WINDSOR -- Selectmen will be asked to officially move the Reed Fund assets, valued at more than $150,000, to an education foundation that voters agreed to create in February.

The move to the educational fund would protect the Reed Fund from being included in the inventory of assets for the proposed new eight-town regional school unit that includes Windsor, according to Selectman Tom Birmingham.

"The purpose is to shelter those assets from any regional school unit in which Windsor would participate," Selectman Jerry Nault said.

The foundation was established in accordance with a new law that allows the town to accept donations to support local education. Selectmen and Budget Committee members previously had voted unanimously to support the fund's move.

The incorporators are Robert Moody, Windsor School's principal; Selectman Jerry Nault and Town Manager Carl Pease. On Monday, they signed the papers establishing the Windsor Education Foundation, adopting corporate bylaws and a statement of investment policies.

"Windsor has been innovative and responsible with its use of the Reed Fund on behalf of our youth and taxpayers, and this action will allow that good stewardship to continue," Nault said Monday.

Most recently, Birmingham said, some $4,000 from the Reed Fund was used to allow the art teacher at Windsor Elementary School to expand her program.

Pease said the Reed Fund was founded in 1952 by T.D. Reed and has been managed by Cantella & Co. Inc. in Augusta.

Mechele Cooper -- 623-3811, Ext. 408

mcooper@centralmaine.com