SLIDE 1
Facility Master Plan
Facility Condition Demographic Analysis Educational Adequacy
Fiscal Strategy:
- Facility Master Plan Financing
- Integrate FMP into Long Term Financial
Plan
Next Steps
Facility Master Plan Fiscal Strategy Facility Condition - - PowerPoint PPT Presentation
Facility Master Plan Fiscal Strategy Facility Condition - - PowerPoint PPT Presentation
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
SLIDE 2
SLIDE 3
Facility Master Plan Financing
Goals and Assumptions
- Facility Master Plan Financing (Phases I & 2)
- Multi-year plan with inflationary costs built in
- Includes borrowing costs – Debt financing of majority of plan costs
- 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
SLIDE 4
Facility Master Plan Financing
Baird Draft Financing Example
SLIDE 5
Proposed Phasing Plan
Phase 1a
Facility Master Plan Work
- New School Construction
- School Remodeling
- Building Maintenance &
Safety
Facility Master Plan Financing Sources
- Financed Borrowing I
- Current Ref. Funds
- Current Ref. Reserves
- District Maint. Funds
- Financing Cash
- Food Service Funds
Phase 1b
Facility Master Plan Work
- New School Construction
- School Remodeling &
Expansion
- Building Maintenance &
Safety Facility Master Plan Financing Sources
- Financed Borrowing II
- Current Ref. Funds
- District Maint. Funds
- Financing Cash
- Food Service Funds
Phase 1c
Facility Master Plan Financing
- Financed Borrowing III
- Current Ref. Funds
- District Maint. Funds
- Financing Cash
- Food Service Funds
Facility Master Plan Work
- New School Construction
- School Remodeling &
Expansion
- Building Maintenance &
Safety
Phase 1d
Facility Master Plan Work
- Major School Remodeling
& Expansion
- Building Maintenance &
Safety Facility Master Plan Financing
- Financed Borrowing IV
- Current Ref. Funds
- District Maint. Funds
- Financing Cash
- Food Service Funds
Phase 1e
Facility Master Plan Work
- Major School Remodeling
& Expansion
- Building Maintenance &
Safety Facility Master Plan Financing
- Financed Borrowing IV
- Current Ref. Funds
- District Maint. Funds
- Financing Cash
- Food Service Funds
Boundary Changes are Implemented
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
SLIDE 6
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
- Extend current $8.5 million/yr Referendum 15 years
- Recapture Energy Efficiency tax levy – Currently $6.5 million
- 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%
SLIDE 7
$0.00 $2.00 $4.00 $6.00 $8.00 $10.00
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
Simulated Property Tax Rate - Financing Impact Over 25 Years
Community Srv Levy EEE Levy
- Curr. Ref.
State Aid Tax Base Growth Fin Total Dist Tot
Facility Master Plan Financing
Funding with Tax Rate Stability