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Board hears capital bond timing and $14.68 million in expected proceeds; some site work may start in June
Summary
CFO Irene Byrne told trustees bond proceeds—about $14,679,002.54—are due June 27; auditors could require some booking into June, so limited site or survey work is budgeted now with bulk of projects occurring in FY25–26.
Trustees were briefed on the district's new capital bond and how proceeds will be handled across fiscal years.
Irene Byrne told the board the bond proceeds are expected to arrive on June 27 and that "It's just under it's $14,679,002.54." She said the district set aside a small amount for early site or survey work that could be booked into the current fiscal year if auditors determine those funds were committed before June 30, while the bulk of construction and capital spending will appear in FY25–26 and later.
Byrne said some early work—surveying and site preparation—may be funded now to avoid schedule delays; auditors will review commitments when they meet with the district later this summer.
