Source
Presenting the FY2024-25 town budget at the April 24, 2024 Board of Finance public hearing, the board explained the creation of the AES Capital Fund on the record: "we have also set up a capital fund for the Andover Elementary School. This is new, hasn't been funded in the past, but the reality is that we need a capital expenditure fund for the AES school. We do not have any mechanism currently significantly in place to fund capital improvements to the school, and this has become a real issue. We've got some parking lot problems, we've got some other infrastructure problems that really need to be dealt with at AES" (~10:08). The statement establishes both that the school had no capital funding mechanism of its own, and that the parking lot was among the problems the new fund was created to address.