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School District to Establish Capital Reserve Fund

The creation of a long-term 'bucket' of money for repairs and construction is among other items on the agenda for Tuesday's school board meeting.

 

The Central Bucks School District will create a long-term capital reserve fund, if the school board votes to approve the move at Tuesday's board meeting.

The fund would act as a "bucket" to accumulate money over the years to pay for school renovations and repairs.

Doing so would obviate the need for the district to borrow money to pay for such capital improvement projects, district officials said.

The initial target level for the fund will be set at about $6 million, though officials noted that that figure is less then 1 percent of the $700 million value of the school district's buildings.

"It's a starting point," concluded a discussion of the issue at a finance committee meeting. "We are not sure if this number will be adequate to properly maintain our buildings over time."

About $6 million is left from Central Bucks' 2008 bond issue. Of that, $2.5 million is reserved for the stadium project at Central Bucks East High School. The other $3.5 million will pay for the district's next big capital project, renovations to Holicong Middle School.

The board is scheduled to consider the issue at its meeting tonight. The meeting starts at 7:30 p.m. at 20 Welden Dr., Doylestown. The public is encouraged to attend.

Click here to see the full board agenda.

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