VCSD Capital Project Forum November 6, 2017

Capital Project – vote May 2018 The district has been planning for a Capital Project since receiving the Building Condition Survey in 2016 The Building Condition Survey (BCS) identified items in the district’s facilities that need to be addressed The district Facilities Committee has reviewed and prioritized the BCS items to be included in the project The Facilities Committee has also reviewed ideas to improve 4 science and technology classrooms The Committee is also reviewing improvements to the district’s athletic facilities

Building Condition Survey Items Estimated Cost Background Information New Heating System Boilers for All Schools $1,493,000 Current boilers are 25 to 30 years old New Roof on Older Section of the ES $511,000 Roof section 20 years old, out of warranty New Windows in the Older Section of the HS $533,000 Windows date from 1950s and 60s Unit Ventilators in the Older Section of the HS $564,000 Ventilators date from 1950s and 60s HS Temperature Control System $373,000 System obsolete – dates from 1950s – 70s MS/HS Fire Alarm System, HS Emergency Lights $693,000 System dates from 1970s, not addressable PAC AC Unit, MS Stairs, HS Ceiling Tiles $359,000 AC unit noisy and inefficient, stairs deteriorating, tiles deteriorating PAC, LGI, MS Gym upgrades, ES Water Heater $370,000 LED Lights for PAC, sound deadening for LGI, LED lights for MS gym MS/HS Kitchen upgrades $118,000 Replace old steam table and oven Total for all BCS Items $5,014,000 Upgrade and replace old items

Capital Project Items Building Condition Survey Items = $5.0 million Renovation of 2 HS Earth Science Labs = $1,000,000 Renovation of MS Technology Lab = $500,000 Renovation of Maintenance Area as Technology Lab = $500,000 Estimated Cost of Project as of now = $7.5 million Possible additions to the project include resurfacing of MS/HS Track, reconfiguration of Football, Soccer, and Lacrosse fields, and new Bleachers at the Football Field/Track, costs TBD

Enrollment Projections Due to the influx of new housing developments (there are 273 housing units approved for construction in the district), the district had Capital District Regional Planning conduct an enrollment study. Here are the key findings: District enrollment is projected to increase by 168 students in the next 5 years. Since the housing development on Hilton Road is at an early stage of development now, the CDRPC recommends revisiting the study in 1-2 years to see if there will be further increases beyond the next 5 years. The district has a long term financial plan to fund capital reserves so that future needs can be provided for without larger capital costs to taxpayers

Actual Enrollment 2011 - 2017 and Projected Enrollment 2018 - 2022

Financing the Capital Project The district has been building reserves to offset the local share of capital costs for the project The district receives 60% aid on capital projects; local funds pay the rest of the cost either up front from reserves or over time through borrowing Currently the district has $1.6 million in capital reserves. We will be able to add $500,000 to our capital reserves in 2018 We can add up to $1,000,000 more to capital reserves in the following two budget years We will have over $2 million in capital reserves to use for this project, which means we will have to finance approximately $1 million over 15 years, significantly reducing the impact to taxpayers

Total District Capital Reserves

Capital Project Costs and Budget Impacts The district’s capital costs are decreasing due to the payoff of bonds from the 2001 capital project The district has also decreased its use of fund balance in annual budget This has allowed more money to be placed into capital reserves to reduce the impact of the capital project to taxpayers These changes will stabilize budgets and tax impacts

Use of Fund Balance in Budgets 2011 - 2018

Next Steps in the Capital Project Review the project at district facilities meetings, board meetings, and community forums – now through March 2018 Board of Education approves proposition for project – May 2018 Voters decide on project – May 2018 Plans submitted to State Ed. – Fall 2018 Approval from State Ed. – Fall 2019 Construction – Spring 2020 to Fall 2021