1. 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

2. Components of School Project1
Strategic Planning/School Facilities Needs
NJDOE Submission
Available Financing Options
Funding and Impacts 2 3 4

3. 1 Strategic Plan Community engagement Budget & finance Curriculum
School climate

4. 1 Facility Needs Survey all buildings Review LRFP Develop budgets
Review priorities
Evaluate funding options (lease purchase, ESIP, PPA, referendum, grants, state aid, etc.)

5. 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

6. 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

7. 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)

8. 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

9. 4 Funding & Impacts Fiscal planning Strategic & creative thinking
Demographics & challenges
Tax impacts

10. 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

11. 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

12. 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

13. Thank You! ?
Questions