Schoharie Central School District residents will vote on Tuesday, Oct. 2, 2018 on propositions to allow the district to establish reserve funds for purchasing school buses and making repairs to district buildings and related equipment. Polls will be open in the Schoharie High School library lobby from 9 a.m. to 9 p.m. for district residents to vote on the propositions.
If the propositions are approved, the district could set aside money drawn from its general fund and/or budgetary appropriations, after meeting annual obligations, for each of the dedicated reserve funds. Interest would continue to be earned on reserve monies, and state aid would not be affected.
Proposition 1: Establishment of a Capital Reserve Fund for School Bus Purchases would authorize the district to create a reserve for a term of 10 years of up to $1 million to cover the direct (cash) purchase of school bus vehicles. Monies would be transferred from the general fund to the reserve fund, where they would accrue interest until used. Providing the district with the option to use cash for school bus purchases in place of, or in addition to borrowing would reduce the amount of bus purchases to be financed and the associated debt service costs.
Proposition 2: Funding of Repair Reserve Fund would allow the district to appropriate $200,000 from the general fund and/or budgetary appropriations for a reserve fund to pay for building repairs, improvements or related equipment that occur beyond annual or regularly scheduled repairs. The repair reserve fund would be separate from the capital project reserve fund approved by district voters in May 2018.
“District residents are asked to vote each May on a proposed school budget and various propositions as part of the democratic process that gives them a say in how their taxpayer dollars are spent,” said Schoharie Central School District Business Administrator Sarah L. Blood. “Rather than wait until next May, we are holding the vote in October on the propositions for the school bus purchase reserve and building repair reserve so that those funds can be established before then, allowing us to make best use of available money.”
To vote on the propositions, a person must be a U.S. citizen, age 18 or older on Oct. 2, and a legal resident of the school district for a period of not less than 30 days preceding the vote. The school district may require persons offering to vote to provide one form of proof of residency, pursuant to Education Law Section 2018-c. Such form may include a New York State driver’s license, a non-driver photo identification card, or a voter registration card. Upon offer of proof of residency, the school district will require all persons offering to vote to provide their written signature, printed name, and street address within the established geographic boundary of the school district.
For questions regarding the propositions, contact Sarah Blood at firstname.lastname@example.org or (518) 295-6673.