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Carmel board creates $3 million repair reserve, approves multiple year‑end budget transfers
Carmel Central School District Board of Education · May 27, 2025
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Summary
The board established a repair reserve fund of up to $3,000,000 from prospective fund balance for future capital repairs and approved several budget‑neutral transfers to close out fiscal year 2024–25.
The Board of Education voted on May 27 to establish a repair reserve fund of up to $3,000,000 under Education Law §3651 and General Municipal Law §6‑d, to be appropriated from prospective additional fund balance as of June 30, 2025. Trustees said the restricted reserve will allow the district to pay for…
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