Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Preschool Capital Reserve topic
No spam. Unsubscribe anytime.
Franklin Borough board approves $144,720 capital-reserve withdrawal for preschool bathroom renovations
Summary
The Franklin Borough School District Board approved a request to withdraw $144,720 from capital reserves to fund preschool bathroom renovations; the amount will be refunded if and when the district receives a preschool expansion grant. The action was approved as part of routine finance business Nov. 17.
The Franklin Borough School District Board of Education approved a request to withdraw $144,720 from the district’s capital reserve to fund renovations of preschool bathrooms.
Business Administrator and Board Secretary Carlos Sarmiento told the board the withdrawal will be refunded when the district receives a preschool expansion grant. The board recorded the calendar review and then approved the capital-reserve request during the finance portion of the Nov. 17 regular meeting at Franklin Elementary School.
Board members formally moved and seconded the finance resolutions and approved the request by roll call as part of the group of finance items. The Three-Year Comprehensive Maintenance Plan for fiscal years 2025–26 was also approved for submission to the Executive County Superintendent, and the board approved the annual Health and Safety Evaluation of School Buildings Checklist required by NJQSAC.
The capital-reserve withdrawal is explicitly tied to a pending preschool expansion grant; the minutes note the district expects to refund the $144,720 when that grant award is received. No timetable for the grant award was provided in the meeting minutes.
The board adjourned the meeting at 8:05 p.m.; the district will proceed with required county submissions associated with the maintenance and safety plans as listed at the meeting.
