Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Finance committee reports boiler-grant denial and outlines capital planning
Summary
At the June 10 board workshop, the finance committee reported a denied boiler-replacement grant worth about $600,000, noted roughly $726,000 in capital reserves and an expected $400,000 operating surplus, and said RFQs for architect and MEP firms will be issued to inform whether the district will phase work or seek a referendum.
The finance committee told the board on June 10 that the district will not receive a boiler-replacement grant it had pursued and that trustees must now consider phasing work or pursuing voter approval for capital costs. "JCP and L did not qualify us for the boiler replacement grant due to their some kind of 50% electric, 50% gas requirement," said Mister O'Fano, the finance committee presenter.
Mister O'Fano said the district has about $726,000 in capital reserve funds and expects to build roughly $400,000 in general reserves this year after prior draws. He also reported a 21% reduction in bussing costs that produced an estimated $64,000 in savings this year. The committee previewed forthcoming RFQs for mechanical, electrical and plumbing (MEP) engineering and an architect to scope phased work and to advise on whether a capital referendum will be needed.
