Facility Master Plan Fiscal Strategy
Facility Condition Educational Demographic Adequacy Analysis Facility Master Plan Next Steps Fiscal Strategy: • Facility Master Plan Financing • Integrate FMP into Long Term Financial Plan
Facility Master Plan Financing Goals and Assumptions • Facility Master Plan Financing (Phases I & 2) o Multi-year plan with inflationary costs built in o Includes borrowing costs – Debt financing of majority of plan costs o Fund facilities plan with appropriate resources (e.g. Food Service Fund, District maintenance funds, Current Referendum Funds, etc.) • Maintain and expand funds for instructional technology, safety & security, classroom furniture, and materials and equipment to support Academies and STEAM - $3 million annually • Stable property tax rate (Manage fluctuations) • Continued state equalization aid and school financing system • Tax base growth at average levels Aligns with Board of Education Guiding Change Document on Long-Range Budget and Fiscal Planning
Facility Master Plan Financing Baird Draft Financing Example
Proposed Phasing Plan Boundary Changes are Implemented Phase 1a Phase 1b Phase 1c Phase 1d Phase 1e Facility Master Plan Facility Master Plan Facility Master Plan Facility Master Plan Facility Master Plan Work Work Work Work Work - New School Construction - Major School Remodeling - Major School Remodeling - New School Construction - New School Construction & Expansion & Expansion - School Remodeling - School Remodeling & - School Remodeling & - Building Maintenance & Expansion Expansion - Building Maintenance & - Building Maintenance & Safety Safety Safety - Building Maintenance & - Building Maintenance & Safety Safety Facility Master Plan Facility Master Plan Facility Master Plan Financing Facility Master Plan Financing Sources Facility Master Plan Financing Financing Financing Sources - Financed Borrowing IV - Financed Borrowing I - Financed Borrowing IV - Financed Borrowing III - Financed Borrowing II - Current Ref. Funds - Current Ref. Funds - Current Ref. Funds - Current Ref. Funds - Current Ref. Funds - District Maint. Funds - Current Ref. Reserves - District Maint. Funds - District Maint. Funds - Financing Cash - District Maint. Funds - District Maint. Funds - Financing Cash - Financing Cash - Food Service Funds - Financing Cash - Financing Cash - Food Service Funds - Food Service Funds - Food Service Funds - Food Service Funds Multi-phase Implementation Plan to Increase Affordability Multiple sources of funding for plan Debt financing for projects – low borrowing costs Flexibility: Adapt funding type for needs
Facility Master Plan Financing Funding with Tax Rate Stability • Seek long term financing with stable tax rate • Recapture expiring tax levies currently used for facilities o Extend current $8.5 million/yr Referendum 15 years o Recapture Energy Efficiency tax levy – Currently $6.5 million o Recapture Aquatic Center construction levy - $2M to $7M • Recognize state equalization aid in financing facility master plan (Estimated $162 million over 25 years) • Recognize property tax base growth to maintain tax rate – 4% to 2%
Facility Master Plan Financing Funding with Tax Rate Stability Simulated Property Tax Rate - Financing Impact Over 25 Years $10.00 $8.00 $6.00 $4.00 $2.00 $0.00 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35 FY36 FY37 FY38 FY39 FY40 FY41 FY42 FY43 FY44 FY45 Community Srv Levy EEE Levy Curr. Ref. State Aid Tax Base Growth Fin Total Dist Tot
Recommend
More recommend
