Budget Debt Service Enrollment March 9,

Mission-Focused Budgeting  All students are provided the opportunity and necessary support to engage in relevant, challenging work which contributes to their academic and social growth and development  All staff, teachers, and administrators are part of a larger learning community working together to build collective capacity in order to provide a high-quality, relevant, equitable education for all 2

Debt Service 3

Debt Service Philosophy  Purchase with cash whenever fiscally sound  Interest cost savings  Debt issuance costs avoided  Limit length of borrowings as much as possible  Review outstanding debt regularly for refunding opportunities/interest recalibration waivers

Building Aid 5 Building Aid is generated based on estimated debt service costs and/or cash expenditures from the Capital Fund. With Transfer to Capital Fund Projects, we don’t incur interest costs, so the percentage of the project that is funded by Building Aid is effectively increased. For example, a recent capital project funded with a Transfer to Capital was approx. 83% paid for by Building Aid, although our aid ratio is approx. 69%).

Debt Service  Review of Debt Service Schedule Handout  Bonds  Four serial bonds outstanding  Balance of principal & interest outstanding is $24,230,184.  Outstanding bonds will be paid off between and

Debt Service Schedule North Colonie Central School District General Fund Debt Service Schedule Average VoterProjectInterestActualBudget to AuthorizationDescriptionRate Totals Refunding Bonds3.72%Prin:$915,000$905,000 Series "A" and "B"Int:$117,994$83,681$40,694 Total:$1,032,994$988,681$945,694 $3,055,000 Refunding Bonds2.24%Prin:$345,000 $340,000$130,000$135,000$145,000 Facility Renov & LO & FF BoilersInt:$39,563$32,663$24,963$19,088$15,438$11,238$6,888$2,356 Total:$384,563$377,663$364,963$149,088$150,438$156,238$151,888$147,356 7/1/2004PHASE 34.06%Prin:$1,725,000$0 Serial$32,535,000Int:$34,500$0 Bond Issue(Issue $31,000,000)Total:$1,759,500$0 $16,905,000 Refunding Bonds1.55%Prin:$35,000$1,820,000$1,870,000$1,950,000$2,040,000$2,125,000$2,225,000$2,315,000$2,380,000 Phase 3Int:$538,550$510,900$455,550$388,500$308,700$225,400$138,400$70,750$23,800 2/14/2012Total:$573,550$2,330,900$2,325,550$2,338,500$2,348,700$2,350,400$2,363,400$2,385,750$2,403,800 3/3/2008$3.0 Million Bonded May %Prin:$320,000$335,000$350,000$365,000$380,000$395,000 $7,000,000Int:$45,025$39,425$32,725$25,725$18,425$9,875 Excel ProjectsTotal:$365,025$374,425$382,725$390,725$398,425$404,875 Principal:$3,340,000$3,405,000$3,465,000$2,445,000$2,555,000$2,665,000$2,370,000$2,460,000$2,380,000$21,745,000 Interest:$775,632$666,669$553,932$433,313$342,563$246,513$145,288$73,106$23,800$2,485,184 LT Debt:$4,115,632$4,071,669$4,018,932$2,878,313$2,897,563$2,911,513$2,515,288$2,533,106$2,403,800 RAN / TAN Interest:$0 Total Debt:$4,115,632$4,071,669$4,018,932$2,878,313$2,897,563$2,911,513$2,515,288$2,533,106$2,403,800 Increase/Decre ase in Debt (%)-1.116%-1.068%-1.295% %0.669%0.481% %0.708%-5.105% Debt Service - Bonds$4,115,632$4,071,669$4,018,932$2,878,313$2,897,563$2,911,513$2,515,288$2,533,106$2,403,800$24,230,184 Debt Service - Installment Leases 125,000 $0 Total Debt Service$4,364,100$4,071,669$4,018,932$2,878,313$2,897,563$2,911,513$2,515,288$2,533,106$2,403,800$24,230,184

Debt Service Bond Years Outstanding

Debt Service

Enrollment 10

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Enrollment, Then & Now Grades K-6Grades 7-8Grades 9-12 Total , ,0385, , ,9655,380 Difference

Live Births, 5-year Averages : : : : : 280

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Enrollment By Level Actual Projected Actual Difference between projected & actual Elementary 2,505 2,57267 Junior High Senior High 1,9631,9501,96515 Total5,3465,2935,38087

Enrollment By Elementary School Actual Projected Actual Difference between projected & actual Blue Creek Boght Hills Forts Ferry Latham Ridge Loudonville Southgate Total 2,505 2,57267

Enrollment By Elementary Grade Actual Projected Actual Difference between projected & actual K Total 2,505 2,57267

Five Year Projections Grades K-6Grades 7-8Grades 9-12 Total , ,9655, , ,9505,409 Total

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Long Term Enrollment Factors  Full Day Kindergarten  New Construction  One Year vs. New Trend 20

What’s next? Budget committee current schedule: March 2: Preliminary Budget Overview March 5: Maintenance & Interfund Transfers March 9: Debt service, Enrollment March 16: Equipment, Technology, Revenue, Fund Balance March 19: (*Shaker High School Media Center) New programs and initiatives, including Full Day Kindergarten and ENL, Summer Curriculum March 26: Staffing Changes, Contingency Budget March 30: Voting by Board of Education 21