Fiscal Committee Meeting 9/14/2026

The Stream Palisades Fiscal Committee met on September 14, 2026, to review a five-year financial projection and proposed financing for capital projects. Projections showed declining fund balances and prompted discussion of tightening spending, limiting capital work to essential projects, and maintaining a reserve target of about 8% of expenditures. Revenue and cost assumptions—including 2.5% annual growth in real estate tax revenue, 3% salary growth, and 6% medical-insurance growth—were questioned, and members discussed updating projections and modeling possible building consolidation. No final consolidation decision was made.

The committee reviewed a competitive RFP for bond underwriting sent to major Pennsylvania firms. PNC Capital Markets offered the lowest commission at $3.75 per $1,000 of bonds, estimated at about $21,500 for the anticipated $5.75 million issue. The financing would be structured for approximately 20 years; the parameters resolution allows borrowing up to $7 million at a maximum 5% interest rate to meet state approval requirements. The committee indicated support for moving the resolution forward, apparently as a recommendation for the full board, with the resolution scheduled for a subsequent meeting. Members also discussed separating and tracking bond proceeds and using them for capital-project costs. A sewage-treatment-plant change order was described as a credit, but no amount was stated. The meeting also reviewed annual Title funding and other fiscal matters; no additional procurement award was identified.