Town, Board of Ed build their capital reserve

The New Milford Board of Education's 2014 end-of-year balance of $680,562 was designated Nov. 24 to the town's capital reserve fund by the Town Council.

An educational grant higher than anticipated resulted in the larger balance.

That latest influx of funds elevated the Board of Education's balance in capital reserve to $1,789,650.

The town's end-of-year balance was designated to two accounts: $100,000 to the fire apparatus capital expenditure account and $200,000 to the capital reserve Fund.

The town's side of the capital reserve fund is now $1,103,290.