Spencerport Schools looks to create capital reserve fund

Voters in the Spencerport Central School District will go to the polls on Tuesday, December 7, to vote on the creation of a Capital Reserve Fund to be used to pay the local share of future facility construction and renovations.

"Basically, the Board of Education is proposing to establish a savings account to pay for major repairs to our facilities so that we will not need a tax increase when these events occur," said Phillip W. Langton, superintendent of schools. "Most of our neighboring districts have such funds already. We know that in five to seven years, our oldest schools will need substantial roof repairs, parking lots and roads will eventually need repaving, technology infrastructure has to be updated at some point, and the district will have other major repairs periodically. Those costs will be substantial, but by setting aside a small amount each year, we won't have to increase taxes to pay for needed repairs."

This proposition will give the board the authority to place any funds remaining in the budget at the end of the year in the capital reserve fund. "Every year, we estimate what we need to spend when voters approve our budget. Sometimes we get a little more state aid than we anticipate or the costs of running the district are lower than we expect," Langton said. If approved, this vote will allow the board to set those funds aside for future renovation needs.

The purpose of the fund is to finance site work, construction or reconstruction and equipping of school buildings and facilities, cannot exceed $10 million and cannot be used for any other purpose. State aid will still be available to pay for a portion of future projects, but this savings account is designed to pay for the local share when these renovations are needed. A that time, voters also will need to go to the polls to authorize any expenditures from the fund.

The December 7 vote will take place between noon and 9 p.m. at the district Administration Building, 71 Lyell Avenue. All district residents age 18 and over who are U.S. citizens may vote. Voters do not need to own a home in the district, but will need to show identification. For information, call 349-5104.