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Board considers audit contract and gets initial notice about potential $3 million bond issue
Summary
The board considered a contract with Philip Sawmey Associates LLC to conduct the annual financial audit and heard a member note an initial notice to possibly issue bonds up to $3,000,000 to allow faster action if upcoming bus bids exceed budget expectations.
The board considered approval of a contract with Philip Sawmey Associates LLC to perform the district's annual audit. The contract language was presented as a standard procurement/contract item; no detailed audit findings were discussed in the provided segments.
A board member explained this item also included an initial notice that the district could issue bonds in an amount up to $3,000,000 if bus-bid results in August exceed available resources. "This is just the initial notice that we could potentially issue bonds up to $3,000,000," the member said, noting the notice would enable a quicker process should bus bids be higher than anticipated.
