Gilbertsville-Mount Upton thanks district residents for voting to approve three propositions and two Board of Education members Tuesday, May 16.
Proposition 1: Proposed School Budget
Voting: 86 YES, 20 NO
RESOLVED, that the basic budget for the Gilbertsville-Mount Upton Central School District (“District”) for the fiscal year commencing July 1, 2023 and ending June 30, 2024, as presented by the Board of Education in the amount of $11,050,000 is hereby approved and adopted and the required funds therefore are hereby appropriated and the necessary real property taxes required shall be raised by a tax on the taxable property in the District to be levied and collected as required by law.
Capital Reserve Fund
Voting: 87 YES, 19 NO
RESOLVED, that the Board of Education of the Gilbertsville-Mount Upton Central School District is hereby authorized to establish a capital reserve fund pursuant to Section 3651 of the Education Law. This fund will assist the district in planning for infrastructure upgrades while minimizing the burden on taxpayers. The capital reserve fund can be compared to a savings account which can only be used for capital improvements conducted with voter authorization. The funding comes from budget savings and unappropriated fund balances from the general fund. Balances can only be transferred to the capital reserve fund with approval from the Board of Education. In order to accomplish the same, said Board is hereby authorized to establish the ultimate amount of such Reserve Fund not to exceed $750,000, plus accrued interest and other investment earnings thereon, with a probable term of ten years. If approved, this resolution shall take effect immediately and will have no impact on the tax levy.
Proposition 3: Capital Project
Voting: 80 YES, 26 NO
RESOLVED, the Gilbertsville-Mount Upton Central School District, Otsego and Chenango Counties, New York, shall be authorized to construct improvements to and reconstruct the School District building and campus facilities, including site improvements, original furnishings, equipment, machinery, apparatus, appurtenances, and incidental improvements and expenses in connection therewith, at a maximum estimated cost of $5,200,000, and that $116,147 of 2015 Capital Reserve Fund monies, $500,000 of 2016 Capital Reserve Fund monies, and $383,853 of available monies shall be expended therefor, and that the remaining $4,200,000 or so much thereof as may be necessary, shall be raised by the levy of a tax upon the taxable property of said School District and collected in annual installments as provided by Section 416 of the Education Law; and in anticipation of such tax, obligations of said School District shall be issued. The School District has determined said capital project is a “Type II Action” pursuant to the regulations of the New York State Department of Environmental Conservation promulgated pursuant to the State Environmental Quality Review Act (“SEQRA”) based upon 6 NYCRR Part 617.5(c)(1), (2) and (10) (previously (8)), which as such will not have any adverse environmental impacts.
Proposition 4: Election of Two Board of Education Members
Voting: Jed Barnes, 94 votes; Christopher Ostrander, 89 votes
Both were elected to three-year Board of Education terms commencing on July 1, 2023.