Cazenovia CSD, one step closer to finalizing plans for a 2020 Capital Project. On Oct. 15, the school board unanimously approved to send two propositions to the voters on Dec. 18. The first proposition is for a $15 million capital project, phase I of the district’s long-range facilities plan. The second proposition is for the establishment of a capital reserve fund. Our many thanks to all the faculty, staff, school board and community members who contributed in this endeavor. The district has updated information available on its website and will be hosting another opportunity to share details of the proposed project on Dec. 11 at 6:30 p.m. in the High School’s Buckley Gymnasium.
Both propositions are an investment in providing safe, healthy, effective and flexible student-focused learning environments as part of the district’s “Cazenovia 2030 … And Beyond!” long-range facilities plan. Most readers are familiar with school capital projects, in which the district periodically asks voters to commit funding for accomplishing specific facilities improvement work. A capital reserve, however, may be something new to many of you.
A capital reserve is a financial planning tool utilized by the district to set aside funds that will help pay for future capital improvement needs, thereby reducing the tax impact of future phases of the long-range plan. Given the age of our buildings and the escalation of construction costs, the district sees this as a critical need to help offset some or all of the local share for future projects. Your support of this proposition will allow the district to place a portion of any operating fund balance into a savings account earmarked for capital facilities work.
The district has many existing reserve funds, each a unique savings account with a particular purpose. Over the past few years, the district has worked diligently to rebuild these accounts and is happy to report that these efforts have improved both our financial health and credit rating.
By voting yes to this proposition, you are authorizing the district to establish a new “savings account;” you are not being asked to fund this account. It will be funded in the same way our other reserves have been, through the allocation of unspent funds remaining near the end of each school year. The actual amount allocated each year will be authorized by the school board. You, the voters, will authorize the use of these funds in conjunction with future capital projects.
Please be sure to come out and vote on December 18. Polls will be open from 7 a.m. to 9 p.m. in the middle school auxiliary gym, 31 Emory Ave. Cazenovia.
Jason Emerson is editor of the Cazenovia Republican and Eagle Bulletin newspapers.
Nov 13, 2018
Nov 13, 2018
Nov 13, 2018