Capital Reserve Fund – 2017

Capital+Reserve+Fund+-+2017

Hannah Kelley, Reporter

The District is seeking voter authorization to establish a new reserve, Capital Reserve Fund – 2017. This fund shall be used to fund all or a portion of the costs of the acquisition, construction, expansion, renovation, alteration, and improvement of the District’s buildings, facilities, grounds, and property, including the purchase of furnishings, equipment, machinery, and apparatus.

As part of this capital fund some projects have already been completed. For example, at the Primary School they have removed and replaced blocked sewer lines to the septic tanks, replaced damaged classroom doors and glass, removed the asbestos floor tile in the music room, room number 108, and installed carpet. At the Middle/Intermediate School they upgraded the network video recorder and security cameras, and assembled new picnic tables for the new pavilion at the playground. Finally, at the High School they resealed the parking lots, installed new LED parking lot and walking lights, installed new kitchen equipment in the serving line and installed new wiring and switches for the basketball backstop in the gymnasium.

Renovations 2014 was helpful in repairing our buildings and infrastructure; however a significant amount of work still needs to be completed. The District completed a new Building Condition Survey, which is required every five (5) years. The survey indicated that the District needs to make approximately $35 million in additional repairs and upgrades for items identified with a useful life of 7 years or less. The proposed reserve will allow the District to offset the local share and tax impact of future renovations, repairs, and equipment needs. This fund shall not exceed $8,000,000.