and interest payments. Staff (S4) and consultant Vince Denaglia (S6) said the $3,200,000 shown in the draft is used on the revenue side for reimbursements while debt-service principal and interest are posted to separate expense lines; staff agreed to prepare a clear report showing each SRF income and expense line.
