2022-03-28-AC-ATM-STM-rptrev - Laserfiche WebLink

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2022 ATM,2022-1 STM APPROPRIATION COXMTTEE 21 MARCH 2022 enrollment will consist entirely of in-district students. Based on applications received to date, total school enrollment is expected to near 700 students in September 2022. Enrollment FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 *FY 20 FY 21 FY 22 FY 23 est In-district 409 437 410 391 347 337 354 395 467 538 621 Out-of-district 340 356 332 277 271 231 162 207 167 117 80 Total 749 793 742 668 618 568 516 602 634 655 701 *new school occupied This strong enrollment has the district planning to increase school capacity to 800 students, with graduating classes in the range of 200 students. The flexible design of the school's technical training spaces would allow this higher capacity, so the limiting factor is providing sufficient academic space. In anticipation of accommodating future enrollment needs a total annual contribution of$500,000 is budgeted for the Capital Stabilization Fund, $150,000 more than FY2022 contribution. By FY2025 it is estimated that MRHS operations and debt service will be fully funded by assessments from member towns. The decline of out-of-district enrollment will reduce revenue from out-of-district tuition and capital fees that partially offset member town assessments. This will lead to higher total assessments to member towns while lowering the per-student assessment. It is important to note that out-of-district tuition, with rates that are set by the state, does not cover the full per-student cost at MRHS. In addition, Chapter 70 State Aid for out-of-district students goes directly to the student's town or city,not to MRHS. In November 2020 the District School Committee selected an athletic field plan that included lighting the fields. This feature satisfies the school's requirements, and also allows the fields to be available for rental to local teams and leagues outside of school hours. Member towns approved an additional $1,900,000 in debt to fund the enhanced project,with the understanding that the rental income could significantly offset the field maintenance and debt service. The fields should be completed by April 2022 and rentals will commence in the spring. Rental income will be posted to the district's Facilities Revolving Fund.While this revenue will not show in their revenue plan,the revolving fund revenue will be used to offset overhead and will result in a reduction in that line item starting with the FY2024 budget. The district's long-term capital and debt obligations last through FY2050 and are summarized in the chart below. MRHS District Debt Service -FY2023-FY2051 $7,500,000 $5,000,000 $2,500,000 $0 ......... ....r IP'} IX.) 1.,...... 00 (T CD C"3 e+'? ....r I!'} V.:.? .,...... CY.J (T (.. —' C"' er' .r I!'} .f'.? l..... 00 (T CD —+ ❑ School Bldg ❑ Athletic Facility ESCO Lease It is comprised of three components, with differing terms. The debt on the school building ends in FY2050,that on the athletic facility ends in FY2041, and the ESCO Lease ends in FY2026. The annual ESCO Lease payments of over $550,000 is for equipment used in the prior school building and is paid with assessments from all member towns that were in the district when the lease began. 10