Washington Primary School

Trustees Approve Capital Reserve Fund Proposition

A new roof is being eyed for Washington Primary School. (Darin Reed photo.)

March 28, 2017

Huntington School Board members voted unanimously on Monday night to put a capital reserve fund proposition on the May 16 ballot to cover costs associated with projects in five of the district’s buildings.

Since the funds for the proposed projects already exist in the capital account, the district will not have to borrow any money, incur interest or raise taxes. The district will also be eligible for state aid on a percentage of the expenditures associated with the projects.

“Our buildings are in terrific shape and well maintained, but in general, buildings that are over a half-century old require scheduled structural replacements, repairs and upgrades,” Huntington Superintendent James W. Polansky said. “Projects proposed on the upcoming ballot include items essential to building infrastructure and security. They are high priority items that can be addressed directly using monies from the district’s capital reserve funds with no impact for the taxpayer.”

The projects that will be on the May 16 ballot include:

Washington Primary School
• Replace the building’s roof: $1,250,000
Jack Abrams STEM Magnet School
• Replace two of the building’s three boilers: $850,000
J. Taylor Finley Middle School
• Replace exterior doors and the roll-up door to the wood shop area: $150,000
Nathaniel Woodhull Intermediate School
• Replace four main entrance exterior doors and reconstruct the security vestibule area: $145,000
Southdown Primary School
• Construct a security vestibule in the main lobby: $100,000
Total: $2,495,000 (Estimated and subject to bidding.)

The Huntington School District currently has $7,798,248 in available capital reserve fund monies. If voters support release of the funds, property taxes will not increase since the monies are already in place. No new revenues are required. The funds represent dollars previously provided to the district by taxpayers that weren’t needed to pay for regular school operations because of tight fiscal management and economizing. The source of the funding is the annual transfer of surplus monies from the district’s general fund to the two existing Building Improvement Funds.

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