Medina Journal-Register — MEDINA - When voters in the Medina Central School District go to the polls on Tuesday, May 21, there will be two propositions accompanying the district budget.
Proposition 2 deals with the purchase of three buses - one large and two small. The buses will replace some others in the district’s fleet. The purchase, which will be made through existing capital reserve funds, will not exceed $200,000.
Proposition 3, if passed, will allow the district to establish a general capital reserve fund with a limit of $2.5 million.
Previously, the district operated a $1 million capital reserve fund, which was created in 1998. Attorneys for the district suggested the creation of the new fund, which will have a 10-year limit attached to it.
The 1998 fund guidelines referred to laws from the local municipalities. However, the new fund includes guidelines in concert with school district law.
Of the existing $1 million capital reserve, $800,000 will be moved to the new fund. (The other $200,000 would be used for the aforementioned bus purchases.) The district would then have a 10-year window in which it can make deposits into the fund.
By creating the new fund, the district would be simultaneously correcting an error from 15 years ago and increasing its capital reserve fund limit. The fund would then be available for any additions, alterations, renovations, or other improvements.
Also on May 21, four board seats will be up for election. Three three-year terms and one 1-year term are to be contested. Petitions to run for the board are due to the district office by Monday, April 22 at 5 p.m.