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Middletown board approves increase to capital reserve, adopts financial memorandum
Summary
The Middletown City School District Board of Education voted unanimously to adopt a financial memorandum that raises the district's capital reserve to $12 million and includes other reserve allocations and financial approvals.
The Middletown City School District Board of Education voted unanimously Thursday to adopt a financial memorandum that increases the district's capital reserve to $12,000,000 and makes additional reserve allocations and routine financial approvals.
School officials said the increase is intended to ensure funding for upcoming capital projects and to maintain the district's credit standing. "we are putting aside, $12,000,000 in the, capital reserve, and that will…
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