On the ballot: Capital Reserve Fund

A separate proposition will appear on the ballot seeking voter approval to establish a 2022 Capital Reserve Fund up to $20 million.

A capital reserve fund allows the district to set aside money for future construction projects and major purchases, much like a savings account. Because capital assets have a predetermined useful life expectancy, a capital reserve reduces the need to borrow funds to replace those assets in the future, yet still maximizes state aid.

Only in years where a surplus exists could 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.

Click here for more information about voting on Tuesday, May 17.