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Madison Public Schools

Referendum Update

Board of Education - March 14, 2023

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Action to be Completed

Proposed Date

Board approves the submission to the NJDOE for all project approvals

COMPLETED - June 21. 2022

LRFP Board approval and submission to DOE for approval

COMPLETED - June 21, 2022

Referendum Committee recommends breakdown of questions

COMPLETED - December 2022

DOE project approval received

PARTIALLY COMPLETE

Select PR firm to assist/manage communication strategy and develop community education resources

March 2023 for April BOE Agenda

Public release of referendum proposal details and execution of strategy

TBD

Provide notice to DOE for special election (60 days prior)

June, 2022 (or sooner)

Referendum questions submitted to county (at least 19 days prior to vote)

July, 2023 (or sooner)

Madison Referendum Vote

September, 2023 (tentative)

Timeline

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Question Structure Feedback Analysis

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Proposed Referendum Costs

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Question

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Question Cost

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Total Potential Cost

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Question 1

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$48,356,638

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$48,356,638

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Question 2

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$12,876,550

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$61,233,188

(Q1 & Q2)

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Question 3

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$18,311,703

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$79,544,891

(Q1, Q2, & Q3)

  • Phoenix Advisors is steadily monitoring the current economic environment
  • Conservative interest rates have been factored into projections
  • All projects in Questions 1 & 2 are eligible for 34% savings from state funding
  • For every $10M it will cost the average taxpayer $100 (takes debt service aid into account)
  • Average assessed home is based on $690,702

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Current progress

2021-22 and 2022-23 Projects

MHS Ventilation Project ($2,367K)

CAS Partial Roof Replacement ($1,056K)

MHS Chairlift ($87K)

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2023-24 Projects (Proposed)

ROD Grant submissions:

  • HVAC RTUs: TJS, MJS, MHS ($1,070K)
  • Electrical upgrade at KRS ($600K)

Additional Projects:

  • CAS Parking lot addition ($313K)
  • Security Vestibules and Access Controls ($792K)
  • Critical HVAC repairs ($691K)

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$6.98M in referendum projects have already been addressed

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Questions?

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Appendix

  • Madison Public Schools- Referendum Planning Webpage
  • Primary Links & Superintendent Coffee Presentations
  • Support Document Links
  • First Madison Referendum Advisory Committee Presentation
  • See the following slides from the Second Advisory Meeting (November).

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Proposed Referendum Costs

  • The state is still approving the submission of the overall project application
  • The district is awaiting preliminary approval for state aid before the final numbers can be determined.

Approximate Referendum Cost

Estimated Annual Tax Increase

Estimated Monthly Amount

Q1 $50,000,000

$500

$40

Q2 $60,000,000

$600

$50

Q3 $80,000,000

$800

$70

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Central Avenue Addition Rendering

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Kings Road Addition Rendering