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RSU 57 finance committee hears SRRF extension; board vote, public hearing and June 9 referendum set
Summary
Director Colin Walsh told the finance committee the district received an extension for the School Revolving Renovation Fund to Sept. 30, 2028; the board will consider approval April 8, a public hearing will be held the evening of the May 5 budget meeting, and a validation referendum is scheduled for June 9.
The RSU 57 Finance Committee was told March 31 that the district had received an extension for its School Revolving Renovation Fund (SRRF) to Sept. 30, 2028, allowing necessary structural work to be scheduled across fiscal years 2027 and 2028.
"The validation referendum is on Tuesday, June 9," said Colin Walsh, director of finance and communication, who told the committee the board will vote on the SRRF April 8 and, if the board approves, there will be a public hearing on the same night as the May 5 budget meeting beginning at 7:00 p.m. Walsh said the hearing will let the board present the project, explain financial impacts and take public comment before the district-wide referendum.
Walsh summarized the funding picture for the project as described to the committee: "This is a project where 41% of about 1,200,000 is going to be paid by the state and the other 59% paid by the district over 10 years at 0% interest." He emphasized the figure is a planning estimate and that more detailed costs and approvals will follow engineering work.
Committee members asked for clarification about the scope of the Alfred roof work and whether it was merely re-roofing. Walsh said the SRRF approval is for structural roofing upgrades driven by current code and snow-load requirements, not simply cosmetic re-shingling, and stressed the building is currently safe.
The SRRF item is scheduled to go to the full school board April 8. If approved by the board, a public hearing will be held at 7:00 p.m. on May 5 (the same night as the district budget meeting), and the validation referendum vote is set for statewide voting day on Tuesday, June 9.
Next steps: the board will vote April 8; a public hearing is planned for May 5; and the validation referendum will be held June 9.
