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Board to ask voters to add up to $50,000 to capital reserve from fund balance
Summary
Warrant Article 3 would deposit up to $50,000 into the district's capital reserve trust from available fund balance; the board recommended the appropriation and answered a resident question that the reserve balance is $265,886.
Article 3 was read and explained at the Exeter School District deliberative session on Feb. 3. The article would place up to $50,000 into the district’s capital reserve trust (established in 2002) for construction, reconstruction or site improvements; funding would come from June 30 fund balance with no additional taxation.
Kate Pratt described the item as prudent planning for unexpected facility needs, such as roof repairs; she explained the appropriation only occurs if there are available fund-balance dollars at year end. Resident Stacy Pena asked about the current balance of the capital reserve; the board reported $265,886.
The meeting then called the question by voice vote and put Article 3 on the March 10 ballot. Reconsideration of the article at the session was restricted by a subsequent voice vote.
