Board maps bond and grant proceeds to summer projects, including gym floor, fire alarm and library work

Salisbury Township School District staff outlined how bond proceeds, land-sale proceeds and recently awarded grants will fund several proposed summer 2026 capital projects, including a Middle School gym floor, a middle-school fire alarm replacement, and an elementary library reconfiguration.

At the Operations & Finance meeting on Dec. 4, staff summarized available funds as of Oct. 31, including remaining proceeds from a 2023 bond, remaining proceeds from a 2024 bond (amounts cited on the record), land-sale proceeds (stated in the meeting at about $1,360,500) and interest earned (~$41,000). Staff said the district was awarded a Public School Safety Grant to help pay for the middle-school fire alarm system (project estimate and district match were discussed on the record) and an Environmental Grant tied to the elementary school water remediation project; both grants carry district match obligations (25% and 50% respectively as stated in the meeting).

Staff proposed specific summer projects that would be funded from these sources: finishing the Middle School gym floor to complete recent renovations; installing the fire alarm system at the Middle School (grant-funded with district match); library reconfiguration at the elementary school (to be covered by grant reallocations rather than tapping the land-sale capital fund); hallway ceiling/lighting work around the library (quoted at $47,861.91); refinishing or replacing flooring in approximately 28 middle-school classrooms; painting and finishing for the elementary cafeteria; and intercom upgrades estimated at about $30,000 per building ($90,000 total).

Presenters walked the board through a funding “marriage” that allocates small remaining proceeds from the 2023 bond to the gym floor, uses the safety grant for the fire alarm with the district covering the match from bond proceeds, and applies the environmental grant toward the library and classroom flooring with the district bond match. After the proposed allocations, staff cited an estimated remaining bond balance in the low six figures (the presentation gave an approximate remaining balance of about $160,000–$165,000 across affected bond funds), and noted that interest earnings through spring could increase that amount before summer projects are paid.

Board members asked clarifying questions about bond rebate/arbitrage deadlines, the intended use of land-sale proceeds (staff said the original intent was for capital impact projects, not to backfill general fund budgets) and long-range MFP items such as a future high-school chiller replacement. Staff said they are working with financial advisers on possible refinancing options to flatten future debt-service impact and will continue finalizing quotes and contractor arrangements for the summer work.