Capital Reserve Proposition Begins to Take Shape

While Huntington School Board members have not yet taken any final action, the outlines of a possible capital reserve fund proposition are coming into focus in the Huntington School District. Should there be such a proposition and such it pass, there will be no impact on the tax rate.

Assistant Superintendent Dr. Rubie Harris outlined $2,115,154 worth of possible capital reserve projects in the district that are being considered for the May 19 public ballot. Several lighting and sound related projects estimated would be funded out of the regular budget through a transfer to capital line in the amount of $250,000.

Monies for the possible projects already exist and are set aside in a reserve fund created by residents to cover the cost of such projects. The district will not need to borrow or incur any interest expenses should a proposition be placed on the ballot and be approved by residents.

Monies the district is able to save during the course of a year can be transferred into the Building Improvement Fund and used to keep Huntington’s eight buildings in good shape.  These monies can only be used for capital projects, including new school roofs, windows, doors, boilers, facility improvements, etc. Completed projects are eligible for state aid. District residents must approve any expenditure of funds.

The possible projects include installation of fire-rated doors and display case in the nurse’s office at Flower Hill Primary School; installation of fire-rated partitions and doors at Washington Primary School; fire alarm additions at Jack Abrams School; fire alarm additions, non-rated interior window replacement, installation of interior fire wall and partition crack repairs at J. Taylor Finley Middle School; exterior walls vertical crack repairs, interior bearing wall crack repairs, interior doors/stairs (three locations), rated wall of doors; interior rated walls and non-fire rated partitions; restoration of two large student restrooms and replacement of electrical subpanels at Huntington High School and creation of an outdoor amphitheater at Woodhull Intermediate School.

A $250,000 transfer to capital from the regular school budget would allow for lighting and safety improvements at Finley Middle School, including possible sound system upgrades and sound system upgrades at Flower Hill, Southdown and Washington. (Jefferson’s sound system will be completed during the current school year due to an urgent need.)

A final decision on which projects to include in a possible May 19 proposition will be made during an upcoming public meeting of the Huntington School Board.

The monies in the capital reserve fund represent dollars already provided to the district by taxpayers that, because of tight fiscal management and economizing through the years, weren’t needed to pay for regular school operations. The source of the funding is the annual transfer of surplus monies from the district’s general fund.