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Home My WebLink About2011-10-12 Board of Selectmen PacketThe Town of Reading - Financial Forum nttp: / /www.reaajngma.gov/ .rages /t�cautttgtvtt�_1vlccutt�i aiivvi io Financial Forum Wednesday, October 12, 2011 at 7:30 PM Senior Center Printer - Friendly Version Joint meeting of the Finance Committee, Board of Selectmen, School Committee and Library Trustees to discuss the FY13 budget and other financial issues. Agenda 7:30pm Call to order & opening remarks (Marsie) 7:35 Review of revenue ideas from Instructional motion (Peter & John) 7:50 Project updates & financial tools for economic development (Jean) 8:00 Projected FY13 revenues (Gail) Google Search 8:05 8 -10 COMMON conimo,N'' QkuSE Recap of free cash and reserves (Gail) Update on Capital Use of one -time revenues (Peter) Library Project (Ruth or David) Killam elementary school (Mary) 8:40 Preliminary FY13 accommodated costs (Bob) 8:45 Discussion of use of free cash (All) 9:•15 FY13 Operating Budget guidance ( FINCOM) 9:20 Closing remarks (Marsie) 9:30 FINCOM Reserve Fund Transfer 9:35 FINCOM Minutes from July 25th & September 14th 9:40 Adjourn 10/8/2011 12:57 PI # Ideas That Received Votes A ONE TIME REVENUE 1 Sale of Town Land (Oakland Rd -last big parcel) ONGOING REVENUE B School and Town Land: Opportunities 2 Cell Towers 3 Advertising /Billboards 4 Wind /Solar Power Generation and Sell Back 5 Sell Timber in Town Forest C School and Town Facilities: Opportunities 6 Rental of existing space 7 Naming Rights D Fees: Introduce New Ones 8 Pay as You Throw Trash Fee 9 Preferred Parking Fees at RMHS N10 Billing At Fault Accidents 11 Wireless air rights billing E Economic Development 12 Town Economic Development /PR 13 Tax Incentives for New Business F New Initiatives 14 Grant Writers to Bring in $$ 15 Endowed Positions at Schools 16 Road Races Program 17 Reading Branded Credit Card 18 Remove state gas tax on Town G Fees: Increase existing 19 Parking Fee at Depot 20 Raise Parking Tickets & Fines / Parking Meters 21 Increase RMLD annual in lieu of Tax Payment 22 Increase Ice Arena payments H Gifts /Donations /Sponsorships 23 Sponsoring Town Trees, Benches, Lights, etc. 24 Focused Approach for Gifts /donations I Expand Service Offerings 25 Offer Ambulance Services to Other Towns Total Votes Revenue Enhancement Ideas from Reading Financial Forum September 15, 2010 Evaluation Criteria Opp Cost / Keep Ease to Implement Ongoing Community Unintened or Next Votes Revenue Implement Cost Cost Impact Consequences Responsibility Discard Steps 25 High Medium None TBD Varies by'lot Selectman Keep Nov. 2011 TM 49 20 Medium Low- Medium TBD TMgr /Selectman Keep 15 Medium TBD Selectman /SC Keep 9 RMLD Discard 5 Town Forest Comm. Keep Nov. 2011 TM 24 15 Low -Med. Medium Medium High Medium Medium Selectman /SC Keep 9 Low Medium Low Low Medium Political Selectman /SC Keep 18 6 High Low Medium Medium High Incr. Recycling Selectman Discard 6 Low Medium Low Low Low Incr. nbad pkng Schools 5 Med -low No Medium -High Staff time High Ins. Co. battles Public Safety Discard 1 17 12 Medium Requires $ Medium -High Yes Positive Selectman Keep 5 Selectman Discard 16 5 Selectman /SC Keep 5 no comps in MA - all answers are unknown Schools 3 Low High Low Low Low Low Recreation Keep 2 no comps in MA - all answers are unknown Selectman /SC 1 Legislators Discard 12 10 Selectman Keep BOS Oct 11th 1 Selectman Discard 1 Selectman Discard 0 Selectman Keep RFCZ Fall 2011 12 7 Selectman Keep 5 Selectman /SC Discard 6 6 Medium High High Medium none Selectman Keep 179 LOM UPDATES - items to move forward Votes Town 1 Sale of Town Land (Oakland Rd -last big parcel) 25 1 Right to sell certain parcels (including Oakland Road) - Article for Nov 2011 Town Meeting Town 2 Cell Towers 20 2 There is periodic interest in additional cell tower sites, but nothing pending right now Town 3 Advertising /Billboards 15 Selectmen Bonazoli & Goldy and the Town Manager met with Clear Channel. Based on state regulations there is only one location that is a 3 possibility, and it is not town - owned. The possibility of hosting on this site is still a potential with some revenue to the Town. Town 5 Sell Timber in Town Forest 5 5 Revolving fund for selling timber in town forests - Article for Nov 2011 Town Meeting Both 6 Rental of existing space 15 Rental of existing space - the Town and Schools both rent space. Rental sometimes conflict with Town use. For Town buildings the rents are $10 6 per 4 -hour block plus a custodial fee if needed. Rental is restricted to Town non - profits. Facility Rentals -As for facility rental, our school facilities have a 92% utilization rate for non - school hours (3:00 to 9:00) p.m. A large portion of that utilization includes extended day and after school enrichment programs, our athletic and extracurricular programs, adult education programs, and Reading recreation programs. Gymnasium space is now virtually entirely booked months in advance. Last year we did experiment with some innovative revenue sharing arrangements, which we are approaching the first year of implementation. There are only two auditoriums of interest to renters - High School and Parker. The High School auditorium is nearly completely scheduled and, in fact, there are groups who want to use this facility that we cannot accommodate due to the HS drama and band schedule as well as recurring rental commitments. Parker is very heavily used but the major complaint from adult groups is that the seats are too small. Also, the stage is not ideal for dance performances except the younger children. Last year, we implemented an aggressive campaign to attract colleges and universities to use our facilities for evening classes or satellite campus. Unfortunately, we did not get any interest due in large part to the rapid growth of on -line learning. We have lots of information on our website for those who might want to conduct classes, workshops, or conferences. We have occasional conferences, but nothing regular. One significant obstacle to increasing rentals is the fact that we have just 0.25 FTE of staff time dedicated to this effort. If the community wishes to increase revenue from facility rentals, we would have to re- examine the use of the facilities by Reading Recreation and invest more resources to staff a facility rental coordinator position. Both 7 Naming Rights 9 Naming Rights of Facilities -We have been unable to find any company in the area who is interested in paying a fee to have a facility named. In addition, most of our higher profile locations have been named or are likely to be named in the next year or two. These are subject our new school 7 committee policy on naming of facilities. Town 12 Town Economic Development /PR 12 Town Economic Development /PR - Town staff and the EDC continue to work to bring new businesses to Reading, with a great deal of success. 12 There is a huge amount of new construction in the commerical sector going on, and there are other possibilities being worked on. Both 14 Grant Writers to Bring in $$ 5 The Town and Schools use a grant - writer for targeted strategic programs - the most recent being cooperative ventures between the Town and 14 Schools on public safety and security issues Town 16 Road Races Program 3 There are many road races in Reading. The one at the Fall Street Faire is run by the Town and receipts go into the Downtown Improvement and 16 Event Trust Town 19 Parking Fee at Depot 10 19 Parking Fee at Depot - BOS to discuss October 11, 2011 Town 22 Increase Ice Arena payments 0 The next lease for the Ice Arena will be going out to bid in the fall 2011. It is important that the lesee make sure that adequate capital funds are 22 available to properly maintain the building. The Town of Reading is one of the largest renters of ice time. Both 23 Sponsoring Town Trees, Benches, Lights, etc. 7 The Town has a robust program of residents and businesses adopting trees, benches, etc.. Memorial Park is a prime example. Playgrounds are 23 always adopted to supplement Town funding. Town 25 Offer Ambulance Services to Other Towns 6 This could be a future step in regionalization of some services, but it would have to be stuidied carefully to make sure that revenues exceed 25 expenses by some level that would make it worthwhile. We could not do this with current staffing and equipment. H HPDATES - items to discard RMLD 4 Wind /Solar Power Generation and Sell Back 9 Wind /Solar Power Generation and Sell Back - technology and geography makes this uneconomic in Reading. The cost of solar is currently 4 prohibitive without a very heavy subsidy. Town 8 Pay as You Throw Trash Fee 6 Pay as You Throw Trash Fee - In 1993 BOS committed to voters that if they passed a Prop 2 -1/2 override there would never be anopther trash fee. 8 It passed, and the current rubbish and recycling program generates significant savings due to it's success. Town 10 Billing At Fault Accidents 5 10 Billing At Fault Accidents - Police have researched, no instances of success in MA Town 13 Tax Incentives for New Business 5 Tax Incentives for New Business - Reading does not qualify for state programs for tax incentives, nor has the Town needed incentives to bring in significant development. The Town Planner will discuss further at the October Fin'I Forum the poor long -term track record of economic incentives 13 but present some efforts that would help attract and retain businesses. Town 18 Remove state gas tax on Town 1 18 This is a federal and state issue that is beyond the Town's control . or influence Town 20 Raise Parking Tickets & Fines / Parking Meters 1 Parking tickets at $20 are high enough. Parking meters would represent a significant capital investment and may be detrimental to business 20 downtown Town 21 Increase RMLD annual in lieu of Tax Payment 1 The RMLD Earnings Distribution has been studied many times. The current formula and rate of payment represent good value for the Town and in 21 addition we receive top quality and reliability at a very low price. Street light rates have been reduced for FY12. Both 24 Focused Approach for Gifts /donations 5 The Town has not hired a 'rain maker' nor is that an appropriate use of Town funds. When a donation is made to the Town, 100% of the donation 24 goes to the Town. rage i ul i LeLacheur., Bob From: recapdata @dor.state.ma.us Sent: Tuesday, September 27, 2011 4:07 PM To: LaPointe, Gail; Reading - Selectmen; Heffernan, Nancy; Finance; Hechenbleikner, Peter Subject: Freecash Approval Notification for Reading Massachusetts Department of Revenue Division of Local Services Navjeet K Bal, Commissioner Robert G. Nunes, Deputy Commissioner & Director of Municipal Affairs Tuesday, September 27, 2011 Gail LaPointe Accountant Town of Reading Re: NOTIFICATION OF FREE CASH APPROVAL - Reading Based upon the unaudited balance sheet submitted, I hereby certify that the amount of available funds or "free cash" as of July 1, 2011 for the Town of Reading is: General Fund $ 5,499,128 Water Enterprise Fund $ 1,436,630 Sewer Enterprise Fund $ 1,187,837 Stormwater Enterprise Fund $ 376,011 This certification is in accordance with the provisions of G. L. Chapter 59, §23, as amended. Certification letters will be e- mailed to the mayor /manager, board of selectmen, prudential committee, finance director and treasurer immediately upon approval, provided an e -mail address is reported in DLS' Local Officials Directory. Please forward to other officials that you deem appropriate. Sincerely, Gerard D. Perry Director of Accounts This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the system manager at postmaster at dor.state.ma.us. 9/27/2011 6 v No Al GPA A3 A4 A5 Revenue Update October 3, 2011 Town of Reading One Year One Year One Year Revenues - Details Current Projected Changes Projected Changes Projected Changes 10112/1112:08 PM FY - 2011 FY -2012 FY - 2012 FY-2013 I FY - 2013 FY-2014 I FY - 2014 Property Taxes Tax levy (within levy limit) 49,274,826 50,878,533 3.3% 52,406,747 3.0% 53,973,165 3.0% New Growth 362,768 250,000 - 31.1% 250,000 0.0% 250,000 0.0% Tax levy (debt exclusion) 2,086,657 2,059,719 -1.3% 2,030,650 -1.4% 2,030,650 0.0% Abatements and exemptions 526,683 539,850 2.5% 553,346 2.5% 567,180 2.5% Total Property Taxes 51,197,568 52,648,402 2.8%1 54,134,050 2.8%1 55,686,635 2.9% Other Local Revenues Motor Vehicle Excise 2,936,623 2,700,000 -8.1% 2,800,000 3.7% 2,900,000 3.6% Meals Tax 172,770 200,000 15.8% 225,000 12.5% 250,000 11.1% Penalties /interest on taxes 192,636 145,000 - 24.7% 175,000 20.7% 175,000 0.0% Payments in lieu of taxes 327,291 315,000 -3.8% 325,000 3.2% 325,000 0.0% Charges for services 1,502,913 1,475,000 -1.9% 1,475,000 0.0% 1,475,000 0.0% Licenses & permits 156,138 156,000 -0.1% 135,000 -13.5% 135,000 0.0% Special Assessments 1,543 10,000 548.1% 10,000 0.0% 10,000 0.0% Fines 111,590 130,000 16.5% 110,000 -15.4% 110,000 0.0% Interest Earnings 355,700 200,000 -43.8% 225,000 12.5% 225,000 0.0% Medicaid Reimbursement 112,468 70,000 -37.8% 100,000 42.9% 100,000 0.0% Other 381,722 Total Other Local Revenues 6,251,394 1 5,401,000 .13.6%1 5,580,000 3.3%1 5,705,000 2.2% Intergovernmental Revenue State Aid 12,462,792 12,307,474 -1.2% 12,300,000 -0.1% 12,300,000 0.0% Federal ARRA /State refund 350,000 198,264 - 100.0% 0.0% 0.0% MSBA 462,036 462,036 0.0% 462,036 0.0% 462,036 0.0% Total Inter ov't Revenues 13,274,828 12,967,774 -2.3% 12,762,036 -1.6% 12,762,036 0.0% Operating Transfers and Available Funds 25,000 0.0% 25,000 0.0% 25,000 0.0% Cemetery sale of lots 25,000 Sale of real estate funds 300,000 300,000 0.0% 250,000 - 16.7% 200,000 - 20.0% Reading Ice Arena Authority 95,000 100,000 5.3% 100,000 0.0% 100,000 0.0% MSBA payments 696,990 720,070 3.3% 743,150 3.2% 743,150 0.0% RMLD earnings distribution 2,171,880 2,205,957 1.6% 2,261,106 2.5% 2,306,328 2.0% Enterprise Fund Support 756,069 756,069 0.0% 748,508 -1.0% 748,508 0.0% Sick buy -back Stabilization 19,615 Overlay surplus 204,827 -100.0%1 150,000 100.0%1 150,000 100.0% Total Transfers & Available 4,269,381 4,107,096 -3.8%1 4,277,764 4.2% 4,272,986 -0.1% OPERATING REVENUES 74,993,171 75,124,272 0.17% 76,753,851 2.17% 78,426,658 2.18% Free Cash & Savings 1,490,000 863,309 TOTAL REVENUES 76,483,171 75,987,581 -0.65% 76,753,851 1.01% 78,426,658 2.18% FY12 increased by $200,000 FYI increased by $50,000 FYI decreased by $200,000 FYI one -time refund $200,000 00 Revenue Update October 3, 2011 Town of Reading lAccorn Costs - Summary One Year One Year One Year 10/1211112:08 PM Current Projected Changes Projected Changes Projected Changes No. FY - 2011 FY - 2012 FY - 2012 FY-2013 I FY - 2013 FY-2014 I FY - 2014 12,845,486 9.7% B Benefits 11,712,081 13,843,791 7.8% 14,967,236 8.1% C Capital 1,273,000 948,000 - 25.5% 1,500,000 58.2% 1,800,000 20.0% D Debt 6,158,003 6,063,446 1.5% 5,644,235 6.9% 5,409,911 -4.2% E Energy 2,382,073 2,004,400 - 15.9% 2,135,887 6.6% 2,296,078 7.5% F Financial 620,000 716,000 15.5% 740,000 3.4% 757,000 2.3% G Education - Out of district 3,702,751 3,841,067 3.7% 3,859,320 0.5% 4,107,386 6.4% H Education - Vocational 327,946 419,343 27.9% 424,227 1.2% 445,438 5.0% J Miscellaneous 2,841,367 2,832,307 -0.3% 2,928,077 3.4% 3,008,835 2.8% K Community Priorities $ 125,000 TOTAL Accommodated COSTS $ 29,142,221 1 $ 29,670,049 1.8% $ 31,075,536 4.7% $ 32,791,884 5.5% ccom Costs - Detail B Accommodated Costs - Benefits B1 Group Health / Life Ins. 7,625,000 8,562,500 12.3% 9,418,750 10.0% 10,360,625 10.0% OPEB 25,000 0 - 100.0% 0 100.0% 25,000 100.0% B2 Workers Compensation 305,000 325,000 6.6% 341,250 5.0% 358,313 5.0% 33 Police / Fire Indemnification 57,750 60,000 3.9% 65,000 8.3% 70,000 7.7% B4 Contributory Retirement 2,893,456 3,022,986 4.5% 3,128,791 3.5% 3,238,298 3.5% 35 Non- Contrib. Retirement 73,500 75,000 2.0% 65,000 - 13.3% 65,000 0.0% B6 Medicare / Social Security 607,375 650,000 7.0% 675,000 3.8% 700,000 37% 67 Unemployment Benefits 125,000 150,000 20.0% 150,000 0.0%1 150,000 0.0% B99 Total Benefits $ 11,712,081 1 $ 12,845,486 9.7% $ 13,843,791 7.8% $ 14,967,236 8.1% C +C 5% of net available revs 3,586,647 3,593,423 3,675,234 3,758,875 Energy Savings to pay debt service $ 319,735 $ 300,000 $ 300,000 above the $ 300,000 above the 3,906,382 3,893,423 3,975,234 4,058,875 less debt (net, inside levy) (2,897,776) (2,807,632) (2,395,068) (2,160,744) Available for cash capital 1,008,606 1,085,791 1,580,166 1,898,131 C Accommodated Costs - Capital C99 Total Capital $ 1,273,000 1 $ 948,000 .25.5%1 $ 1,500,000 58.2%1 $ 1,800,000 20.0% D Accommodated Costs - Debt (net, inside levy limit) 4,185,000 0.5% 3,915,580 -6.4% 3,715,580 -5.1% D1 Debt Service - Principal 4,165,000 D2 Debt Service - Interest 1,993,003 1,878,446 -5.7% 1,728,655 -8.0% 1,694,331 -2.0% D3 Excluded debt (2,798,191) (2,793,778) -0.2% (2,787,131) -0.2% (2,787,131) 0.0% D4 MSBA reimbursements (462,036) (462,036) 0.0% (462,036) 0.0% (462,036) 0.0% Total Included Debt $ 2,897,776 1 $ 21807,632 -3.1%1 $ 2,395,068 -14.7%1 $ 2,160,744 -9.8% D99 Total Debt $ 6,158,003 1 $ 6,063,446 .1.5%1 $ 5,644,235 -6.9%1 $ 5,409,911 -4.2% 5% 73,504,684 m Revenue Update October 3, 2011 Town of Reading A Costs - Detail One Year One Year One Year 1011211112:08 PM Current Projected Changes Projected Changes Projected Changes No. FY - 2011 FY - 2012 FY - 2012 FY - 2013 I FY - 2013 FY-2014 I FY - 2014 E Accommodated Costs - Energy E1 Street Lighting 241,500 203,575 - 15.7% 200,000 -1.8% 215,000 7.5% E2 Heating of Buildings -Town 143,250 87,700 - 38.8% 94,278 7.5% 101,348 7.5% E3 Heating of Buildings - Schools 760,000 467,115 - 38.5% 502,149 7.5% 539,810 7.5% E4 Utilities -Town 178,800 187,950 5.1% 202,046 7.5% 217,200 7.5% E5 Utilities - Schools 837,193 761,730 -9.0% 818,860 7.5% 880,274 7.5% E6 Fuel - vehicles (in DPW budget) 221,330 296,330 33.9% 318,555 7.5% 342,446 7.5% E99 Total Energy $ 2,382,073 1 $ 2,004,400 - 15.9% $ 2,135,887 6.6%1 $ 2,296,078 7.5% F Accommodated Costs - Financial F1 Casualty Insurance 320,000 316,000 -1.3% 340,000 7.6% 357,000 5.0% F2 Veteran's Assistance 150,000 250,000 66.7% 250,000 0.0% 250,000 0.0% F3 FINCOM Reserve Fund 150,000 150,000 0.0% 150,000 0.0% 150,000 0.0% F99 Total Financial $ 620,000 $ 716,000 15.5% $ 740,000' 3.4% $ 757,000 2.3% G Accommodated Costs - Education Out of district 893,000 -0.2% 937,650 5.0% 984,533 5.0% G1 Out of district SPED transportation 895,000 G2 Out of district SPED tuition 3,849,751 3,832,067 -0.5% 4,023,670 5.0% 4,224,854 5.0% G3 Out of district SPED rev. offsets (709,292) (884,000) 24.6% (1,102,000) 24.7% (1,102,000) 0.0% G4 Out of district SPED carry forward G5 ARRA IDEA Funds 332,708 G99 Total Education - Out of distr. $ 3,702,7511 $ 3,841,067 3.7%1 $ 3,859,320 0.5%1 $ 4,107,386 6.4% H Accommodated Costs - Education Vocational School H1 Vocational School Assessments - N.E. 327,946 270,692 - 17.5% 284,227 5.0% 298,438 5.0% H2 Vocational School Assessments - M.M 0 148,651 100.0% 140,000 -5.8% 147,000 5.0% H99 Total Education - Voke $ 327,946 $ 419,343 27.9% $ 424,227 1.2% $ 445,438 5.0% J Accommodated Costs - Miscellaneous J1 Rubbish Collection / Disposal 1,560,770 1,496,676 -4.1% 1,530,000 2.2% 1,530,000 0.0% J2 Snow and Ice Control 525,000 565,000 7.6% 600,000 6.2% 650,000 8.3% J3 State Assessments 568,602 585,870 3.0% 615,164 5.0% 645,922 5.0% Cemetery 186,995 184,761 -1.2% 1821 913 -1.0% 182,913 0.0% J4 Salaries and Wages 148,226 145,661 -1.7% 144,204 -1.0% 144,204 0.0% J5 Expenses 38,769 39,100 0.9% 38,709 -1.0% 38,709 0.0% J99 Total Miscellaneous $ 2,841,367 $ 2,832,307 -0.3% $ 2,928,077 3.4% $ 3,008,835 2.8% ncreased by $100,000 0 �o�N oFq qo� �O R a �J9'IHCOPp� P Financial Forum October 12, 2011 Scenario #1: No Reserves Used Figures in ($OOOs) FYI FYI FYI FYI FYI Projected Revenues 75,126 76,755 78,426 80,387 82,798 Reserves /NAR 9.8% 2.2% 2.2% 2.5% 3.0% Accommodated Expenses 29,670 31,106 32,879 34,523 36,249 4.8% 5.7% 5.0% 5.0% Left for Operating Budgets 46,337 45,649 45,547 45,864 46,549 -1.5% - 0.2/0 0.7% 1.5% Free Cash Used Resulting Operating Budgets 46,337 45,649 45,547 45,864 46,549 -1.5% -0.2% 0.7% 1.5% Net Adjusted Revenue 71,901 73,530 75,201 77,162 79,573 Reserves 7,079 7,079 7,079 73079 7,079 Reserves /NAR 9.8% 9.6% 9.4% 9.2% 8.9% FRFgp y0 t e � 6j9'IN[ORp�p' Financial Forum October 12, 2011 Scenario #2: Target Operating budgets at +l% each year Figures in ($000s) FY12 FY13 FY14 FY15 FY16 Projected Revenues 75,126 76,755 78,426 80,387 82,798 5.6% 3.1% 2.2% 2.2% 2.5% 3.0% Accommodated Expenses 29,670 31,106 32,879 34,523 36,249 4.8% 5.7% 5.0% 5.0% Left for Operating Budgets 46,337 45,649 45,547 45,864 46,549 -1.5% -0.2% 0.7% 1.5% Free Cash Used 1,150 1,700 1,850 1,650 Resulting Operating Budgets 46,337 46,799 47,247 47,714 48,199 1.0% 1.0% 1.0% 1.0% Vet Adjusted Revenue 71,901 73,530 75,201 77,162 79,573 deserves 7,079 5,929 4,229 2,379 729 Reserves /NAR 9.8% 8.1% 5.6% 3.1% 0.9% OFRFq��H sJS'INCOA.�p' Financial Forum October 12, 2011 Scenario #3: Target use of free cash 77,162 Figures in ($000s) FY12 FY13 FY14 FY15 FY16 Projected Revenues 75,126 76,755 78,426 80,387 82,798 4.8% 2.2% 2.2% 2.5% 3.0% Accommodated Expenses 29,670 31,106 32,879 34,523 36,249 4.8% 5.7% 5.0% 5.0% Left for Operating Budgets 46,337 45,649 45,547 45,864 46,549 -1.5% -0.2% 0.7% 1.5% Free Cash Used 1,000 1,000 750 500 Resulting Operating Budgets 46,337 46,649 46,547 46,614 47,049 0.7% -0.2% 0.1% 0.9% Net Adjusted Revenue 71,901 73,530 75,201 77,162 79,573 Reserves 7,079 6,079 5,079 4,329 3,829 Reserves /NAR 9.8% 8.3% 6.8% 5.6% 4.8% 10/12/2011 I.W. Milam somontary School Building Renovation Pnloct September 2011 • Constructed 1968 -69 • 57,000 Square Feet • 24 Classrooms • 447 Students • 59 Employees • Over $2,000,000 in repairs and improvements over past several years • No major ` renovation" or "modification" work I.W. Milam School Facts Work to a building that represents 30% or more of the assessed value requires full compliance with 521 CMR (AAB Rules and Regulations) Window component of green repair project had to be shelved as threshold would have been triggered No improvements to the building can be made for three years unless accessibility is addressed Future access by students with disabilities may be limited Accessibility Improvements category cost % Toilet Rooms S 858,566 715% Sinks in Classrooms S 88,064 To% Doors 5 74,394 6.3% Cateteria/Stage S 53,213 4.5% Sunken Areas S 36,963 3.1% Entrances /Exits 5 34,232 2.9% Signage S 15.326 L3% Courtyard Access 5 11,262 10% Parking & Sidewalks 5 8D55 0.7% Dispensers S 4,475 0.4% $1,184,550 Accessibility Improvements Required • Sprinkler System • Main Office Renovation/Expansion • Window Replacement • Gymnasium Floor Replacement Additional Improvements 10/12/2011 4 Potential project Budget CbnStUCSlbn COSt $ 1,185,000 Architect/Englneering 5 124,000 0wner5 Project Manager $ 72,000 C1 A of Che WOrx5 5 40,000 hlOUing Expe— S. 34,000 Bontl Costs 5 18,000 Retmbursa Oles 8 M�scen4neous $ 7.000 Project Contingency (10%1 5 120,000 5 1,600,000 $tope Creep /EnhanCemenrs 5 200,000 TOTAL POTENTIAL SUDG ET Is 7.8801000 Total Estimated Proioet Budget • Sprinkler System • Main Office Renovation/Expansion • Window Replacement • Gymnasium Floor Replacement Additional Improvements 10/12/2011 4 10/12/2011 • May be eligible for MSBA funding • Reimbursement rate 47.2 1 % • Some or all of main office work may not be eligible Project Cost & Funding • November 2011: Presentation to Subsequent Town Meeting • November - December 2011: Complete Statement of Interest and file with MSBA • Winter 2011 /Spring 2012: Obtain funding approval from community, obtain Project Funding Agreement, hire Architect and OPM • Spring/Summer 2012: Feasibility study, design and construction documents • Fall 2012: Bidding and contract award • Winter 2012 /Spring 2013: Begin handicap accessibility improvements • Summer/Fall 2013: Sprinkler system installation, main office renovation, window replacement, gymnasium floor replacement Potential Timeline AMA¢b Why 5 I,a0oA0D Potential Project Cost: WN&,SysWe s esopoo Min OAks Ilnovat ar. 5 1,33530) $4,918,800 xnaown,p+reaeK s a�om Crprrwaam iwor s.....lasm � �91M00 • May be eligible for MSBA funding • Reimbursement rate 47.2 1 % • Some or all of main office work may not be eligible Project Cost & Funding • November 2011: Presentation to Subsequent Town Meeting • November - December 2011: Complete Statement of Interest and file with MSBA • Winter 2011 /Spring 2012: Obtain funding approval from community, obtain Project Funding Agreement, hire Architect and OPM • Spring/Summer 2012: Feasibility study, design and construction documents • Fall 2012: Bidding and contract award • Winter 2012 /Spring 2013: Begin handicap accessibility improvements • Summer/Fall 2013: Sprinkler system installation, main office renovation, window replacement, gymnasium floor replacement Potential Timeline NAME (please print) �+2�a � ✓�/1 J SIGN -IN SHEET FOR THE BOARD OF SELECTMEN'S MEETING OF L h ,-= gft-f Z� (I fK ADDRESS = " e "d " - - r � SCHOC) L Con1AA1 rri�; t, v�