School Board Meeting Thursday January 25th, 2007

There is a Newport District School Board
meeting on Thursday January 25th, 2007. Croydon residents have a voice even though they can not vote for the proposed bonds and increased spending. Please attend and speak up.

The following is important information from the January 16th, 2007 budget hearing.

Mr. MacConnell read warrant article 4 (attached). The proposed budget is
$14,434,666.00. The default budget would be $14,230,076.00. Mr. MacConnell reviewed page 6 of the blue packet which was the general fund summary budget. He pointed out the area of increases. The total general fund increase is 3.9% or $504,841. All but approximately $58,000 of the increase is due to contractual obligations.

On page 5, the reduction in revenue were discussed. There is approximately $242,000 in revenue that was reduced.

There was a discussion about the large decrease in the building and grounds line item and this issue would need to be addressed at some time.

Ms. Sarles read warrant article 5 (attached). The tax impact is zero. This is recommended by the school board and budget advisory committee (BAC).

Dr. Schissel read article 6 (attached). The tax impact is zero. Recommended by the school board and the BAC.

Ms. Harrison read article 7 (attached). The tax impact is zero. Recommended by the school board and the BAC.

Ms. DiPadova read article 8 (attached). The tax impact is zero. Recommended by the school board and the BAC.

Mr. MacConnell read article 9 (attached). The tax impact is zero . Recommended by the school board and the BAC.

The deliberative session will be at the gymnasium of Newport Middle High School on February 6, 2007 at 7:00 p.m. The ballot voting will be on March 13, 2007, between 8:00 a.m.-7:00 p.m at the Newport Opera House.

The following is important information from the January 16th, 2007 bond hearing.

Mr. Clough also asked the tax impact on the bond proposal in the upcoming years. Mr. MacConnell read the figures from the last page of the blue packet. The first year is for a half of a year and interest only at a tax impact of $1.78. Year two tax impact would be $4.28 for principal and interest at 5%. Year three tax impact $4.13, year 4 tax impact $3.97, year 5 tax impact $3.81. The tax impact will continue to decrease over the twenty years. Of the $14,890,000.00 requested bond, the state will pay $8,934,000.00 principal. The community would pay $5,956,000.00 in principal plus all interest.
There was a discussion of doing just improvements at Richards and the life safety at Towle and Middle High School. The estimated cost would be 15% higher than the projected costs in the packet for these items. Mr. Nelson noted that if they did the new building at Richards and life safety improvements, the state would pick up 60% of the cost.