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Finance report: district on budget, recommends contract awards and ratifies $190M bond sale terms
Summary
Dr. Michaud reported the district is trending with plan for January–February, reviewed bond construction updates and recommended contract actions including a $52,523 Microsoft EES license year and a $124,000 structured cabling award; she reported that a March 4 bond sale authorized up to $190,000,000 and projected interest savings of about $600,000 over the life of the bonds.
Dr. Michaud summarized the finance committee's review of January and February fiscal reports and said the district is "trending according to to plan and in line with budget from last year as well." She reviewed bond construction updates (athletic fields and northern fields coming later in spring/summer) and reported the aquatic center remains in a value‑engineering/design phase with bidding planned for the summer.
On federal funding, Michaud said federal grants provide a relatively small share—about 2%—of overall revenue but support important programs. She reported roughly $2,700,000 in federal grants to the general fund (approximately $2,000,000 of that for special education), about $1,600,000 in the special revenue fund (largely breakfast and lunch programs) and approximately $600,000 in annual Medicaid reimbursements. Action recommendations presented to the board included: approve year 3 of the Microsoft EES license for $52,523 from the general fund; award structured cabling to Digital Age Technologies (~$124,000 from 2025 capital projects); and approve one‑year extensions for lawn maintenance (Van Vossen Outdoors, $122,736) and fertilizer/weed control (TruGreen, $63,800). Michaud also described a March 4 bond sale to issue up to $190,000,000 and said projected interest savings from the sale are about $600,000 over the life of the bonds.
