Residents in the Town of Webb UFSD will go to the polls on Tuesday, May 20 to vote on the 2014 to 2015 budget, two seats on the board of education, and a general capital reserve fund proposition. Voting will take place from 2 to 9 p.m. in the school gymnasium.
The four propositions that will be put before voters are:
Proposition #1 – 2014-2015 Budget
Should the Board of Education be authorized to spend $8,109,420 for the coming school year, 2014-2015, and to levy taxes on properties within the Town of Webb UFSD to offset said expenditures?
Proposition #2 – Board of Education Write-In Candidate to serve the remainder of one (1) five-year term running May 20, 2014 until June 30, 2018.
This candidate’s name will be written in by the voter at the top of the voting machine face by pushing the cover to area #1 upward and writing the candidate of your choice into the exposed area.
Sliding cover #1 is larger than the other covers but should only be used to write in one candidate, specifically your choice to fill remainder of the five-year term vacated by a former board member.
Proposition #3 – Board of Education Write-In Candidate for one (1) five-year term running July 1, 2014 until June 30, 2019. This candidate’s name will be written in by the voter at the top of the voting machine face by pushing the cover to area #2 upward and writing the candidate of your choice into the exposed area. Sliding cover #2 should only be used to write in one candidate, specifically your choice to fill a full five-year term on the Board of Education.
Proposition #4 – Establishment of General Capital Reserve Fund.
Should the Board of Education be authorized to establish a Capital Reserve Fund not to exceed $1,000,000 to be funded by the District from existing appropriated funds on hand and to be expended only upon future voter approval(s), for the purpose of financing either the full or partial costs of any capital addition, improvement or other object or purpose for which the District would otherwise be able to seek and issue bonds pursuant to the local finance law, and to replenish payments therefore for subsequent years by yearly levy upon taxable real property of the district at a rate not to exceed $200,000 per annum, with the proposed term of such fund being twenty (20) years?
The above proposition is asking voters to cast their vote to allow the Board of Education to establish a “savings fund” in an effort to minimize impact and fluctuation of the tax rate associated with future building projects which are anticipated to maintain our campus.
This fund, if approved by the voters, would have money placed in it from monies that may be realized as unexpended funds at the end of a budgetary cycle.
The Board of Education would be allowed to put up to $200,000 per year of unexpended funds available into this fund, beginning this year, with the balance of the fund being capped at a maximum of $1,000,000.
If established the maximum life of the fund would be 20 years. The Board of Education would also have to obtain voter approval to expend the monies in this fund if it is allowed to be established.
