Community supports district reserve funds

(October 21, 2009) - On October 20, the Voorheesville Central School District received voter approval for district officials to establish two reserve funds.

Proposition #1: Capital Reserve Fund (Land Acquisition)
Shall the proposition set forth in the notice of this meeting authorizing the establish of a capital reserve fund to be designated "Land Acquisition Reserve Fund", with the ultimate amount to be $250,000 (plus accrued interest), a term of 20 years, and annual appropriation of available fund balance and other legally available funds to such Reserve Fund, be approved? 

Passed 175 to 99

Proposition #2: Repair Reserve
Shall the Board of Education be authorized to transfer up to $200,000 from unallocated fund balance to the repair reserve?

Passed 193 to 84

Superintendent Dr. Teresa Snyder says that while the district doesn't have immediate plans to purchase land or do any major capital improvements, "We thank the community for supporting the district to better position the school district's finances to meet short and long term needs in these times of economic uncertainty."

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