The Altwood schoolboy memorial is to be replaced.
At a meeting on Friday it was decided an exact replica of the 4ft bronze would be created.
A fundraising campaign has now started in earnest to put The Companions back in its rightful place on Ray Mill Island, Maidenhead, by the end of next spring.
The original was stolen from the island at the end of October and only cut up parts have been found.
It was placed there to remember Lee Powell, 15, Andrew Watts, 14, Daniel Howton, 14 and Michael Taylor ,13 who died on trip to the Austrian Alps in 1988.
Families of the four boys have agreed a new bronze should be cast. It is expected to cost £10,000.
Altwood School has so far raised £400, including a £250 donation from the Louis Baylis (Maidenhead Advertiser) Charitable Trust.
The Royal Borough is due to set up an online donation page next week.
Meanwhile donations can be posted to Altwood CE School, Altwood Road, Maidenhead, SL6 4PU or taken to into reception.
Three men were arrested in connection with the theft.
Adam Brettell, 31, of Evenlode, has denied handling stolen goods and is due back at Slough Magistrates Court on January 6.
A 26-year-old man has been re-released on bail until Monday and a 24-year-old man was released without charge.
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Police officers can be seen at Ten Pin Bowling in Maidenhead tonight following an incident earlier today.