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Town adjusts budget entries to reflect changing principal/interest on NYPA LED loan, reallocating $113,650
Summary
Comptroller Melissa DeMarmels presented and the board adopted transfers/amendments to reflect declining-balance payments on the NYPA LED project loan, reallocating $113,650 across principal and interest accounts for multiple lighting districts.
The board approved Resolution No. 334, adopting budget transfers and amendments to reflect declining-balance principal and interest payments on the NYPA LED project loan for fiscal year ending 12/31/25. Comptroller Melissa DeMarmels explained that actual payments now allocate more to principal than interest; the adopted adjustments reallocate a total of $113,650 across multiple accounts in general and lighting-district funds.
The minutes list detailed account adjustments for several lighting districts (A000, SL01–SL12 accounts) with equal aggregate increases and decreases totaling $113,650. The motion was moved by Councilman Schock and seconded by Councilman Benjamin and carried by those present.
