continued Legally, the district can only use the money in the fund for capital construction projects, and it can only remove money from the fund with voter approval. State law prohibits the district from using money in the capital reserve fund for instructional purposes.
In 2011, district residents approved using $2.6 million from the capital reserve fund to pay for a $10.5 million proposal that is currently underway and includes rebuilding the district’s bus garage and transportation office and replacing the heating and ventilation system at Fayetteville Elementary School. Voters approved that work March 1, 2011.
Like the proposal voters will consider in March, the 2011 project required no new tax dollars because capital project state aid paid for 81.2 percent of the costs and district residents authorized the district to use $2.6 million from the capital reserve fund to pay for the rest of the project cost.
To address necessary infrastructure repairs or upgrades, this is a strategy the district would like to continue in the future – packaging projects into proposals that will have no new or minimal tax impact on district residents.
Vespi has been working with the district’s architecture firm, Tetra Tech, to evaluate projects currently identified in the district’s long-range plan. They assigned priorities and selected projects for the 2013 proposal based upon several factors, including health and safety threats, whether a condition threatens permanent damage to a district building, the high probability that an essential system is likely to fail in the near future and if a project would save a significant amount of energy (greater than 10 percent of total consumption).
If the bids for the work required by this project come in low enough, and there is enough money left in the proposal budget, the district would like to use the remaining project funds to replace the electrical service at F-M High School, which is about 50 years old.