HomeMy WebLinkAbout1979-04-02-AC-MIN.pdf 376
DATE: April 2, 1979
TIME: 7:30 PM
PLACE: Cary Hall
PRESENT: D. White, G. Silverman, R. Perry, J. Blaisdell, M. Kutchin,
J. Campbell, M. Gilman, W. Dailey, P. Hall
J. Maher, Mary Lou Tourant and Bob Eby of Permanent Bldg. Committee
met re the pool.
Appropriation Committee by 5-3 vote adopted proposal 4-A and 5A (attached)
will increase cost of swim tags to help defray cost of pool construction
at cost of $675,000.
Respectfully submitted,
Richard M. Perry/mob
Secretary
r
Slide #4t
SWIMMING PROGRAM OPERATIONAL COSTS
(New Pool & Old Res.)
Average
Year enses (1) Tai Cost (2) Income
1980 $54,570 $7.67 $67,803
1981 57,299 7.98 70,54.3
1982 60,163 8.30 73,372
1983 63,172 8.65 76,466
etc. etc. etc. etc.
Note 1 Escalated at 5% per year
Note 2 Based on 8840 swim tags sold each years, same as 1978.
Average TAG price set annually so income exceeds expense by
one half the cost of bonding over 30 year period.
Slide #5
30 YEAR COST TO TOWN
(New Pool & Res.)
EXPENSES
Bonding - 5 years (Principal & Int.) $781,313
Staff & Maintenance
$54,570 (1st year cost)
escalated for 30 years at 5% 3.625,630
Total Expense $4,406,943 $4,406,943
INCOME
Tag Sales
8840 tags sold annually
priced so income exceeds
operating expense by
one-half bonding cost 4,016,286
Total Income $4,016,286 $4,016,286
Total Net Cost to Town 390;657
Swimmer Cost = 91%
Town Cost = 9%