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Board OKs transfers of up to $3 million each to maintenance and capital reserves
Summary
The board approved deposits of up to $3,000,000 to the maintenance reserve and up to $3,000,000 to the capital reserve based on available balances; the motion was moved by Contessa, seconded by Howe, and passed by roll call.
The Toms River Regional School District Board of Education voted to deposit up to $3,000,000 into the district’s maintenance reserve and up to $3,000,000 into the capital reserve based on available balances noted during the meeting.
“Need a motion for the approval of the deposit up to $3,000,000 to maintenance reserve and up to $3,000,000 to capital reserve based on the $2,025.26 available balances,” the Clerk stated and Contessa moved the motion; Howe seconded.
The board approved the transfers by roll call. The transcript cites an available-balance figure ($2,025.26) in reading the motion; it does not provide additional budget detail or the exact timing of transfers beyond the board’s approval to deposit up to those amounts.
