The Wantagh board of education approved a proposition calling for the vote last week. The fund can only be created if voters approve it, according to state law.
The district wants to create the fund, "to provide a means, separate from the annual budget, to fund repairs and renovations throughout the district," according to district spokeswoman Kathy Beatty.
"This would also eliminate the need to propose a bond. To include these additional expenditures within the regular annual school budget would greatly increase the budget and the impact to taxpayers. Establishing a capital reserve fund also permits the district to address these needs more quickly and receive state aid on the approved projects. "Among the repairs the reserve fund would pay for would be security enhancements; renovations related to the Americans with Disabilities Act; fine and performing arts; athletic field reconditioning; locker replacements; bathrooms; heating, ventilation and air conditioning repairs as well as upgrades; ceiling replacements; asphalt, concrete and paving; electrical upgrades; brick pointing and lintel repairs; tile abatement; and any other building and site improvements, Beatty said.
Even if voters approve the fund in March, a specific project list must be established and a second vote must be held to obtain voter approval to use the money from the fund for these specific projects.
That money will come from he end-of-year budget surplus and/or budget appropriations, including any interest accrued on the monies over the term of the capital reserve fund. The probable term of the fund would be five years with the principal amount not to exceed $5 million plus accrued interest, Beatty said.
Polls will be open to all registered voters on March 11, from 7 a.m. to 9 p.m.
The district will hold an informational meeting about the election on Feb. 26, at Wantagh High School at 7 p.m. Voter registration will take place on March 1, at the district’s administration office, 3301 Beltagh Ave., Wantagh, from 9 a.m.-1 p.m.