Board authorizes $76,565 bridge from capital reserve for Drifting Ridge/Argyle pump station engineering
The board approved moving $76,565 from capital reserve to bridge Drifting Ridge/Argyle Pump Station engineering until BAN funds arrive in March; staff said MFPCAB construction is expected in January and about $500,000 may need to be moved later.
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Executive Director Kevin Gorman said the District holds over $1 million in capital reserve and proposed moving funds now to avoid borrowing interest and be reimbursed later. For the Drifting Ridge/Argyle Pump Station project, engineering design is to begin next week and Gorman asked to move $76,565 from capital reserve to bridge cash flow until BAN funds arrive in March; the board approved the budget amendment unanimously.
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