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Home My WebLink About2012-10-10 Finance Committee PacketR Toz eLa'-"()di*ng,.- .'17a.ssacl:trsefts A9 �•.�:.,� Google Search Financial Forum Wednesday, October 10, 2012 at 7:00 PM Senior Center Printer - Friendly Version Joint meeting of the Finance Committee, Board of Selectmen, School Committee and Library Trustees to discuss the FY14 budget and other financial issues. Agenda Call to order & FINCOM opening remarks Recap of FY13 revenues (� Recap of free cash and reserves Gc-�b�'171� TI yu s Projected FY14 revenues Preliminary FY14 accommodated costs Discussion: Use of free cash FY14 Operating Budget guidance Update on Projects Library Killam Elementary School Full Day Kindergarten °\ FINCOM closing remarks Town of Reading, Massachusetts 16 Lowell Street, Reading, MA 01867 Website Disclaimer Virtual Towns & Schools Website Nov Gf of 1 10/2/2012 1:36 PM To: Reading Town Meeting members Subject: October Financial Forum and other community meetings From: Bob LeLacheur, Assistant Town Manager /Finance Director Date: September 28, 2012 This email is to update Town Meeting members of four important community meetings to be held during the month of October, as well as to seek volunteers to serve on the Finance Committee. On Wednesday October 10`h at the Senior Center (49 Pleasant Street) at 7:00pm the Finance Committee, Board of Selectmen, School Committee and Board of Library Trustees invite you to attend their annual Fall Financial Forum and help kick off the formal budget process for FY14. In addition, this year there are three important community-wide topics that will be discussed: an update on the status of the Library renovation project; an update on the Killam Elementary School renovation project; and the impacts of and plans to address a recent vote by the School Committee to pursue Full Day Kindergarten, as well as space needs created by other programmatic changes. An agenda for the Financial Forum may be found at this link: http: / /www.readingma og v/Pages/ReadinpMA MeetingCal/S01967D2F- 01967E 14 ?formid =161 On Tuesday October 16`h at the Senior Center at 7:30pm the Conservation Commission invites you to attend an overview and opportunity for public comment on draft Conservation Commission Local By -Law Regulations which have been revised to streamline and simplify requirements especially for residential properties. On Monday October 22nd at the Senior Center at 7:30pm the Town Forest Committee invites you to attend a Natural Resource Inventory and Conservation Vision Public Forum. Liz Newlands of the Massachusetts Audubon Ecological Extension will present preliminary findings of field work, interviews, and research completed during the spring and summer. This is an opportunity to hear how the study has progressed and to have a voice in future planning for this important town owned open space resource. Finally, on Tuesday October 30`h at the Senior Center at 7:30pm the Community Services Department invites you to attend an Open Space & Recreation Plan Public Meeting. This will include an overview of a draft updated plan which is a requirement of the State to be eligible for certain open space and recreation grants. Be part of an open dialogue about the Town's efforts to date and plans for the future. The Finance Committee is actively seeking two additional members for their nine - member committee. Please look at the Town's website for more details on the role and responsibility of the Finance Committee at this link: httt):// www .readinizma.izov/Pa2es/ReadinizMA BComm /finance. Meetings are held on the second Wednesday night of each month, and more often during the budget deliberations in March or as needed. For further information, please contact either Finance Committee Chair David Greenfield (dereenfieldAstatestreet.com) or Assistant Town Manager/Finance Director Bob LeLacheur ( blelacheur(a)ci.readina.ma.us). ..... xw-A, — —u -,S - i ii um,ai a'vi Lun of') nLLP: www. reaaingma. gov/ rages/ KeaaingiviA _meetinguati�,uigoIL)2.. Financial Forum Wednesday, October 10, 2012 at 7:00 PM Senior Center Printer- FriendN Version Joint meeting of the Finance Committee, Board of Selectmen, School Committee and Library Trustees to discuss the FY14 budget and other financial issues. Agenda Call to order FINCOM Chairman Opening remarks Town Accountant �— Review of FY12 reverues & expenses Google Search Recap of FY13 revenues - adjustments at Nov TM Recap of Free Cash (estimate) - inlcude adjustments at Nov TM CcV-;ON CAUSE Finance Director /ATM Projected FY14 revenues Projected FY14 accommodated costs COMMON CAUSE'��l /i'� All Discussion: Use of free cash in FY14 oudget FINCOM FY14 Operating Budget guidance Town Manager /School Superintendent Update on pending major capital projects a. Library b. Killam Elementary School c. Full Day Kindergarten /School space needs All Consideration of forming a School Building Committee FINCOM Chairman Closing remarks 0 T! Town of Reading FYI & FY14 Budgets Financial Forum October 10, 2012 � a � Financial Forum Agenda October 10, 2012 FINCOM Opening Remarks — David Greenfield Financial Updates Review of FY12 Revenues & Expenses — Sharon Angstrom Update for FY13 Revenues & Free Cash estimate — Sharon Angstrom Projected FY14 Revenues & Accommodated Costs — Bob LeLacheur Use of Free Cash in FY14 Budget -All FY14 Operating Budget guidance — FINCOM Major Capital Projects Public Library — Peter Hechenbleikner & Ruth Urell School space needs — Dr. John Doherty & Mary DeLai Killam Elementary School — Dr. John Doherty & Mary DeLai School Building Committee - All FINCOM Closing Remarks - David Greenfield FINCOM Opening Remarks David Greenfield, Chair FY14 Budget Public Meetings in 2013 January 10 (Thurs) SC 7:00pm at RMHS January 14 (Mon) SC 7:00pm at RMHS January 15 (Tues) BOS 7:00pm location TBA January 17 (Thurs) SC 7:00pm at RMHS January 22 (Tues) BOS 7:00pm location TBA January 24 (Thurs) SC 7:00pm at RMHS — Public Hearing January 28 (Mon) SC vote 7:00pm at RMHS Feb. 27th to Mar. 27'h(Weds) FINCOM 7:30pm location TBA April 2 (Tues.) Local Elections April 22 Annual Town Meeting begins FY12 Revenues Sharon Angstrom, Town Accountant Total $1 million over estimates Property taxes (new growth) +$239k `Property taxes (delinquent) +$124k *State Aid (refund of state surplus) +$198k Meals tax +$123k *FEMA FY11 storm reimbursement +$100k *MIIA participation credits +$ 94k Federal medical reimbursement +$ 80k Motor Vehicle Excise taxes +$ 51 k *Various refunds of prior year expenses +$ 37k *one -time payments +$553k 2 2 MIMIM FY12 Expenditures Sharon Angstrom Total $1 million under budget *Snow /Ice -$202k Town Salaries -$170k Employee Benefits -$156k Various Other Town Accounts -$151k Rubbish disposal -$112k FINCOM Reserve Fund -$ 74k Gasoline -$ 70k Facilities -$ 52k Schools -$ 13k *typically a —$500k deficit in prior years r.. r'� FY13 Revenues & Expenses Sharon Angstrom Projected Revenue changes +$1.014mil. New growth (estimated) +$200k Interest earnings (lower balances &rates) - $100k MV Excise taxes - $ 50k State Aid (net of assessments) +$655k Smart Growth payment +$309k 3 3 FY13 Revenues & Expenses Sharon Angstrom Projected Changes to Expenses (Art. 5 *) $288k Police officer & RCASA $100k Town Manager transition & Other $ 98k Capital $ 90k Projected Transfers from GF $359k To Smart Growth 40R Stab. Fund (Art. 7 *) $309k To SickNacation Stabilization Fund (Art. 8 *) $ 50k *November Town Meeting actions (estimate) FY13 Revenues & Expenses Sharon Angstrom GF Revenues +$1,014k GF Expenses -$288k Transfers out from GF -$359k +$367k net surplus Free Cash used in FY13 budget $1.0 million - 367k $ 633k 4 4 Reserves — October 2012 Sharon Angstrom Free Cash 6/30/12 $ 6,000,000(est.) General Stabilization Fund $ 1,545,414* FINCOM Reserves $ 120,000 TOTAL $ 7.6 million is --10% of estimated $76 million FY14 projected net available revenue *total excludes funds designated for specific purpose Projected FY14 Revenues Bob LeLacheur, ATM & Finance Director Property Taxes $55.8 million +2.6% assumes strong $650k new growth Local Revenues $ 5.6 million +3.0% flat except meals & excise taxes State Aid $13.0 million unch. State FYI YTD revenues below budget Transfers /Available $ 4.9 million +8.5% large last MSBA payment on debt exclusion TOTAL REVENUES $79.2 million +2.6% 5 5 Projected FY14 Accommodated Costs Bob LeLacheur $14.1 mil +6% *Benefits $ 0.2 mil +3% Capital & Debt $ 2.0 mil +4% Energy $ 0.7 mil +1% Financial $ 3.6 mil +9% Education — out of district SPED $ 0.3 mil +5% Education —Vocational $ 3.0 mil +4% Miscellaneous $30.4 mil +4.8% * *Total Accommodated Costs * Health Insurance +8% plus 5% OPEB cushion * *total excludes FY13 or FY14 community priorities 6 6 Projected FY14 Operating Budgets Bob LeLacheur FY13 FY14 Change • Revenues $77.2mil $79.2mil +2.6% + free cash 0.6 77.7 79.2 +1.9% • Accom. Costs 29.1 30.4 +4.9% • *Operating 48.6 48.8 +0.4% *includes FY13 substance abuse prevention community priorities 6 6 I ,�, =61 Use of Free Cash in FY14 Budgets • Revenues Economic development = new growth Meals Tax State Aid = annual wildcard /negative Federal outlook Prop 2 -1/2 override "every ten years" (1993, 2003 ...) • Accommodated Costs Health Insurance plan design changes Special Education emphasize in- district Performance Contracting Debt refinancing :Ofc. Use of Free Cash in FY14 Budgets • Sustainable Revenues +2.7% • Accommodated Costs +4.2% = Annual (growing) Funding Gap of $1.25 million . d 'rs t d 7 7 Use of Free Cash in FY14 Budgets Free Cash Operating Budgets Ending Used FYI FYI 5-17 Resrvs $ - 0.4% 1.9% 10.8% $ 500 1.5% 1.9% 9.5% $ 1,000 2.5% 1.9% 7.5% $ 1,500 3.5% 1.9% 5.6% 1yr ago FYI FY14 -16 $ - -1.5% 0.7% 8.9% 8 8 Town of Reading RESERVES at June 30, 2012 Sale of Real Estate (at June 30 with next FY commitment) Stabilization Funds Smartgrowth Incentive Payment Employee Buy -backs General Certified "free cash" July 1, 2010 and FY2011 Free Cash Used for FY2012 and FY2013 operations * *Reserves available for 5% Fincom Policy 5% of FY13 Net Available Revenue 2011 2012 704,822 457,031 700,000 369,000 5,488 30,553 1,539,334 '* 1,545,414 '* 4,953, 340 5,499,129 (1,482,309) 3,471,031 '* (1,532,256) 3,966,873 ** Before FY12 Certification 5,512,287 ** 3,738,480 1,773,807 Historic Regeneration of reserves 2007 2008 2009 2010 2011 2012 Revenues: Variance from original budget Property taxes: 452,017 331,359 669,720 262,633 141,899 363,476 Motor Vehicle Excise taxes - 43,330 - 78,255 - 149,039 82,330 486,623 50,982 Meals Tax 32,770 123,293 Per1Qt ies and interest on taxes 7,489 22,443 26,454 - 49,528 47,636 27,401 Payments in lieu of taxes 22,646 40,169 38,565 23,270 12,291 31,853 Charges for services 347,376 - 119,217 37,838 - 94,337 61,721 92,603 Licenses and permits -4,942 19,207 68,156 25,594 138 9,923 Intergovernmental (includes State Aid & Medicaid Reimb) 650,035 276,926 - 594,392 - 315,500 89,716 256,712 Special assessments 53 -2,682 -2,376 -252 -1,457 -8,972 Fines 8,440 1,272 - 18,108 - 40,297 - 18,410 - 14,475 Investment income 1,263,497 1,007,946 - 95,185 - 59,403 - 29,728 - 38,794 Other 73,284 206,218 64,436 107,877 303,377 140,983 Total revenue variance from budgeted amount 2,776,565 1,705,386 46,069 - 57,613 1,126,576 1,034,985 Property taxes: Property Taxes collected will be more than budgeted because of our conservative estimates in the growth on new taxable properties Motor Vehicle Excise taxes MV Excise was at 2.9 million for 5 years then dropped to 2.7 million in 2009 and 2.5 million in 2010 Back up to 2.9 in 2011 down again in 2012 to 2.8 million. Meals Tax 8 months est at 140k Actual was 172k for 2011. In 2012 a conservative estimate was made given the lack of historical data resulting in a $123k surplus. Penalties and interest on taxes Penalties and interest are dependent on who decides to pay off old tax liabilities and therefore, very unpredictable. Charges for services Charges for services include Permits from the inspection department which are dependent on economic conditions Intergovernmental (includes State Aid & Medicaid Reimb) State Aid is not known during the budget development. 2009 had 9c Cuts (Mid year cuts made by Gvnrs office.) In 2012, there was a one time state aid surplus pmt of 198K. Investment income Interest rates for this 5 year period went from 6% to less than 1%. We earn interest on money we borrow for projects (eg High School Const, Energy Improvements) We do not include interest on borrowed funds when budgeting revenues because it is not sustainable Other Other income includes one -time, unanticipated, non - recurring, inconsistent revenues. Insurance Dividends, MIIA rewards, legal settlements, reimbursement of prior year expenditures 10/10/2012 Copy of FY2012 Budget to actual variances Expenditures: Variance from original budget 2007 2008 2009 2010 2011 2012 General government 46,569 150,011 200,599 221,803 182,290 134,225 Public safety 68,518 162,442 104,639 117,993 66,062 54,142 Education 46,884 99,145 213,378 286,158 77,137 64,565 Public works and facilities 100,117 137,804 143,191 189,609 246,162 534,225 Human services -1,949 18,356 3,216 27,353 21,062 44,607 Culture and recreation 7,353 7,334 47,342 23,654 12,303 7,302 Employee benefits 42,723 125,138 1,119,740 214,982 180,834 156,621 Intergovernmental 5,476 -957 -6,027 50,717 - 26,494 14,385 Debt service 875 -1,893 56,982 19,844 4,558 41,758 Total expenditure variance from budget amount 316,566 697,380 1,883,060 1,152,113 763,914 1,051,830 Sum of Revenue & Expenditure Variances 3,093,131 2,402,766 1,929,129 1,094,500 1,890,490 2,086,815 General government FinCom Reserve Fund unspent FY09 100K FY10 80K FYI 100K,Ins Claims 12K, FY12 74K Public safety Unused Fire Dept Sick buyback, Unused OT Police /Fire /Dispatch Education FY09 hold back to cover reduction in State Aid - Fy10 Energy savings unspent to cover the Energy Improvement Loan Interest. FY12 $52K in unused extraordinary repairs (facilities). Public works and facilities FY08 Woodland Easement Project low bids saved $50,000, FY09, FY10, FYI 1, FY12 Gasoline prices down - saved over 50K each year, trash less tonnage saved 47K in Fy09, 70K in FY10, 70K in FYI 1, 112K in FY12. - Snow /Ice also came in $202K under in FY12 due to a mild winter. - Unfilled positions in DPW Mechanic and Cemetary skilled labor in FY12 Human services Unfilled position in Elder Services and Health in FY12 there is leftover Veteran's Aid of $27K. Culture and recreation FY09 Unfilled Position in Parks Employee benefits FY09 ARRA funds paid Teacher Health Insurance to offset State Aid Reduction $994,000 -FYI 1 Worker Comp 50k Health ins 33k Towns Match for Medicare 50k -FY12 Worker Comp 17k Health ins 62k Towns Match for Medicare 26k, Unemployment 44k, Life Insurance 17k, Noncontrib Benefits 11K, Police /Fire Indemification 19K Intergovernmental FY10 Regional School Assessment lower than budgeted - less enrollment. FYI Charter /School Choice Assessments Debt service FY09 Orig Budget Included estimates for refinancing school debt, FY10 est int expense on Energy Improvement Debt FY12 41 K of interest savings attributable to refinancing of long term debt. operatinq budqets =_> 3.60% r 2.50% 1.85% 1.70% 1.55% 1.70% Town of Reading Budget Summary Current One Yr Changes Projected One Yr Changes One Yr Changes One Yr Changes One Yr Changes One Yr Changes 1011011212:54 PM FY-2013 FY-2-0n FY - 2014 FY - 2014 FY15 - 57,609,638 FY - 201 3.3% FY16 - 59,490,438 FY - 2016 3.3% FY17 -- 61,191,359 FY - 2017 2.9% FY18 62,934,803 FY - 2018 2.8% avenues 54,349,272 3.2% 55,789,355 2.6% Total Property Taxes Total Other Local Revenues 5,440,000 0.7% 5,605,000 3.0% 5,750,000 2.6% 5,920,000 3.0% 6,090,000 2.9% 6,285,000 3.2% Total lntergov'tRevenues 12,955,108 -0.1% 13,000,000 0.3% 13,325,000 2.5% 13,658,125 2.5% 13,999,578 2.5% 14,349,568 2.5% Total Transfers & Available 4,471,704 8.9% 4,850,828 8.5% 3,920,061 - 19.2% 3,833,538 -2.2% 3,765,001 -1.8% 3,798,501 0.9% Revenues before Free Cash $ 77,21 084 2.8% $ 79,245,184 2.6% $ 80,604,699 1.7% $ 82,902,101 2.9% $ 85,045,938 2.6% $ 87,367,872 2.7% Free Cash 556,742 - 35.5% 1,000,000 79.6% 1,000,000 0.0% 750,000 -25.0% 750,000 0.0% 750,000 0.0% Net Available Revenues $ 77,772,826 2.3% $ 80,245,184 3.2% $ 81,604,699 1.7% $ 83,652,101 2.5% $ 85,795,938 2.6% $ 88,117,872 2.7% JACCOMMOdated GOStS 13,329,635 3.7% 14,128,150 6.0% 15,093,132 6.8% 15,970,681 5.8% 16,919,094 5.9% 17,875,008 5.6% Benefits Capital 1,937,700 104.4% 2,207,000 13.9% 1,916,000 - 13.2% 2,050,000 7.0% 2,150,000 4.9% 2,350,000 9.3% Debt 4,539,575 - 25.1% 4,380,600 -3.5% 3,775,030 - 13.8% 3,555,757 -5.8% 3,445,159 -3.1% 3,327,574 -3.4% Energy 1,911,168 -4.7% 1,944,508 1.7% 2,022,288 4.0% 2,103,180 4.0% 2,187,307 4.0% 2,274,799 4.0% Financial 740,000 3.4% 750,000 1.4% 758,750 1.2% 767,719 1.2% 776,912 1.2% 786,335 1.2% Education - Out of district 3,344,235 - 12.9% 3,649,713 9.1% 3,832,199 5.0% 4,023,809 5.0% 4,224,999 5.0% 4,436,249 5.0% Education - Vocational 325,000 - 22.5% 341,250 5.0% 354,900 4.0% 369,096 4.0% 383,860 4.0% 399,214 4.0% Miscellaneous 2,898,937 3.2% 3,005,353 3.7% 3,088,651 2.8% 3,173,098 2.7% 3,258,716 2.7% 3,321,115 1.9% Community Priorities 0 0 0 0 0 Annual Accommodated Costs $ 29 026,250 -2.1% $ 30,406,574 4.8% $ 30,840,950 1.4% $ 32,013,340 3.8% $ 33,346,046 4.2% $ 34,770,295 4.3% Stabilization Fund 0 0- 100.0% 0- 100.0% 0- 100.0% 0- 100.0% 0- 100.0% Net Accommodated Costs $ 29,026,250 -2.1% $ 30 406,574 4.8% $ 30,840,950 1.4% $ 32,013,340 3.8% $ 33,346,046 4.2% $ 34,770,295 4.3% NOTE: Schools assume circuit breaker adjustment for FY12 Operating os s - MunicipalGo'vtOperating 14,543,129 3.6% 15,237,299 2.5% 15,519,189 1.9% 15,783,015 1.7% 16,027,652 1.6% 16,300,122 17% adjustments (comm. priority) 322,528 adjustments (ent funds overhead) 771,190 2.0% 790,470 2.5% 805,094 1.9% 818,780 1.7% 831,472 1.6% 845,607 1.7% TOTAL Muni Government 15,636,848 5.7% 16,027,769 2.5% 16,324,283 1.9% 16,601,796 1.7% 16,859,123 1.6% 17,145,728 1.7% School & Bldgs Operating 32,049,069 3.6% '' 33,357,533 2.5% 33,974,647 1.9% 34,552,216 1.7% 35,087,775 1.6% 35,684,267 1.7% adjustments (comm. priority) 494,865 Schools circuit breaker adjustment for FYI TOTAL School & Bldgs 32,543,934 4.5% 33,357,533 2.5% 33,974,647 1.9% 34,552,216 1.7% 35,087,775 1.6% 35,684,267 1.7% Town Bldgs Operating Target 439,499 3.6% 450,487 2.5% 458,821 1.9% 466,621 1.7% 473,853 1.6% 481,909 1.7% TOTAL Town Bldgs 439,499 3.6% 450,487 2.5% 458,821 1.9% 466,621 1.7% 473,853 1.6% 481,909 1.7% School, Town, Buildings $ 48,620,281 4.9% $ 49,835,788 2.5% $ 50,757,750 1.9% $ 51,620,632 1.7% $ 52,420,752 1.5% $ 53,311,905 1.7% Municipal Go'vt Operating 32.16% 32.16% 32.16% 32.16% 32.16% 32.16% School & Bldgs Operating 66.93% 66.93% 66.93% 66.93% 66.93% 66.93% Town Bldgs Operating Target 0.90% 0.90% 0.90% 0.90% 0.90% 0.90% TOTAL EXPENSES L2 +OC4 $ 77,646,531 2.4% $ 80,242,363 3.3% $ 81,598,700 1.7% $ 83,633,972 2.5% $ 85,766,798 2.6% $ 88,082,200 2.7% $ 2,821 $ 5,999 $ 18,129 $ 29,140 $ 35,672 April + Nov TMs April + Nov TMs N Town of Reading One Yr One Yr One Yr [_ One Yr One Yr One Yr Revenues - Details Approved FY-2013 Changes FY-2W Projected FY - 2014 Changes FY - 2014 FY15 Changes FY - 201 FY16 Changes FY - 2016 FY17 Changes FY - 2017 FY18 Changes FY - 2018 1011011212:54 PM Property Taxes Tax levy (within levy limit) 52,483,622 3.2% 54,256,962 3.4% 56,279,636 3.7% 58,199,127 3.4% 60,166,605 3.4% 61,927,021 2.9% New Growth 450,000 38.5% 650,000 44.4% 500,000 -23.1% 500,000 0.0% 250,000 -50.0% 250,000 0.0% Tax levy (debt exclusion) 2,030,650 -1.4% 1,512,768 - 25.5% 1,476,136 -2.4% 1,453,598 -1.5% 1,453,598 0.0% 1,453,598 0.0% Abatements and exemptions 615,000 2.5% 630,375 2.5 % 646,134 2.5% 662,288 2.5% 678,845 2.5% 695,816 2.5% Total Property Taxes 54,349,272 3.2% 55,789,355 2.6% 57,609,638 3.3%1 59,490,438 3.3% 61,191,359 2.9% 62,934,803 2.8% Other Local Revenues Motor Vehicle Excise 2,750,000 1.9% 2,825,000 2.7% 2,900,000 2.7% 2,975,000 2.6% 3,050,000 2.5% 3,150,000 3.3% Meals Tax 235,000 17.5% 300,000 27.7% 325,000 8.3% 350,000 7.7% 375,000 7.1% 400,000 6.7% Penalties /interest on taxes 175,000 20.7% 175,000 0.0% 180,000 2.9% 185,000 2.8% 190,000 2.7% 200,000 5.3% Payments in lieu of taxes 325,000 3.2% 325,000 0.0% 335,000 3.1% 345,000 3.0% 355,000 2.9% 360,000 1.4% Charges for services 1,475,000 0.0% 1,500,000 1.7% 1,525,000 1.7% 1,575,000 3.3% 1,625,000 3.2% 1,675,000 3.1% Licenses & permits 135,000 -13.5% 135,000 0.0% 140,000 3.7% 145,000 3.6% 150,000 3.4% 155,000 3.3% Special Assessments 10,000 0.0% 10,000 0.0% 10,000 0.0% 10,000 0.0% 10,000 0.0% 10,000 0.0% Fines 110,000 -15.4% 110,000 0.0% 110,000 0.0% 110,000 0.0% 110,000 0.0% 110,000 0.0% Interest Earnings 125,000 -37.5% 125,000 0.0% 125,000 0.0% 125,000 0.0% 125,000 0.0% 125,000 0.0% Medicaid Reimbursement 100,000 42.9% 100,000 0.0% 100,000 0.0% 100,000 0.0% 100,000 0.0% 100,000 0.0% Other Total Other Local Revenues 5,440,000 0.7%1 5,605,000 3.0%1 5,750,000 2.6%1 5,920,000 3.0%1 6,090,000 2.9%F 6,285,000 3.2% Intergovernmental Revenue 12,955,108 5.3% 13,000,000 0.3% 13,325,000 2.5% 13,658,125 2.5% 13,999,578 2.5% 14,349,568 2.5% State Aid Federal ARRA/State refund 0.0% 0.0% 0.0% 0.0% 0.0% MSBA Other state aid -Supplemental Aid Total Inter ov't Revenues 12,955,108 -0.1% 13,000,000 0.3% 13,325,000 2.5% 13,658,125 2.5% 13,999,578 2.5% 14,349,568 2.5% Operating Transfers and Available Funds 25,000 0.0% 25,000 0.0% 25,000 0.0% 25,000 0.0% 25,000 0.0% 25,000 0.0% Cemetery sale of lots Sale of real estate funds 250,000 -16.7% 200,000 - 20.0% 150,000 -25.0% 100,000 -33.3% 50,000 -50.0% - 100.0% Reading Ice Arena Authority 100,000 0.0% 100,000 0.0% 100,000 0.0% 100,000 0.0% 100,000 0.0% 100,000 0.0% MSBA payments 215,828 -70.0% 817,305 278.7% RMLD earnings distribution 2,265,738 2.7% 2,311,053 2.0% 2,368,830 2.5% 2,428,050 2.5% 2,488,752 2.5% 2,550,970 2.5% Enterprise Fund Support 771,190 2.0% 790,470 2.5% 810,232 2.5% 830,488 2.5% 851,250 2.5% 872,531 2.5% 40R Stabilization Fund 368,000 100.0% 257,000 -30.2% 116,000 -54.9% Sick buy -back Stabilization Overlay surplus 475,947 100.0% 350,000 - 26.5% 350,000 0.0% 350,000 0.0% 250,000 -28.6% 250,000 0.0% Total Transfers & Available 4,471,704 8.9% 4,850,828 8.5% 3,920,061 - 19.2% 3,833,538 -2.2% 3,765,001 -1.8% 3,798,501 0.9% Certified Free Cash 0 0 0 0 0 0 Stabilization Fund OPERATING REVENUES 77,216,084 2.76% 79,245,184 2.63% 80,604,699 1.72% 82,902,101 2.85% 85,045,938 2.59% 87,367,872 2.73% Free Cash & Savings 556,742 -35.5% 1,000,000 1,000,000 750,000 750,000 750,000 TOTAL REVENUES $ 77,772,826 2.33% $ 80,245,184 318% $ 81,604,699 1.69% $ 83,652,101 2.51% 85,795,938 2.56% 88,117,872 2.71% F- w Town of Reading Accom Costs - Summary Projected One Yr Changes Projected One Yr Changes One Yr Changes One Yr Changes One Yr Changes One Yr Changes 10110/1212:54 PM FY-2013 FY-2-0.11 FY - 2014 FY - 2014 FY15 FY - 201 FY16 FY - 2016 FY17 FY - 2017 FY18 FY - 2018 13,329,635 3.7% 14,128,150 6.0% 16,919,094 5.9% Benefits 15,093,132 6.8% 15,970,681 5.8% 17,875,008 5.6% Capital 1,937,700 1104.4% 2,207,000 1 13.9% 1,916,000 - 13.2% 2,050,000 7.0% 2,150,000 4.9% 2,350,000 9.3% Debt 4,539,575 - 25.1% 4,380,600 -3.5% 3,775,030 -13.8% 3,555,757 -5.8% 3,445,159 -3.1% 3,327,574 -3.4% Energy 1,911,168 -4.7% 1,944,508 1.7% 2,022,288 4.0% 2,103,180 4.0% 2,187,307 4.0% 2,274,799 4.0% Financial 740,000 3.4% 750,000 1.4% 758,750 1.2% 767,719 1.2% 776,912 1.2% 786,335 1.2% Education - Out of district 3,344,235 - 12.9% 3,649,713 9.1% 3,832,199 5.0% 4,023,809 5.0% 4,224,999 5.0% 4,436,249 5.0% Education - Vocational 325,000 - 22.5% 341,250 5.0% 354,900 4.0% 369,096 4.0% 383,860 4.0% 399,214 4.0% Miscellaneous 2,898,937 3.2% 3,005,353 3.7% 3,088,651 2.8% 3,173,098 2.7% 3,258,716 2.7% 3,321,115 1.9% Community Priorities TOTAL Accommodated COSTS $ 29,026,250 -2.1% $ 30,406,574 4.8% $ 30,840,950 1.4% $ 32,013,340 3.8% $ 33,346,046 4.2% $ 34,770,295 4.3% 37.3% 37.9% 37.8% 38.3% 38.9% 39.5% 48,746,576 49,838,609 50,763,750 51,638,761 52,449,892 53,347,577 62.7% 3,125,885 3.6% 62.1% 3,266,550 4.5% 62.2% 3,380,879 3.5% 61.7% 3,499,210 3.5% 61.1% 3,586,690 2.5% 60.5% 3,676,358 2.5% ccom Costs - Detail Accommodated Costs - Benefits Contributory Retirement Non- Contrib. Retirement 67,500 - 10.0% 35,000 - 48.1% 35,875 2.5% 36,772 2.5% 37,691 2.5% 38,633 2.5% OBRA fees & OPEB study 40,000 166.7% 15,000 -62.5% 40,000 166.7% 15,000 -62.5% 40,000 166.7% 15,000 - 62.5% OPEB contribution 420,000 100.0% 453,600 8.0% 489,888 8.0% 524,180 7.0% 560,873 7.0% 600,134 7.0% Workers Compensation 341,250 5.0% 325,000 4.8% 341,250 5.0% 358,313 5.0% 376,228 5.0% 395,040 5.0% Unemployment Benefits 120,000 - 20.0% 100,000 - 16.7% 100,000 0.0% 100,000 0.0% 100,000 0.0% 100,000 0.0% Group Health / Life Ins. 8,475,000 -1.0% 9,153,000 8.0% 9,885,240 8.0% 10,577,207 7.0% 11,317,611 7.0% 12,109,844 7.0% Medicare / Social Security 675,000 3.8% 710,000 5.2% 745,000 4.9% 780,000 4.7% 815,000 4.5% 850,000 4.3% Police / Fire Indemnification 65,000 8.3% 70,000 7.7% 75,000 7.1% 80,000 6.7% 85,000 6.3% 90,000 5.9% Total Benefits $ 13,329,635 3.7% $ 14,128,150 6.0% $ 15,093,132 6.8% $ 15,970,681 5.8% $ 16,919,094 5.9% $ 17,875,008 5.6% 5% of net available revs 3,747,814 3,845,756 3,956,428 4,072,425 4,180,752 4,297,294 Energy Savings to pay debt service $ 300,000 $ 200,000 $ 150,000 $ 100,000 $ 50,000 $ - 4,047,814 4,045,756 4,106,428 4,172,425 4,230,752 4,297,294 less debt (net, inside levy) Available for cash capital (2,279,765) 1,768,049 (2,050,527) 1,995,229 (2,298,894) 1,807,534 (2,102,159) 2,070,266 (2,014,261) 2,216,491 (1,905,576) 2,391,718 Extra Capital from 40R Fund 257,000 116,000 Total Capital $ 1,937,700 104.4%1 $ 2,207,000 13.9%1 $ 1,916,000 .13.2%1 $ 2,050,000 7.0%1 $ 2,150,000 4.9% $ 2,350,000 9.3% Accommodated Costs - Debt (net, inside levy limit) 3,535,000 - 15.5% 3,310,000 -6.4% 2,735,000 - 17.4% 2,630,000 -3.8% 2,645,000 0.6% 2,655,000 0.4% Debt Service - Principal Debt Service - Interest 1,004,575 - 46.5% 1,070,600 6,6% 1,040,030 -2.9% 925,757 - 11.0% 800,159 - 13.6% 672,574 - 15.9% Excluded debt (2,043,982) - 26.8% (1,512,768) -26.0% (1,476,136) -2.4% (1,453,598) -1.5% (1,430,898) -1.6% (1,421,998) -0.6% MSBA reimbursements (215,828) - 53.3% (817,305) 278.7% Total Included Debt $ 2,279,765 - 18.8% $ 2,050,527 - 10.1% $ 2,298,894 12.1% $ 2,102,159 -8.6% $ 2,014,261 -4.2% $ 1,905,576 -5.4% Total Debt $ 4,539,575 .25.1%1 $ 4,380,600 -3.5%1 $ 3,775,030 .13.8%1 $ 3,555,757 -5.8%1 $ 3,445,159 -3.1%r$ 3,327,574 -3.4% Town of Reading A Costs - Detail Voted One Yr Change ,_Projected One Yr Changes One Yr Changes One Yr Changes One Yr Changes One Yr Changes 1 011 011 2 12:54 PM FY - 2013 FY - 201. FY - 2014 FY - 2014 FY15 FY - 2015 FY16 FY - 2016 FY17 FY - 2017 FY18 FY - 2018 200,000 -1.8% 200,000 0.0% 216,320 4.0% 224,973 4.0% Accommodated Costs - Energy 208,000 4.0% 233,972 4.0% Street Lighting Heating of Buildings -Town 93,000 6.0% 94,860 2.0% 98,654 4.0% 102,601 4.0% 106,705 4.0% 110,973 4.0% Heating of Buildings - Schools 456,358 -2.3% 456,358 0.0% 474,612 4.0% 493,597 4.0% 513,341 4.0% 533,874 4.0% Utilities -Town 173,050 -7.9% 194,530 12.4% 202,311 4.0% 210,404 4.0% 218,820 4.0% 227,573 4.0% Utilities - Schools 708,760 -7.0% 708,760 0.0% 737,110 4.0% 766,595 4.0% 797,259 4.0% 829,149 4.0% Fuel - vehicles in DPW budget) 280,000 -5.5% 290,000 3.6% 301,600 4.0% 313,664 4.0% 326,211 4.0% 339,259 4.0% Total Energy $ 1,911,168 .4.7%1 $ 1,944,508 1.7%1 $ 2,022,288 4.0% $ 2,103,180 4.0%1 $ 2,187,307 4.0%1 $ 2,274,799 4.0% Accommodated Costs - Financial 340,000 7.6% 350,000 2.9% 358,750 2.5% 367,719 2.5% 376,912 2.5% 386,335 2.5% Casualty Insurance Veteran's Assistance 250,000 0.0% 250,000 0.0% 250,000 0.0% 250,000 0.0% 250,000 0.0% 250,000 0.0% FINCOM Reserve Fund 150,000 0.0% 150,000 0.0% 150,000 0.0% 150,000 0.0% 150,000 0.0% 150,000 0.0% Stabilization Fund 0 0 0 0 0 0 Total Financial $ 740,000 3.4% $ 750,000 1.4% $ 758,750 1.2% $ 767,719 1.2% $ 776,912 1.2% $ 786,335 1.2% Accommodated Costs - Education Out of district 1,096,000 14.9% 1,150,800 5.0% 1,208,340 5.0% 1,268,757 5.0% 1,332,195 5.0% Out of district SPED transportation 954,000 6.8% Out of district SPED tuition 3,680,235 4.0% 3,750,342 1.9% 3,937,859 5.0% 4,134,752 5.0% 4,341,490 5.0% 4,558,564 5.0% Out of district SPED rev. offsets (1,290,000) 45.9% (1,196,629) -7.2% (1,256,460) 5.0% (1,319,283) 5.0% (1,385,248) 5.0% (1,454,510) 5.0% Out of district SPED carry forward ARRA IDEA Funds Total Education - Out of distr. $ 3,344,235 -12.9%1 $ 3,649,713 9.1% $ 3,832,199 5.0%1 $ 4,023,809 5.0% $ 4,224,999 5.0% $ 4,436,249 5.0% Accommodated Costs - Education Vocational School 210,000 5.0% 218,400 4.0% 227,136 4.0% 236,221 4.0% 245,670 4.0% Vocational School Assessments - N. 200,000 - 26.1% Vocational School Assessments - M. 125,000 - 15.9% 131,250 5.0% 136,500 4.0% 141,960 4.0% 147,638 4.0% 153,544 4.0% Total Education - Voke $ 325,000 - 22.5% $ 341,250 5.0% $ 354,900 4.0% $ 369,096 4.0% $ 383,860 4.0% $ 399,214 4.0% Accommodated Costs - Miscellaneous 1,500,000 1.9% 1,530,000 2.0% 1,568,250 2.5% 1,607,456 2.5% 1,647,643 2.5% 1,688,834 2.5% Rubbish Collection / Disposal Snow and Ice Control 600,000 6.2% 625,000 4.2% 650,000 4.0% 675,000 3.8% 700,000 3.7% 700,000 0.0% State Assessments 617,079 5.3% 663,949 7.6% 680,548 2.5% 697,561 2.5% 715,000 2.5% 732,875 2.5% Cemetery 181,858 -1.6% 186,404 2.5% 189,853 1.9% 193,080 1.7% 196,073 1.6% 199,406 1.7% Salaries and Wages 142,758 -2.0% 146,327 2.5% 149,034 1.9% 151,568 1.7% 153,917 1.6% 156,533 1.7% Expenses. 39,100 0.0% 40,078 2.5% 40,819 1.9% 41,513 1.7% 42,156 1.6% 42,873 1.7% Total Miscellaneous $ 2,898,937 3 2% $° 53 $ 3,088,651 2.8% $ 3,173,098 2.7% $ 3,258,716 2.7% $ 3,321,115 1.9% BACKGROUND FOR LIBRARY CONSTRUCTION ARTICLE On October 4, 2012, the Massachusetts Board of Library Commissioners announced that they have awarded Reading Public Library a General Construction Provisional Grant award of $5,105,114. Planning Process The Reading Public Library Board of Trustees commissioned a study in 2010 to determine present and future facility needs in the light of steady growth in service and multiplying facility deficiencies. The Trustees are committed to preserving the character of the current library while enhancing its accessibility, functionality and adaptability. Beacon Architectural Associates, working in conjunction with Adams & Smith Architects, determined that the current building is structurally sound but highly inefficient for today's needs. Their proposal calls for rearrangement of existing internal space and a 7,596- square- foot expansion on the hill at the easterly side toward School Street. The two -story addition would align with the lower and main levels of the current building. Major structural repairs and substantial renovation are required to comply with current building codes. The 2010 Fall Town Meeting authorized the Library Trustees to apply for a state grant for construction. The application was submitted in January 2011. The Library staff and Trustees conducted information sessions and building tours in 2011 -2012 while the Trustees waited for the Governor to release additional funding in Fiscal Year 2013 so that the Reading project can begin. During the next nine months the Reading Library Trustees and town officials will work with the community to gain the local match funding necessary to move forward with the grant. "Local support is really key to the success of a project because it ensures that each project meets the unique needs of its residents," said Rosemary Waltos, MBLC Construction Specialist. History On March 3, 2012, the Library celebrated its 28th year in the 116 - year -old Highland School building. Since its relocation to the historic landmark in 1984, the community's use of the library has more than doubled. For many of us, the Library as it is feels like home. But there are limitations to an old school building serving as a busy, high- traffic library: inflexible spaces due to inadequate infrastructure; no room to grow or update technology; no place to plug in a computer or laptop. The dark corners, dead -end stacks, and hidden areas make supervision of public spaces difficult and public safety and accessibility issues need to be addressed. Structural problems need to be fixed: the roof leaks; the basement sometimes floods and is often damp; the gutters, masonry, and windows need major repairs; and the HVAC, lighting, and work spaces are inefficient and outdated. 15 Need The community's use of the library has doubled in measurable ways and skyrocketed in many others. As one patron describes it, the library has become the living room of the community. It is a focal point that attracts residents of all ages. The charts show the tremendous growth of library use in recent decades. a,0oo.000 2,500,000 2,000,000 1.SOQA00 11000,000 .. $00.000 0 LIBRARY CIRCULATION M1 tM19� 40� tM1� i� ♦, +09 Interlibrary Loans 1982 -2010 _ ............ ,3S0,0101:1-//, ,0101:1 / i 300,000,i i 20%000." it 150.000 ' s0,= i 0 1/ {� Quotes of Support 41� TEEN COLLECTION 2AN ZAN 1,500 LM Soo 0 Print Year2002 Year 2010 Use of Library Meeting Rooms "After a review of this documentation and presentation, the Commission has determined that the proposed project will comply with the spirit of the renovation and construction guidelines enumerated by the Secretary of the Interior for buildings listed on the National Register." Reading Historical Commission, January 2011 "As the Director of Community Services /Town Planner I applaud the efforts by all involved in this endeavor to update, expand, and rehabilitate and breathe new life into the Reading Public Library. Careful planning has resulted in a vision for the future of the Reading Public Library that is truly exciting.... The Reading Public Library represents a unique opportunity 16 to both preserve an historic building while also develop a new wing that will complement, not compete, with the buildings original grandeur.... The library's plan is consistent with the Reading Master Plan because it will preserve a vital educational, cultural, architectural, and historic resource. Likewise, it is located within walking distance of downtown and reinforces the attractiveness of our "village style" town center. The availability of more space for community meeting rooms, children's activities, reading rooms and quiet study, and new computer areas will completely transform the Reading Public Library. The green roof and energy efficiency elements of the plan are especially noteworthy and consistent with our plans for sustainable development." Jean Johnson Delios, Community Services Director /Town Planner, January 2011 "The Reading Public Library building, originally built as a school, was converted to a library facility in 1983 as the Town of Reading's needs grew. Over the course of its 116- year -life many small renovations have occurred with the most recent occurring in 1983. The spaces have been repurposed to allow the Library to operate more efficiently. However due to the age of the building, its overall condition and its ability to function as a 21" century Library, a full renovation is necessary." Joseph P. Huggins, Director of Facilities October 2012 Goals of Library Building Program • Make exterior and interior repairs • Replace windows for greater efficiency • Improve HVAC and lighting • Accommodate new technology • Increase staff work space 17 • Improve circulation efficiency • Expand Children's area • Improve accessibility issues • Relocate meeting rooms • Create more study space and quiet areas FIRST FLOOR Xf WN X i'1913 First Floor Plan • Computer classroom • New young adult area • Relocation of general stacks • Additional study areas • More space for public computers SECOND FLOOR • Quiet reading room and nooks • Parking lot entrance relocated symmetrically • Modernized circulation area including optional self-checkout • Processing area for increasing homebound requests Second Floor Plan • Doubling of space for children • Additional computer stations for children I V1 • New early learning center • Designated area for children's programs • Space for outdoor programs surrounded by a green roof 3. ix, A • Quiet reading room and nooks • Parking lot entrance relocated symmetrically • Modernized circulation area including optional self-checkout • Processing area for increasing homebound requests Second Floor Plan • Doubling of space for children • Additional computer stations for children I V1 • New early learning center • Designated area for children's programs • Space for outdoor programs surrounded by a green roof GROUND FLOOR Ground Floor Plan • 3 additional study rooms • Additional conference rooms • Larger meeting room with accessibility after library hours • 7 Additional Parking spaces 19 • Fully accessible book stacks with better lighting Enhanced staff presence on lower level • Relocation of Local History iir —6 Kindergarten Co! nplemented in 2013 -14) pace Options for PreK ar illam Project Update Areas to Discuss 10/10/2012 20 1 Space Options 21 10/10/2012 Additional Staffing Needed - $225,0 � I _ 3.5 FTE Kindergarten Teachers 2.0 FTE Regular Education Paraeducator .2 FTE Music Teacher .2 FTE PE Teacher 'Curriculum Resources - $17,500 'Offset to budget FY13 $820,000 :Total: $1,062,500 Anticipated balance on 6/30/13: $450,00 , Amount needed to fund FDK: $61215001-- One Year Funding Only Full Day Kindergarten Space Options 21 10/10/2012 10/10/2012 Maintaining adequate class size , K -2: 18 -22 3 -5: Mid -20's Increased need in community for Full D' Kindergarten Program Current Available Total Needed Net Classrooms { for reassigning students outside home Full Day K 9 3 (From Half 16 -17 4 -5 Increased need for integrated preschool I i * Additional in- district special education Day K) programs and services since 2004 Half Day K 7 N/A 0 0 Art/Music 7 0 10 3 PreK 5 RISE 10 -11 3 -4 2 Wood End Special 6 0 Unknown Unknown Education Programs i j �rrent and Future I Space Needs Assuming Current Trends Maintaining adequate class size , K -2: 18 -22 3 -5: Mid -20's Increased need in community for Full D' Kindergarten Increased use of "Superintendent's Opti { for reassigning students outside home district Increased need for integrated preschool I i * Additional in- district special education programs and services since 2004 ti Driving variables for additional space 22 10/10/2012 More Permanent Solution Limited to Barrows (1), Birch Meadow (4 Joshua Eaton (1) (Locker Study) • Multiple Construction Sites at same ti • Approximate Cost: $6,000,000 -4 $7,000,000 May or may not be MSBA reimbursable Option 2 -Build Additional Classrooms at each school 23 4 Place 1 modular at each school 10 month process 3 Year Rent (Including Installation} Purchase: $1,100,000 s: Short term solution Would need to increase number base a j space needs Not MSBA Reimbursable Reduces flexibility Limited space at schools for modulars Historically, not a popular option ' f Option 1- Construct Modular More Permanent Solution Limited to Barrows (1), Birch Meadow (4 Joshua Eaton (1) (Locker Study) • Multiple Construction Sites at same ti • Approximate Cost: $6,000,000 -4 $7,000,000 May or may not be MSBA reimbursable Option 2 -Build Additional Classrooms at each school 23 4 10/10/2012 Option 3 -Rent Space * Long term option` `' _' , , . ,,. * May be less expensiV than �ot er` o"er options * Could solve PreK, K, and High School space issues * Could be used as an additional space for community 1 • Will not be MSBA reimbursable • Shorter construction period than permanent solution *Additional operational costs for administration (nurse, secretary, custodian, principal, etc.) Option 4- Purchase Existing Building and Renovate i 24 5 10/10/2012 Most expensive option Could solve PreK -K and High School issu Could be used for additional community, space. ra Would require additional opera�iona cos Land may not be available • If it were MSBA reimbursable, it could take 4 to 5 years from SOI to completioi of construction Cost (depending on size): $21,000,000 $32,000,000 (Locker study) Option 5 -Build New PreK -K Killam Project Update Financial Forum October, 2012 25 6 10/10/2012 • Identify priorities and goals • Describe existing conditions • Enrollment and capacity • Educational Programs • Building and building systems • Describe deficiencies, mitigating measures, and programmatic impact Statement of Interest 2012 Statement of Interest (Sol) Intake: 280 Total SOls Received by 121 Districts 114 are Re- submittals and have been filed in previous years 94 are Recertified FY 2011 Sas 72 are SOls that have been filed for the first time • 13 filed for the Science Lab Initiative • 1 withdrawn, 11 invited to eligibility period ■ 11 invited into the Core Program Eligibility Period ■ 38 invited into the Accelerated Repair Program r 218 being reviewed for the Core Program Final opportunity for Board review of FY12 SOI's is November _14,2012 26 7 10/10/2012 MSBA Building Process Steps primarily for: II I ELIGIBILITY FORMING THE FEASIBILITY SCHEMATIC PERIOD PROJECT TEAM STUDY DESIGN FUNDING THE DETAILED CONSTRUCTION COMPLETING PROJECT DESIGN I THE PROJECT "T4: the MSBA invites a Ali s nct into¢ Eligibility Period, the district an MSBA will work collaborative) ermine potential solutions to t aes identified in the SOI. Th BA works to find solutions that" educationally- sound, fiscally -4 )ro riate, and that fit within the BAs capital funding pipeline." Step 2 Eligibility Period 27 8 10/10/2012 Board of Directors authorizes Invitation to III Eligibility Period III . , • II Board or Directors authorizes Invitation to Feasibility Study and authorizes Executive Director to enter into a Upon Invite to Eligibility Period, Districts complete Feasibility Study Agreement defined requirements within the timeframes listed above ZCC: Initial Compliance Certificate SBC: School Building Committee SA: Feasibility Study Agreement e s of Invitation to uired steps must be completed within 270 days q P P Y *bility Period. Eligibility Period Requirements • Form Project Team Procure Owner's Project Manag' Procure Designer Services District Team collaborates with MSBA to' document their educational program generate an initial space summary o document existing conditions establish design parameters . develop and evaluate alternatives o recommend the most cost effective and educationall appropriate preferred solution to the MSBA • Submit Preliminary Design Program (PDP) and Preferred Schematic Report (PSR) to MSBA • MSBA approval of PDP and PSR to proceed to schematic design Step 3 Feasibility Study Period 28 9 10/10/2012 jDevelop and submit "robust" schemati `a design "of sufficient detail to establish th'_ scope, budget, and schedule for projec Secure approval of design by MSBA Boa Obtain DESE approval (special education,: program delivery) Execute Project Scope and Budget Agreement MSBA Board Action and Approval Step 4 Schematic Design )on receipt of Board Action lette strict must secure local authorizat1on` 1 ndin wi �.n.120 -days ,of=..MSBA's Board )te DOR requires' that the District appropriate ant authorize the total Project cost including both he District and the MSBA's share; however, tl District will only have to borrow for its portior -ovide verification of local approval to, SBA iter into Project Funding Agreement wi SBA p 5 Funding the Project 29 10 10/10/2012 Design Development 60% Construction Documents 100% Construction Documents Bidding Process Note: Once Total Facilities Grant is established, the amount can be reduced if bids comes in lower than PFA budget but will not be increased if bids come in higher. Step 6 Detailed Design Can submit for reimburs. t -r through ProPay Syste Change Order Process Budget Revision Request Process Commissioning Agent review and oversight Step 7 Construction 30 11 10/10/2012 Potential- T- imeline- - - - - -- � 6iglbilfry Pedod 2er.32 L-23 Feb-U M-13 Ag -1B ba-23 lu-U AaL-15 Au" 5." Q�Ul N-U 2-13 &.Uf Initial Compliance Certiflotlon Sd—I Building Committee _ Maintenano& Enrollment DOwments Idol Funding for FessiDiliry Study Eaewtion of FSA � 31 N—g the Proles Team Procure —nen Prole. —Bet Prowre Designer SeMOS '', B) haabllityS dy Pnl(minary Design P.ogram -- PMemetl Sd�emadc Study and Report ' MSBAARionon 4) SQemaNC Design Feb -la M-14 Anr -ta mav-'a hL" Ld14 Au" Sent- 4 2�U N—JA R—Ull L." L kmIS bl--15 A" ' Sd�emati< Design Development MSBA Review. FAS ldeetin& Conference Ot—d Eaewt -PS &S Agre men' -BA Board Approval & AcNon Letter S) Funding the Proles Obtain Loot Funding AUMOrizstlon Eeew[e P-1— Funding Agrt ment �, q Deolled Desipi BBay_35 lun -15 IW -15 A." Segli 57 15 tlmeli I1sc -15 1an-16 EsElf b7aF�6 Ap[:16 2Ebtlg lun-]& 1W36 Design Development i6ty14 COnstrvalon DOwmenta I i IDD%CO..I —Ion DOwments Bidding M BA Anion on PFA Bid Budget �, D �naeronion ', Notiq to Proved Constrvnion AI Constrvnion Ooseout Aii" 5so-1e D. lg U--a D— -U 1—U Eid .0 M-.22 31 12 On NAME (please print) t4cc,L."v SIGN -IN SHEET FOR THE MEETING OF -j v-1v- ADDRESS I - M,a �s U Gh z . S•C. Sc-k cc;{ Comm ( Q 3 1•.'L�.... Ti�L.S� ee l a'3 og 1, --- - -- - - - -- -- ,� o � I 1�1 i 1 { V 1 - -fit I� - - - -- ---- - - - - -- a ----- --- - - - - -- i --- - - - - -- - i ILA V