When Huntington School District residents go to the polls on Tuesday, May 15, they will be asked to vote on a pair of capital reserve fund propositions in addition to the 2018/19 budget and trustee candidates.
If approved by voters, the first of two capital reserve proposals will fund an estimated $7.151 million worth of projects spread across the district’s school buildings. The proposition carries no tax rate impact since the monies to fund it are already contained in an existed reserve account specifically established to cover costs with renovation and reconstruction work.
The district is currently eligible to be reimbursed by the state for 37.2 percent of final costs associated with the projects.
The projects that will be on the May 15 ballot include:
Flower Hill Primary School
• Install a security vestibule addition: $100,000
• Replacement of the building’s roof: $1,560,000
Jefferson Primary School
• Replacement of the building’s roof: $1,500,000
• Tile replacement in two student and three faculty bathrooms: $65,000
Southdown Primary School
• Replacement of the building’s roof: $1,560,000
Washington Primary School
• Install a security vestibule addition: $100,000
Woodhull Intermediate School
• Replace two boilers: $800,000
• Tile replacement in 12 classroom bathrooms: $36,000
• Renovate and repave the parking lots: $705,000
J. Taylor Finley Middle School
• Replace floor tiles and install new seating in the LGI/Auditorium: $600,000
Huntington High School
• Replace two “roll-up” doors: $125,000
Total: $7,151,000 (Estimated and subject to bidding.)
Huntington UFSD’s use of capital reserve funds has allowed the district to avoid borrowing large sums of money, incurring interest costs and accumulating debt. The district currently has less than $2 million in long-term debt, which is substantially below virtually every other Long Island school district.
If residents approve the proposition on May 15, the district’s architectural and engineering firm will develop designs for each of the projects and submit the plans to the State Education Department for its approval. Once SED gives the green light, the district will seek bids for the work. Huntington UFSD officials are hopeful that the bids will come in below estimates, lowering the final cost of the projects.
Capital Reserve Proposition No. 2
The second capital reserve proposition seeks permission to create a new 2018 Building Improvement Fund for the purpose of completing capital improvements to the district’s facilities, including repairs and reconstruction (as needed) to the turf athletic field at Huntington High School along with masonry and site work. The new fund would have a probable term of five years and an ultimate capitalization of $1.5 million.
A transfer of current Repair Reserve Fund monies, surplus budget funds, interest and regular budget appropriations would be used to capitalize the new fund. This fund would utilize existing budget monies and allow the district to avoid borrowing funds through a bond issue and associated interest costs.
