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• 1 <br /> APPROPRIATION COMMITTEE <br /> REPORT TO OCTOBER 20 SPECIAL TOWN MEETING <br /> ARTICLE 2: REMODELING/RECONSTRUCTION OF TOWN SCHOOLS <br /> How DO THESE TWO APPROACHES COMPARE? (CONTINUED) <br /> • <br /> • <br /> " cc COMP ERENS1VE i� U a I a" is " fEwr a <br /> �1�M1171y <br /> ■ Cosr-EF EFegan txt5 . <br /> r-- <br /> — •PERFORMING WORK IN EACH SCHOOL OVER MANY —EACH SCHOOL COMPLETED FROM <br /> YEARS IS MORE COSTLY: INEFFICIENCIES, INFLATION. IN 27 MONTHS. TOP TO BOT7�OM <br /> ■ IMPACT ON TOWN,matin <br /> —DEFERRED MAINTENANCE DEMANDS INCREASE —PHASE 1 BUILDING RENEWALS REDUCE <br /> OPERATING BUDGETS AS WELL AS CAPITAL NEEDS. ANNUAL <br /> OPERATING AND MAINTENANCE EXPENSES AND � <br /> ELIIMIIITATE CAPITAL NEEDS: :. : . a,. +: .,;;154-. <br /> —'CUMULATIVE DEBT SERVICE FOR ANNUAL$5 • _ <br /> E 2 <br /> MILLION BORROWING COSTS$447,000 MORE IN FY —NET DEBT SERVICE COSTS OF PHASI:1ANDPHASE 2 <br /> 2005 AND COSTS MORE EACH YEAR BOND ISSUES LESS EXPENSIVE BY FY 2005. . <br /> ' (SEE EX.HIBIIS B AND C.) <br /> (SEE ExH IBrrs B AND C.) <br /> —DEBT SERVICE FROM ANNUAL$5 MILLION <br /> AUTHORIZATIONS REDUCES TAX LEVY FUNDS _ANNUAL DEBT SERVICE REQUIREMENTSSET_:FOB ., <br /> AVAILABLE FOR OPERATING BUDGETS. PHASE1 FOR 25 YEARS. Wrrs DEBT EgCI,USION;-TAX <br /> LEVY IS AVAILABLE FOR OPERATING AND OTHER <br /> CAPITAL NEEDS <br /> --ANNUAL PROGRAM UNLIKELY TO QUALIFY FOR —PHASE 1 PROGRAM LEVERAGES TOWN FUNDS BY <br /> REIMBURSEMENT OF PROGRAM COSTS. <br /> QUALIFYING FOR 59%STATE REIMBURSEMENT OF <br /> TOTAL PRINCIPAL AND INTEREST COSTS. <br /> (SEE EXHIBIT C.) <br /> Appropriation Committee Report Page 11 of 13 <br /> October 13, 1997 <br />