When we were saving for our playground, we put the money in 6 month CD's. We didn't want to tie it up for a year. We just rolled it over if we weren't ready to use it when it came due. It was nice to get a little extra cash out of the deal with the interest we earned.
Usually a project of this nature, like a playground or the nature trail, which is on town property, needs to be gifted to the town once complete. In this way upkeep responsibilities, safety and possibly liability becomes the town's responsibility.
That doesn't mean that you can't offer to help with the upkeep or imporevements down the road, similar to a playground cleanup day, but you should definitely ensure that this will be officially gifted once complete.
Check with your bBard of Ed. Although we fully paid for the playground equipment and basketball courts at our school, it was agreed upon with the board of education that they would maintain it. After all, we saved them 50K by making the purchase in the first place. So they will maintain it and continue to supply the woodchips and all. If your Board of Ed is willing to do the same, then you could allocate that for your next big project instead.
Making a positive difference one project at a time <img src=images/smilies/smile.gif>
I appreciate everyone's input here that has helped me to come to a conclusion to recommend at our PTO meeting next week. I plan to recommend we set aside two years' maintenance (wood chips & insurance deductible should equipment be damaged), add an extra bench and a few more plants to the garden and install a weather station then apply the balance of funds to the stage fund. The addition to the stage fund will allow us to complete that project as well - just in time for 6th grade graduation!
As far as setting money aside, should we put the money into 6 or 12 month Cd's since we won't be using it for a year? Any other investment ideas?
I hope every year we have to deal with having TOO much money!!!!
I would rather keep the $$ for maintaining the areas. First, though, I'd really amp up the butterfly garden and improve the original project in every way possible. Depending on your surplus, a couple hundred dollars in milkweed or parsley might barely be noticed but would really jump-start your butterfly population, for example.
(Butterfly Gardens happen to be my thing. )
If you don't expect too much from me, you might not be let down. <img src=images/smilies/smile.gif>
You make a great point about setting aside money for upkeep of the trail. Most school budgets are conservative when it comes to anticipated maintenance, it seems that way to me at least. Perhaps you can get your voting membership to approve a yearly disbursement that would cover the cost of mulch or whatever other upkeep would be useful. Holding onto the funds, but promising to spend it down over time, seems to me to be good stewardship of the money AND the project.
) 
