The Contoocook Valley School Board voted in a split decision to retain 2.5% of its unassigned general fund reserves to safeguard the district against upcoming fiscal pressures, returning less money to taxpayers than a June policy amendment would have provided.

The vote reserves $1,174,025 for district contingencies and returns $4,458,537 to taxpayers to offset property taxes. ConVal district policy caps unassigned general fund retainage at 2.5% of the total budget, with …