CASTLETON-ON-HUDSON, N.Y. (NEWS10) — Voters in the Schodack Central School District have approved two capital project propositions in a December 14 vote. The district said the projects would have no additional cost to taxpayers.
The first proposition was to use $350,000 of 2015 capital reserve funds for Maple Hill High School gym roof repairs. This passed by a vote of 192 to 10.
Proposition two was to authorize the creation of the 2022 Capital Reserve Fund. Capital reserve funds allow districts to set aside savings at the end of the school year to help finance future repairs, maintenance and improvements. This passed by a vote of 176 to 25.
The district said the Maple Hill gym roof is over 20 years old and large areas of the existing rubber roof have already peeled from the structure. Currently, the district has stabilized the roof with concrete pavers but it is not a long-term solution.
The district hopes to finish the roof before winter 2022-23. This voter approval allows enough time for the required NYS Education Department project permissions and to accommodate an almost certain delay of raw materials due to supply chain issues.
The capital reserve fund helps the district reduce the amount of money it needs to borrow from the state. The district said borrowing less money would reduce future impacts on voter taxes and reduce spending on interest payments of borrowed money. The district could set aside up to $4 million in the fund over the next 10 years, which is the lifespan of the fund.
“We are grateful to all the Schodack CSD community members who came out today and exercised their right to vote on these important propositions,” said Superintendent Jason Chevrier.