CIP Fund Balances

Sunapee School District Capital Improvement Plans May 14, 2024

Below is a list of the established Capital Reserve Funds and their intended use. The CIP committee meets regularly to review and plan for major capital improvements needed and a potential time for starting and completing projects. Depending on the scope and cost of these projects, additional financial support may be required from individual warrant articles, public hearings on expenditures, contingency accounts, end-of-year funds, yearly budgets, or grants. Our facility department continuously works on preventive maintenance for each facility each year.

Sunapee Middle High School Roof Capital Reserve Funds
Current Balance: $133,756
Cap: $550,000
This fund is designated for the ongoing preventive maintenance of the SMHS roof. The projected cost for full replacement of the entire flat roof is $500,000. Currently, we conduct yearly inspections and monitoring for heat loss, leaks, and breakdowns. Additionally, infrared thermal scans are performed to identify issues, and specific sections requiring improvements are addressed and warrantied by the installer for an additional 20 years. While this system keeps our roofs functioning correctly, a major roof replacement solely based on age will eventually be necessary.

Sunapee School Building Capital Reserve
Current Balance: $201,762.74
Cap: $350,000
This fund is allocated for improvements to any of the 4 Sunapee School District facilities (Sunapee Central Elementary, Middle/High, Sherburne Gym, or SAU building), addressing issues both inside and outside our facilities including doors, glass, flooring, roofing, siding, staircases, electrical, and plumbing. This year, up to $75,000 will be utilized from this fund to replace the second-floor windows at SCES.

Sunapee Central Elementary School Capital Reserve
Current Balance: $4,159.94
Cap: $1000
This fund was established to assist in planning and developing improvements to the elementary school. The majority of the remaining funds were used to address safety issues at SCES with the development of new parking and playground areas. This account has not been funded over the last 10 years due to the creation of the School Building Account above and will not be funded at this time due to the passing of the renovation project.

Sunapee Middle High School Heating Ventilation, Circulation Capital Reserve
Current Balance: $ 25,397.13
Cap: $300,000
This reserve is designated for the replacement of 3 HVAC units on the roofs, along with the installation of a uniform set of controls once all systems are installed, estimated to cost $600,000+. Voters approved a $1.2 million Biomass project to replace failing oil boilers at SMHS.

Sunapee Grounds Capital Reserve
Current Balance: $76,191.39
Cap: $250,000
This newly established account will address any issues with the grounds of the school facilities. Planned projects include improvements to fields at SMHS, ADA access to fields, as well as paving, striping, or erosion issues, anticipated 1-2 years out.

Sunapee Central Elementary School Educational Space Renovation Reserve
Current Balance: $ 76,191.39
Cap: $300,000
This account will facilitate continuous improvement to educational spaces in SCES. The CIP committee is developing a scope of work for upgrades to each classroom over the next 4 years, including flooring, millwork, sink and bathroom upgrades, and ADA compliance.

Sunapee Contingency Fund
Current Balance: $ 350,000.00
Cap: $600,000
Approved by voters, this fund allows the district to retain 5% of the current fiscal year's net assessment to cover unanticipated expenses. These funds can be used during project work to cover unexpected costs or to offset tax impacts. The Board approved spending up to $200,000 from this fund to cover substantial impacts to our Special Education budget in OFD costs.