1.  Our primary budget objective for the year is to resolve the dependency on reserves  Our carry forward (level services) budget will require double the funding increase over year’s budget request if we are to address the reserve issue  Without achieving carry forward (level services) funding from the town we would either have to ◦ continue to use reserves to maintain revenues needed to carry forward, or ◦ make reductions to the budget to close the gap ($700K)  Carry forward (level services) is not optimal. It merely keeps us where we are today.

2.  Carry forward (level services) is not optimal it merely keeps us where we are today  An incremental reinstatement budget of $250-$550 would give us greater flexibility to address enrollment and program needs  There are three additional spending options to consider that would help us to improve the PK-12 program and address issues that are important to the community

3. FY16 Budget Scenarios

4.  The FY16 Budget request will be the first of several budgetary needs that will go before the public. As we embark on our Elementary Facilities Project voters are like to see debt exclusion votes for feasibility study and then project in the spring of 17/18 and/or 18/20 (depending on MSBA approval process).  Town Funding Landscape ◦ Tax receipts form the basis of their revenue ◦ Tax collection is limited by proposition 2.5 ◦ Use of their reserves for a one time infusion does not resolve our revenue problem ◦ Any spending that requires more than 2.5% tax increase requires voter approval ◦ Current carry forward (level services) request would require towns to seek an OR