BoA Finance Committee 5/12/2025

The Board of Alders Finance Committee met on May 12, 2025, to discuss several budgetary and procurement matters. Key procurement discussions included the approval of a three-year contract with ACT Incorporated for a new two-way communication platform for the Board of Education, aimed at improving multilingual communication and digital security. The contract is valued at $123,887 annually, representing a cost saving compared to current expenditures. The committee also reviewed budget adjustments involving revenue and expenditure corrections, including the use of ARPA funds for police and fire overtime and tutoring programs. The meeting included detailed financial reports highlighting projected deficits and revenue adjustments, with plans for further deliberations and potential amendments in the upcoming meeting. The committee emphasized the importance of timely contract approvals and thorough review of budget figures to ensure fiscal responsibility.