5 YEAR CAPITAL PLAN
JOSHUA SMITH, SUPERINTENDENT
JOSEPH MARTINO, DIRECTOR OF FINANCE
NOVEMBER 25, 2024
SCOPE OF FACILITIES AND CAPITAL PLANNING
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Definitions:
Operating Capital: Line item in the operating budget, approved annually through referendum and accessed primarily to repair or replace equipment that fails.
Capital Reserve: Non-reoccurring account that lives outside of the operating budget. It can roll over year to year and is limited to annual deposits of up to 2% of the overall budget. This account acts as a reserve account for large unexpected costs and can be used to fund larger projects that require multiyear planning.
CAPITAL PLANNING
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HISTORY OF �NON BOND RELATED PROJECTS
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District wide
Pomperpaug High School
Long Meadow Elementary School
Gainfield Elementary School
Pomperaug Elementary Schools
Rochambeau Middle School
Middlebury Elementary School
Mary I. Johnson
FUNDING
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Current Year allocated funding
Operating Fund Capital $475,000
Capital Reserve $1,245,870
OPERATING CAPITAL CURRENT ACTUALS
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R-22 REFRIGERANT
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LONG MEADOW ELEMENTARY
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�MIDDLEBURY ELEMENTARY SCHOOL�
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�ROCHAMBEAU MIDDLE SCHOOL
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MEMORIAL MIDDLE SCHOOL
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PICTURE OF HIGH SCHOOL ROOF
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Main HVAC units circled in red are not original to the high school. They were replaced in the late 1990s. We believe the replacement cost would be 1-1.5 million per unit
The build also has 6 smaller HVAC units that are original to the building. Cost estimate $750,000 per unit for replacement.
POMPERPAUG HIGH SCHOOL
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CENTRAL OFFICE
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REPAIR BOND YEAR TO DATE
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PHS and MMS Bonded Projects | ||||||
| Initial Budget Estimates | Initial BOE Approved Projects | | Completed Projects Costs | Completed Project Savings | Recommend Projects to bid pending approval (09/2024) |
Pomperaug High School | | | | | | |
PHS HVAC Replacement** | $2,000,000.00 | $1,795,000.00 | | In Process | - | $ 550,000.00 |
Pool* | $1,000,000.00 | $4,616,143.00 | | In Process | - | . |
Bleachers | $175,000.00 | $110,000.00 | | $110,000.00 | - | |
Storage Building for Equipment | $300,000.00 | $281,413.00 | | $268,913.00 | $12,500.00 | |
Tennis Courts | $1,400,000.00 | $749,000.00 | | $746,800.00 | $2,200.00 | |
Auditorium*** | $500,000.00 | $534,000.00 | | $533,451.00 | $549.00 | $ 230,000.00 |
Culinary room | $175,000.00 | $556,000.00 | | $554,396.00 | $1,604.00 | |
Fire Panel Replacement | $300,000.00 | $ - | | $ - | $ - | $ 175,000.00 |
Parking Lot Paving | $500,000.00 | $ - | | $ - | $ - | Deferred |
| $6,350,000.00 | $8,641,556.00 | | $2,213,560.00 | $16,853.00 | $ 955,000.00 |
Memorial Middle School | | | | | | |
Library Media Center Upgrades | $200,000.00 | $216,000.00 | | $201,834.00 | $14,166.00 | |
Fire Panel Replacement | $150,000.00 | $ 56,137.00 | | In Process | | |
Tennis Courts | $75,000.00 | $ - | | $ - | | $75,000.00 |
Boiler upgrades for Natural Gas | $400,000.00 | $ - | | $ - | | Deferred |
| $825,000.00 | $272,137.00 | | $201,834.00 | $14,166.00 | $75,000.00 |
REPAIR BOND YEAR TO DATE
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RMS, MES, LMES and Security Bonded Projects | ||||||
Rochambeau Middle School | | | |
|
| |
Lockers | $300,000.00 | $ 68,100.00 | | $68,100.00 | $0.00 | |
Fire Panel Replacement | $200,000.00 | $ 164,939.00 | | $154,939.00 | $10,000.00 | |
HVAC Replacement**** | $300,000.00 | $ - | | $ - |
| $200,000.00 |
| $800,000.00 | $233,039.00 |
| $223,039.00 | $10,000.00 | $200,000.00 |
Middlebury Elementary School | | | |
|
| |
Library Media Center Upgrades | $50,000.00 | $ 47,000.00 | | $47,000.00 | $ - | |
Water Line | $500,000.00 | $ - | | $ - |
| $500,000.00 |
HVAC Replacement | $250,000.00 | $ - | | $ - |
| $250,000.00 |
| $750,000.00 | $47,000.00 |
| $47,000.00 | $0.00 | $750,000.00 |
Longmeadow Elementary | | | |
|
| |
Roof | $1,500,000.00 | $ - | |
|
| Deferred |
Parking Lot Paving | $600,000.00 | $ - | |
|
| Deferred |
| $2,100,000.00 | $ - |
| $0.00 | $0.00 | $0.00 |
| . | | |
|
| |
Security Projected Moved to General Fund | $400,000.00 | $ - | |
|
| |
$400,000.00 | | |
|
| | |
| | | |
|
| |
Total Possible Bonding | $11,225,000.00 | $9,193,732.00 |
| $2,685,433.00 | $41,019.00 | $1,980,000.00 |
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PORTABLE CLASSROOMS
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PLANNING FOR FUNDING
Takeaways
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Current Repair Bond Schedule
HYPOTHETICAL BOND SCHEDULE FOR DISCUSSION ONLY
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LONG TERM DEBIT SERVICE
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2028-29
2027-28
2027-28
2026-27
2025-26
2024-25
Total Debt Service: 5.2m
2028-29
2027-28
2027-28
2026-27
2025-26
2024-25
HYPOTHETICAL PLAN: OPERATING CAPITAL, CAPITAL RESERVE, AND DEBT SERVICE
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| 2024-2025 | 2030 | 2030+ |
Operating Capital | $475,000 | $1,000,000 Would allow for a projected replacement/ repair cycle and address unexpected failures. If you budget at $2 a square foot (Industry accounting standards suggest between $2-$4) this number would be $1,389,646 | Adjust for inflationary growth. |
Capital Reserve | $1,245,870 | $3,000,000 This would allow for major project repairs/ replacement and provide “backstop” that would mitigate risk potential. | Adjust for inflationary growth and develop a mechanism that backfills to maintenance levels |
Debt Service | $1,681,000 | $4,278,438 | The high-water mark would be in 2031 ($5,229,450), then begin to recede. |
QUESTIONS?
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