March 24, 2014 | 370 views
Residents approve capital reserve fund
Voters approved the Capital Reserve Fund that was established by the Wantagh Board of Education by a 171 to 98 margin.
The Capital Reserve Fund will be used to pay for safety and security enhancements, ADA renovations, fine and performing arts renovations, athletic field reconditioning, locker replacements, bathroom renovations, HVAC repairs/upgrades, ceiling replacements, asphalt, concrete and paving, electrical upgrades and more.
“These projects are expensive and are difficult to find out of the budget,” said Adriana Silver, assistant superintendent for business.
She also said that deferment of major projects also leads to more money spent and having the Reserve will just lead to additional savings in the long run.
“If you defer, it actually costs more money because then you have emergencies and repairs to take care of,” she said.
A specific project list must be established and shared with the community before any money is used. By law, a second vote must be held to obtain voter approval to use the Capital Reserve Fund for these specific projects.