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Project Funding

ORIGINAL APPROVED PROJECT FUNDS

$13,950,000

State Building Aid Portion

$11,620,350

Capital reserve Fund Portion

$2,329,650

Additional Tax Levy Portion

$0.00

If Approved... Project Funding Increases?

IF APPROVED... PROJECT FUNDING INCREASES

$3,950,000

State Building Aid Portion

$3,200,000

Capital Reserve Fund Portion

$750,000

Additional Tax Levy Portion

$0.00

APPROVED ADDITIONAL PROJECT FUNDS

$17,900,000

State Building Aid Portion

$14,820,350

Capital Reserve Fund Portion

$3,079,650

Additional Tax Levy Portion

$0.00

The table above explains the breakdown of funding for the capital project.  Facts you should be aware of:

1.  The district generates approximately 83% New York State Building Aid on this project.

2.  The District maintains a separate Capital Reserve Fund for projects of this nature.

3.  The Capital Reserve Fund would cover the local share of this capital project.

4.  The project was designed so as not to impact local taxes.

5.  Using funds from the Capital Reserve, there would be no local tax increase because of this project.


 SF Project Slideshow presentation