07212026 Finance Committee

The City of Bethlehem Council Finance Committee met on July 22, 2026, to discuss several key financial and procurement-related items. The primary focus was on a proposal to restructure the city's existing general fund debt, which has been significantly reduced from $171 million in 2015 to $77 million in 2026. Financial advisors from PFM presented a detailed plan to refinance portions of the 2017 and 2019 bond issues to achieve annual debt service reductions and improve budget flexibility. The committee reviewed the proposed restructuring amounts, timelines, and expected interest rates, with a vote on a parameters ordinance scheduled for August. Additionally, the committee approved budget adjustments related to the "Green Light Go" program, which involves capital improvements funded primarily through grants with a 20% city match, totaling approximately $708,000. The meeting also included a midyear financial report highlighting steady revenue streams, controlled expenses, and concerns about rising medical costs. No votes were taken on the debt restructuring during this meeting, but motions to approve the capital budget adjustment and related resolution for the Green Light Go program passed unanimously and will proceed to full council for final approval.