Greenport School District Asks Residents To Vote On Establishing Capital Improvements Reserve Fund

GREENPORT, NY — The Greenport Board of Education is asking the public to vote on a ballot proposition that would establish a capital reserve fund for improvements and upgrades to an aging building.

The board of education voted unanimously a resolution at their March 21 meeting to put the ballot proposition to the public on May 16, the day of the school budget vote.

“This reserve will represent a financially prudent and wise fiscal position for the taxpayers of Greenport,” Greenport Board of Education President Babette Cornine said.

According to a release from Greenport School Superintendent David Gamberg, the reserve fund would allow the district to place an amount up to $750,000 for each of the next 10 years into the fund, to be used for specific capital improvements in the district.

The reserve would only be funded when monies are available; there may be years where little or no funds are placed into the reserve and other times when funds up to the $750,000 may be placed into the reserve, the release said.

“Many of the district’s reserves are appropriately funded, and this new reserve addresses the critical area of supporting an aging building,” Charles Scheid, assistant superintendent for business, said.

Gamberg added, "This is a great way to save money now for capital improvements in the future that will reduce the level of borrowing, and not increase taxes to make improvements to the school building. This protects the community’s investment in quality facilities.”

Once established, the capital reserve fund requires voter approval for any proposed expenditure, the district said in the release.

“It is very important to note that the voters will have the final say before any funds are expended,” Greenport Board of Education Vice President Kirsten Droskoski said.

According to the resolution, the capital reserve fund, known as the "Facilities Improvement Program 2017" would be used for capital improvements including classroom renovations and upgrades, renovations to the gym, auditorium, cafeteria, library and multi-media center, and a host of other improvements, including security, plumbing and electrical upgrades.