A separate proposition will appear on the ballot seeking to establish a 2025 Capital Reserve Fund, up to $30 million. Reserve funds are separate accounts set up to finance various district expenses and serve as voter-approved savings accounts that are used for specific purposes.
A capital reserve fund allows the district to set aside money for future construction projects and major building repairs, reducing the need for borrowing for facilities improvement projects. Only in years where a surplus exists can money be placed in the capital reserve.
Voter approval would also be required at the time capital reserve funds were to be spent. There is no tax increase associated with the creation of the reserve fund.