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Supervisor reports CHIPS funding outlook, insurance items and authorizes bond anticipation note paperwork
Summary
Superintendent Hajczewski reported an equalization rate of 41.04% and potential CHIPS leftover funds of $46,500 that could push CHIPS receipts above $160,000; Supervisor Bronner authorized paperwork for a $300,000 bond anticipation note with a $60,000 principal payment and $12,450 interest.
Superintendent Hajczewski told the board that the town's equalization rate is 41.04% and that the state had offered leftover CHIPS funding of $46,500; he said that if the town receives the same level as the prior year, CHIPS-related receipts would total more than $160,000 for the year. The board received the Supervisor's and Town Clerk's monthly reports for December.
Supervisor Bronner also reported other administrative items: a three-year Workers' Comp Alliance agreement noted at $20,545 (the Supervisor said next year's cost could differ), an annual payment of $696 toward past Herkimer County self-insurance claims, and new rate information from Wheelock garbage disposal. Bronner requested authorization to prepare paperwork for a $300,000 bond anticipation note; the board approved authorization for the paperwork, noting a principal payment of $60,000 (over five years) and interest of $12,450 on the $300,000 note. The motion passed on a roll-call vote; minutes record 'all ayes.'
