1. VCSD Capital Project Forum
November 6, 2017

2. 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

3. 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

4. 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

5. 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

6. Actual Enrollment 2011 - 2017 and Projected Enrollment 2018 - 2022

7. 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

8. Total District Capital Reserves

9. 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

10. Use of Fund Balance in Budgets 2011 - 2018

11. 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