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Board hears proposal for $15 million capital reserve over 15 years
Summary
District staff proposed creating a $15 million capital reserve to fund district projects over 15 years; the proposal follows discussion that the current reserve will be fully funded by the end of the school year.
Mr. McDade told the board the district is proposing a new capital reserve of $15,000,000 to cover capital projects over a 15-year period and noted the current reserve will be fully funded by the end of this school year.
"The creation of a new capital reserve for $15,000,000 over a 15 year period," Mr. McDade said, explaining the reserve would be used for district capital projects and remarking that the existing reserve has supported tens of millions of dollars of work in prior years.
The presentation mentioned one additional capital project in the proposed budget — roughly $100,000 for unit-vent replacements at Central — and Mr. McDade invited questions on capital projects previously discussed during a building tour. The board did not finalize the reserve at this meeting and scheduled further review.
