A-Z CAPITAL PROJECTS Diane Fox, CPA Steven Siegel, AIA, LEEDap Business Administrator/Board Secretary Middle Township Steven Siegel, AIA, LEEDap Associate Principal, Spiezle Architectural Group Anthony Inverso Senior Managing Director, Phoenix Advisors, LLC Tony Solimine, Esq. Partner, McManimon, Scotland & Baumann, LLC

Components of School Project 1 Strategic Planning/School Facilities Needs NJDOE Submission Available Financing Options Funding and Impacts 2 3 4

1 Strategic Plan Community engagement Budget & finance Curriculum School climate

1 Facility Needs Survey all buildings Review LRFP Develop budgets Review priorities Evaluate funding options (lease purchase, ESIP, PPA, referendum, grants, state aid, etc.)

2 NJDOE Submission Determine local funding source Establish state funding source Create applications for each project per school and funding source Develop schematic plans, educational specs and applications as appropriate for each application

3 Financing Options Capital Reserve: Implement a project in the LRFP or to augment a bond project when authorized Lease Purchase (N.J.S.A. 18A:20-4.2(f)) Limited to 5 years Rent is paid from the Board’s general fund Financing Requires the approval of the Commissioner of Education

3 Financing Options School Notes/Bonds authorized via referendum There are 5 available dates *4th Tuesday in January *2nd Tuesday in March *Last Tuesday in September *2nd Tuesday in December *Annual election(November or April)

Financing Options 3 Initial costs can be funded with short-term notes Bonds are limited to the “useful life” of the project Debt Service Aid based on “eligible project costs” Review existing debt service for repayment structuring options

4 Funding & Impacts Fiscal planning Strategic & creative thinking Demographics & challenges Tax impacts

4 Funding & Impacts Fiscal planning -current and future needs Strategic & creative thinking -other ways of accomplishing goals Demographics & challenges -anticipated growth of tax base Tax impacts -analyze ways to minimize tax impact

4 Middle Township Two-question, $24.6 million bond referendum Included all 4 schools *No-frills renovations *Addition of Early Childhood Center *Addition of athletic field/facilities Eligible for 10% state aid Issued short-term notes first Rolled notes to strategically time debt service impact Issuing bonds with little to no new impact on budget

4 Budget & Finance Short- and long-term needs Original budget of $34.8 million Pared down to only most critical and essential Communicate your process

Thank You! ? Questions