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AC–M2015STM#1&STM#2
<br />PPROPRIATIONOMMITTEEARCH
<br />with potential follow-up tasks to be performed contingent on recommendations from the School Commit-
<br />tee and formal approval by the Selectmen. This Committee, the Capital Expenditures Committee, the
<br />Permanent Building Committee, the Department of Public Facilities, and the public will be consulted dur-
<br />ing this approval process. This Committee will make recommendations on these proposals focusing on
<br />two criteria: whether the information is sufficient for making reasonable decisions on the school capital
<br />program, and whether the individual project components are reasonably likely to move forward.
<br />InitialFollow-upProject
<br />School Project
<br />PhasePhaseTotal
<br />Bowman$86,000$221,000$307,000
<br />Bridge$93,000$250,000$343,000
<br />Fiske$93,000$250,000$343,000
<br />Pre–K$115,000$297,000$412,000
<br />Harrington$35,000$43,000$78,000
<br />Hastings$390,000$530,000$920,000
<br />Clarke$111,000$307,000$418,000
<br />Diamond, bricks and mortar$316,000$380,000$696,000
<br />Diamond, pre-fabricated$130,000$388,000$518,000
<br />Other -Fiske bricks and mortar, School Admin. Bldg.$45,000$0$45,000
<br />GrandTotal$1,414,000$2,666,000$4,080,000
<br />Longer Term Financial Environment
<br />The school facilities projects in the present plan are not the only large capital projects that the Town is
<br />likely to need in the next five to ten years. Additional likely municipal capital projects are listed in the
<br />following table, together with rough estimates of cost. When added on to the total anticipated costs for the
<br />projects in the current request, this represents a significant future burden on the Town.
<br />Total
<br />Project DescriptionEstimated Costs
<br />(preliminary)
<br />Clarke circulation/parking$2.6 million
<br />Middle school science & performing arts$3.3 million
<br />Diamondenergy improvements$3.8million
<br />LHS heating system repairs$10.8million
<br />Police Station$16.0 million
<br />Fire Station (includes est. $5millionland purchase)$23.0million
<br />Total$59.5million
<br />Many of these projects will require approval from voters via debt exclusion referendum. If all of these
<br />projects are carried out in the coming decade, the high level of the debt service could have major financial
<br />implications such as:
<br />Significantly higher property tax bills over the next 10 years.
<br />
<br />A significant deviation from the financial goal of keeping excluded debt service at 5% of the non-
<br />
<br />exempt tax bill. Prior to any mitigation using the Capital Debt Stabilization Fund, the ratio could
<br />peak at 13% in 2021 and then fall back to 5% in 2030.
<br />Partial or complete depletion of the Capital Projects Stabilization Fund and/or the main Stabiliza-
<br />
<br />tion (“Rainy Day”) Fund.
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