Welcome
Why are we here? Malcolm Public Schools is going to be doing a construction project and we are looking for your input regarding some funding options. This project is not an attempt to grow the school — we are replacing some of our portable classrooms in an attempt to improve security and eliminate the need for costly maintenance and upgrades to the portables. In addition, our special education program is in need of a larger area that can house large pieces of equipment, tables, and rehabilitation devices.
PART 1: How did we get here? • We anticipated this growth in 2005 (failed a bond referendum), and added two portables (four classrooms). • The need grew in 2008 (failed a bond referendum), and added two more portables (four more classrooms)
How did we get here? (cont.) – Our needs remain high • Classrooms to replace the portables • Special Education Room • New Roof • New entry at the elementary school (security concerns) • Cover the north wall • Security camera system – Future needs • Space for an early childhood program • Carpet in the elementary school • Continual maintenance and replacement of heat pumps • New entry at the high school – Wants • Auditorium/performing arts center
In addition, we are not getting smaller Student Growth 550 536 540 523 530 520 509 508 510 500 483 490 481 480 476 475 475 480 470 Student Growth 458 455 454 460 450 442 440 430 420 410 400
Option Enrollment Option enrollment seemed to be the biggest concern during the failed bond referendums of 2005 & 2008 Option Enrollment Facts: • Nebraska State Statute 79-236: Beginning with the 1993-94 school year, the enrollment option program SHALL be implemented by all public school districts. • MPS net option funding dollars for 2017-2018: $1,447,911 • MPS does not advertise for option students • MPS currently has four classes that are full and capped for 2017-2018 and we are not looking to add sections any time soon.
Potential Village Growth • 11 New Homes on Education Drive and NW 112 th Street. • Potential Subdivision on the East Side of Malcolm. • ????
PART 2: School District Revenue Local Property Tax State Aid (TEEOSA) Federal Aid Non-Bonded Revenue General Fund Special Building Fund Depreciation Fund Bonded Indebtedness QCPUF General Obligation
Personal Impact 2016-2017 Levy Information for MPS .907194 General Fund .138385 Special Building Fund .054230 97’ General Obligation Bond .020558 QCPUF 2011 .008910 QCPUF 2013 1.129276 Total Levy
Personal Impact (cont.) 1.129276 Levy (Residential) $200,000 Home (($200,000/100)*1.129276 Levy)= $2258.55 1.129276 Levy (Ag Land) $500,000 Ag Land $500,000 * .75=$375,000 (($375,000/100)*1.129276 Levy)= $4234.79
Levy Numbers from 2016-2017 Fund Rate 1) General Fund 0.907194 2) Special Building 0.138385 3) 97' Bond 0.05423 4) QCPUF 2011 0.020558 4) QCPUF 2013 0.00891 Total 16-17 Levy 1.129276
Option #1 Fund Rate 1) General Fund 0.907194 2) Special Building 0.138385 3) 97' Bond 0 4) QCPUF 2011 0 4) QCPUF 2013 0.00891 Using the 16-17 numbers, the following would represent the 1.054489 potential levy after the 97' Bond and 11' QCPUF come off. Option #1 represents the status quo. Depending on the district valuation, we would fully fund the General Fund and the Special Building fund at $1.05. With the 97’ Bond and the 2011 QCPUF coming off, patron would realize a $0.074787 savings.
Option #2 Fund Rate 1) General Fund 0.907194 2) Special Building 0.05 3) Cooperative Construction 0.07 4) 97' Bond 0 5) QCPUF 2011 0 5) QCPUF 2013 0.00891 Using the 16-17 numbers, the following would represent the potential levy after the 97' Bond and 11' QCPUF come off, 1.036104 we drop the Special Building to .05, and fund the Cooperative Construction project at .07. Option #2 represents a $3.5 million building project funded by the Public Facilities Construction and Finance Act. Depending on the district valuation, we would reduce our Special Building Fund by $0.088385. With the 97’ Bond and the 2011 QCPUF coming off, patron would realize a $0.093172 savings. However, this is a 20 year general obligation bond. You save money in the short term, but pay later.
Option #3 Option #3 could look a lot of different ways, but ultimately it would be a combination of option #1 and option #2. For example, if we wanted to pay down the debt on the bonds quicker, we could increase the tax asking in the special building fund (short term) and pay it off in 7-19 years.
Lancaster County Levies/Valuation LANCASTER ( 55 ) Valuation General Bond Building Qualified Total 1.0450 0.1588 0.0050 0.0309 1.2397 19,461,814,212 LINCOLN PUBLIC SCHOOLS 1.0120 0.1307 0.0317 0.0363 1.2107 1,675,398,220 WAVERLY SCHOOL DISTRICT 145 0.9072 0.0542 0.1384 0.0295 1.1293 342,261,084 MALCOLM PUBLIC SCHOOLS NORRIS SCHOOL DIST 160 1.0192 0.1069 0.0153 0.0112 1.1526 1,386,805,332 0.9755 0.1399 0.0302 0.0053 1.1509 701,470,511 RAYMOND CENTRAL PUBLIC SCHOOLS
Levy/Valuation for Similarly Sized Schools Nearest to Malcolm Valuation General Bond Building Qualified Total CENTENNIAL PUBLIC 0.3739 0.0538 0.0314 0.0141 0.4732 1,608,315,723 SCHOOLS DAVID CITY PUBLIC 0.6647 0.0000 0.0878 0.0292 0.7817 1,346,767,283 SCHOOLS TRI COUNTY PUBLIC 0.5904 0.0000 0.0079 0.0000 0.5983 974,388,311 SCHOOLS WAHOO PUBLIC 0.9244 0.0882 0.1240 0.0157 1.1523 972,609,566 SCHOOLS ASHLAND- 0.9050 0.0780 0.0350 0.0000 1.0180 731,158,541 GREENWOOD PUBLIC SCHS RAYMOND CENTRAL 0.9755 0.1399 0.0302 0.0053 1.1509 701,470,511 PUBLIC SCHOOLS WILBER-CLATONIA 0.8321 0.0749 0.0375 0.0277 0.9722 674,332,829 PUBLIC SCHOOLS MILFORD PUBLIC 0.9525 0.0331 0.0000 0.0000 0.9856 635,157,943 SCHOOLS PALMYRA DISTRICT 0.9055 0.1475 0.0483 0.0000 1.1013 525,154,636 O R 1 MALCOLM PUBLIC 0.9072 0.0542 0.1384 0.0295 1.1293 342,261,084 SCHOOLS
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