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Board approves deposits up to $3 million each to maintenance and capital reserves
Summary
The board voted to transfer up to $3,000,000 to maintenance reserve and up to $3,000,000 to capital reserve based on available balances. The motion passed by roll call during the May meeting.
The Toms River Regional School District Board of Education approved a motion to deposit up to $3,000,000 into the district's maintenance reserve and up to $3,000,000 into its capital reserve based on available balances.
The motion was made by a board member and seconded; the clerk read the motion referencing the available balances dated 02/25/26. A roll-call vote recorded affirmative votes from the attending board members and the chair declared the motion approved. The board did not discuss amendments to the motion on the record.
The transfer directs available operating balances into designated capital and maintenance accounts to preserve funds for facility needs and capital projects; the motion did not specify particular projects or an implementation schedule. Details on which projects—if any—will use the funds were not provided during the meeting.
