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Board approves deposits to maintenance and capital reserves totaling up to $5 million
Summary
Trustees authorized deposits of up to $2.5 million to the maintenance reserve and up to $2.5 million to the capital reserve from an available balance of $20,242,025, as read during roll call motions.
During the June 4 meeting, the Toms River Regional School District board approved motions to deposit funds into district reserves: up to $2,500,000 to the maintenance reserve and up to $2,500,000 to the capital reserve. The agenda cited an available balance of $20,242,025 as the basis for the deposits.
The motions were presented and adopted by roll call. No specific procedural or programmatic uses for the reserve deposits were read into the meeting excerpt; the action was presented as a standard fiscal management measure.
