Authorization for the Expenditure of Funds from the 2023 Capital Reserve Fund to be presented in a proposition that will read as follows:
SHALL the Board of Education of the Edgemont Union Free School District be authorized to expend a sum not to exceed $3,250,000 from the 2023 Capital Reserve Fund as established on May 16, 2023 for the purpose of performing alterations, construction and reconstruction of the District’s facilities and buildings including roof replacements, plumbing, mechanical and technology upgrades, renovations/reconstruction of interior and exterior instructional spaces, related site work, and the purchase of furnishings/equipment at the Greenville Elementary School, Seely Place Elementary School, and Edgemont Jr./Sr. High School including all labor, materials, equipment, apparatus and incidental cost related thereto?
Since the funds to be expended hereunder are from the Capital Reserve Fund, approval of this Proposition will not require a tax levy upon the real property of the School District.
Authorization for the Establishment of a New 2026 Capital Reserve Fund to be presented in a proposition that will read as follows:
SHALL the Board of Education of the Edgemont Union Free School District, pursuant to Education Law section 3651, be authorized to establish a capital reserve fund to be known as the “2026 Capital Reserve” for the purpose of performing the following District-wide capital improvements: alterations, construction and/or reconstruction of District facilities, buildings and/or additions, including related site work, drainage, health and safety improvements, fire alarm replacement and/or upgrades, ADA and handicap accessibility improvements, masonry renovation, plumbing replacements and/or upgrades, electrical upgrades, HVAC/mechanical repair, renovations or upgrades, technology upgrades, telephone upgrades, roof replacement, door replacement, window replacement and/or renovation, turf replacement, fencing replacement, paving renovation and upgrades, replacement and/or renovation of curbs, sidewalks, and walkways, renovation/reconstruction of interior and exterior instructional spaces, renovation/reconstruction to noninstructional spaces, renovation/reconstruction of toilet rooms, renovation of athletic fields, resurfacing and/or renovation of tennis courts, asbestos abatement, abatement of hazardous materials, purchase of new school site or school building and/or the purchase of furnishings/equipment, all of the foregoing to include all labor, materials, equipment, apparatus and incidental cost related thereto? The maximum amount of the aforesaid Capital Reserve Fund shall be $7,500,000, plus investment income. The probable term is to be ten (10) years; the funds are to be transferred from surplus monies in unassigned fund balance including a sum not to exceed $2,500,000 from the 2025-2026 budget and thereafter in an annual amount of not more than $2,500,000 for each remaining year of the probable term. Upon the establishment and funding of said reserve, the Superintendent of Schools or his designee shall be directed to deposit monies of this reserve fund in a separate bank account to be known as the “2026 Capital Reserve Fund.