Funding for the $48 million project comes at no cost to local taxpayers.Sources of funding are:
EXCEL aid The district used $1,376,696 in EXCEL Aid that it is entitled to from the state's Expanding Our Children's Education and Learning program. EXCEL funding is separate from the state building aid the District receives. State building aid District receives NYS Education Department Building Aid on approved projects.District Reserve Funds:
Capital & TechnologyTechnology reserve fund: $2 million
Construction, reconstruction & repair reserve fund: $2.8 millionAccording to the District's financial advisor, Capital Markets Advisor, LLC, by leveraging the EXCEL Aid and Capital and Technology Reserves along with the Building Aid, the District could undertake a capital project in the amount of $48 million with ZERO COST impact to the NT taxpayers.