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Germantown schools to create new capital reserve fund

Apr 11, 2018 7:15 am

Debby Mayer is reporting for The Columbia Paper voters in the Germantown school district will be asked to weigh in on a Capital Reserve Fund Proposition when they go to the polls in May. The measure was approved by the Board of Education last month. The proposition seeks voter approval for the creation of a capital reserve fund of $3 million for a maximum term of 10 years. The reserve would be used for the construction and reconstruction of district buildings and facilities. “When you create a reserve, it needs a maximum amount,” Superintendent Brown said. “That’s the rule.” The new capital reserve would be used for a future capital project, not the current one, Brown said. The district's current capital project is pending review by the State Education Department. The board will hold a public hearing on its 2018-19 spending plan Wed., May 2. The annual budget vote and school board election will be held noon to 9 p.m., Tue., May 15 at the school. Read the full story in The Columbia Paper.