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Board approves capital bond authorization totaling about $14.68 million in proceeds
Summary
CFO Irene Byrne told the board the capital bond proceeds arriving later this month total $14,679,002.54 and will principally fund work in the 2025–26 budget cycle; the bulk of spending is expected after July 1, 2026, though limited June commitments may be booked for audit purposes.
The board approved a capital bond original budget as recommended administratively; CFO Irene Byrne said proceeds are expected on the 27th and cited the amount in the transcript as $14,679,002.54. "You're gonna pass for the 1st time tonight, 02/2425 capital bond 2,025, and that is the proceeds that are coming in on Friday," Byrne said, adding the bulk of project spending will occur after July 1, 2026.
Byrne noted auditors may require that committed funds be booked into the current fiscal year (June), and the budget includes a small contingency for initial site or survey work. The board moved and adopted the capital bond budget resolution by voice vote.
