BOARD OF EDUCATION MEETING August 5 th , 2020 POUGHKEEPSIE CITY SCHOOL DISTRICT OUTLINE: ▪ Proposition 1 ▪ Smith Early Learning Center ▪ Clinton Elementary School ▪ Krieger Elementary School ▪ Morse Elementary School ▪ Warring Elementary School ▪ Poughkeepsie Middle School ▪ Poughkeepsie High School ▪ Proposition 2 ▪ Columbus School / PACE ▪ Pathways: Opportunity Schools ▪ Smith Early Learning Center ▪ Clinton Elementary School ▪ Krieger Elementary School ▪ Morse Elementary School ▪ Warring Elementary School ▪ Poughkeepsie Middle School ▪ Poughkeepsie High School ▪ Schedule ▪ Questions & Answers
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BOARD OF EDUCATION MEETINGAugust 5th, 2020
POUGHKEEPSIECITY SCHOOL DISTRICT OUTLINE:
▪ Proposition 1
▪ Smith Early Learning Center
▪ Clinton Elementary School
▪ Krieger Elementary School
▪ Morse Elementary School
▪ Warring Elementary School
▪ Poughkeepsie Middle School
▪ Poughkeepsie High School
▪ Proposition 2
▪ Columbus School / PACE
▪ Pathways: Opportunity Schools
▪ Smith Early Learning Center
▪ Clinton Elementary School
▪ Krieger Elementary School
▪ Morse Elementary School
▪ Warring Elementary School
▪ Poughkeepsie Middle School
▪ Poughkeepsie High School
▪ Schedule
▪ Questions & Answers
PROPOSITION 1SECURITY AND INFRASTRUCTURE
Includes upgrades to building security / safety and addresses important infrastructure needs.
$48,250,000
PR
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ESmith School ELC
Priority 1
Priority 2
▪ Provide Digital Signage and Landscaping
▪ New Security Entrance
▪ Renovate (6) Toilet Rooms
▪ Renovate (7) Single Toilet Rooms
▪ Restore / Replace Roofing
▪ Replace Ineffective Snow Guards on Roof
▪ Replace Backup Steam Boiler
Energy Performance Contract – Separate From Bond Referendum
▪ Replace Air Handling Unit for Gym
▪ Replace Air Handling Unit for Cafeteria
▪ New HVAC Control System
▪ Upgrade Emergency / Exit Lighting to LED
Fixtures
▪ Replace Unit Ventilators in Classrooms
Proposition 1 Total: $48,250,000
Work to be determined by Audit, could include the following:
PR
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ESmith School ELC
Proposition 1 Total: $48,250,000
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EClinton Elementary School
Priority 1
▪ New Security Entrance
▪ Renovate (6) Toilet Rooms and Associated
Janitors’ Closets
▪ Renovate (4) Single Toilet Rooms
▪ Replace Roofing
▪ Replace Roof Drains
▪ Replace Non-Operational Boiler
Priority 2
▪ Install New Digital Signage
Proposition 1 Total: $48,250,000
PR
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▪ Replace Vacuum Condensate Pump
▪ New HVAC Control System
▪ Upgrade Emergency / Exit Lighting to LED
Fixtures
▪ Replace Unit Ventilators in All Classrooms.
Add Unit Ventilators to Basement
Classrooms.
▪ Replace Exhaust Fans in Girls’ Toilet Rooms
▪ Replace Lighting Fixtures Throughout
Building (Includes Classrooms, Corridors,
Gymnasium, Library, Cafetorium, and
Kitchen)
▪ Replace Air-handling Units for Cafetorium
and Gym
▪ Replace Exhaust Fans for East and West
Wing Classrooms
Clinton Elementary School
Proposition 1 Total: $48,250,000
Energy Performance Contract – Separate From Bond Referendum
Work to be determined by Audit, could include the following:
PR
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EClinton Elementary School
Proposition 1 Total: $48,250,000
PR
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EKrieger Elementary School
Priority 1
▪ New Security Entrance
▪ Renovate (4) Toilet Rooms
▪ Renovate (3) Single Toilet Rooms
▪ Install ADA Compliant Fixtures in PT/OT
Room
▪ Restore Roofing
▪ Replace Select Exterior Doors
▪ Replace Select Interior Doors
▪ Replace Ceilings in Older Portion of the
Building
▪ Replace Second Boiler
▪ Add Exhaust Air to (4) Classrooms by Gym
▪ Replace Vacuum Condensate Return
Pump
Priority 2
▪ Install New Digital Signage ▪ Reconstruct (3) Concrete Entryways
Proposition 1 Total: $48,250,000
PR
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EKrieger Elementary School
▪ Replace Exterior Lighting with New LED
Fixtures
▪ Upgrade Emergency / Exit Lighting to LED
Fixtures
▪ Replace Unit Ventilators in Older
Classrooms and Cafeteria
▪ Replace Lighting Fixtures Throughout
Building (Includes Classrooms, Corridors,
Gymnasium, Cafetorium)
▪ Replace Air-handling Units for Gym and
Add Exhaust Fan
▪ New HVAC Control System
Proposition 1 Total: $48,250,000
Energy Performance Contract – Separate From Bond Referendum
Work to be determined by Audit, could include the following:
PR
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EKrieger Elementary School
Proposition 1 Total: $48,250,000
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EMorse Elementary School
Priority 1
▪ New Security Entrance
▪ Renovate (4) Toilet Rooms
▪ Renovate (6) Single Toilet Rooms
▪ Replace / Restore Roofing
▪ Replace Select, Non-Rated Doors
▪ Replace Sanitary Piping in Gang Toilet
Rooms (includes floor drains)
▪ Replace Sanitary Traps in Janitors’ Closets
(add trap primer)
▪ Replace Boilers
▪ Replace Piped Heating System and
Radiators Throughout Building.
Priority 2
▪ Install New Digital Signage
Proposition 1 Total: $48,250,000
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EMorse Elementary School
▪ Replace Exterior Lighting with New LED
Fixtures
▪ New HVAC Control System
▪ Upgrade Emergency / Exit Lighting to LED
Fixtures
▪ Replace Unit Ventilators in Older
Classrooms and Cafetorium (Include New
Outdoor Louvers)
▪ Replace Lighting Fixtures Throughout
Building (Includes Classrooms, Corridors,
Gymnasium, Cafetorium, and Display
Cabinets)
▪ Replace Air-handling Units and Exhaust
Fans for Gym
Proposition 1 Total: $48,250,000
Energy Performance Contract – Separate From Bond Referendum
Work to be determined by Audit, could include the following:
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EMorse Elementary School
Proposition 1 Total: $48,250,000
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EWarring Elementary School
Priority 1
▪ New Security Entrance
▪ Renovate (4) Toilet Rooms
▪ Renovate (6) Single Toilet Rooms
▪ Replace / Restore Roofing
▪ Replace Select, Non-Rated Doors
▪ Replace Non-Operational Boiler
Priority 2
▪ Install New Digital Signage
▪ Add Air-Handling Equipment Where Necessary
Proposition 1 Total: $48,250,000
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EWarring Elementary School
▪ New HVAC Control System
▪ Install New Exhaust Fans and Vents in All
Classrooms
▪ Replace Unit Ventilators in All Classrooms
▪ Replace Lighting Fixtures Throughout
Building (Includes Classrooms, Corridors,
Gymnasium, Library, Cafeteria)
▪ Replace Air-handling Units and Exhaust
Fan for Gym
▪ Replace Air-handling Unit for Cafeteria
▪ Remove old Air-Handling Unit in
Psychologist’s Office and Install an Exhaust
Fan
Proposition 1 Total: $48,250,000
Energy Performance Contract – Separate From Bond Referendum
Work to be determined by Audit, could include the following:
PR
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EWarring Elementary School
Proposition 1 Total: $48,250,000
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EPoughkeepsie Middle School
Priority 1
Priority 2
▪ Replace Boilers, Burners and Associated
Controls
▪ Provide Digital Signage and Landscaping
▪ New Security Entrance
▪ Renovate (20) Toilet Rooms
▪ Renovate (14) Single Toilet Rooms
▪ Restore / Replace Roofing
▪ Replace Select, Non-Rated Interior Doors
▪ Replace Exterior Doors
▪ Replace Hot and Cold Water Distribution
Piping Back to Main (where replacing
fixtures)
▪ Replace Sanitary Piping Throughout
Building
▪ Add Boiler Box Ventilator and Exhaust
Venting System in Boiler Room
Proposition 1 Total: $48,250,000
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▪ Replace Casework in Classrooms and Art
Room
▪ Replace Lighting Fixtures Throughout
Building (Includes Classrooms, Corridors,
Gymnasium, Cafeteria, Auditorium,
Library, Locker Rooms)
▪ Provide Exhaust Air for All Classrooms
▪ Disconnect / Remove Dust Busters from
Former Woodshop
▪ Replace Cabinet Heater in Office Spaces
▪ Replace Air Handling Unit for Cafeteria
and Install New Exhaust Fans
▪ Replace Air Handling Unit for Pool Area
and Install New Exhaust Fans
▪ New HVAC Control System
▪ Upgrade Emergency / Exit Lighting to LED
Fixtures
▪ Replace Unit Ventilators in Classrooms
Poughkeepsie Middle School
Proposition 1 Total: $48,250,000
Energy Performance Contract – Separate From Bond Referendum
Work to be determined by Audit, could include the following:
PR
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1SEC
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UC
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EPoughkeepsie Middle School
Proposition 1 Total: $48,250,000
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EPoughkeepsie High School
Priority 1
▪ New Security Entrance
▪ Renovate (13) Toilet Rooms
▪ Renovate (14) Single Toilet Rooms
▪ Renovate Girls’ and Boys’ Locker Rooms
▪ Provide Landscaping at Sign
▪ Install Catch Basins and Storm Pipe in
Select Parking lots
▪ Repave Select Parking Lots
▪ Replace Exterior Doors
▪ Replace Overhead Doors (east side of
building)
▪ Restore / Replace Roofing
▪ Replace Select Interior Doors
▪ Provide Ventilation to Necessary Spaces
▪ Provide First Floor Corridor Exhaust Air
Priority 2
▪ Replace Old Condensate Lines in Building
Proposition 1 Total: $48,250,000
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EPoughkeepsie High School
Priority 3
▪ Provide Air Handling Equipment for First Floor Offices
▪ Replace or Provide New Casework Under
Classroom Windows
▪ Replace Lighting Fixtures Throughout
Building (Includes Classrooms, Corridors,
Gymnasium, Cafeterias, Auditorium,
Library)
▪ Replace or Add Unit Ventilators to
Classrooms
▪ Replace Corridor Exhaust and Supply Fan
▪ Replace Auditorium Air-Handling Unit
▪ Upgrade Emergency / Exit Lighting to LED
Fixtures
Proposition 1 Total: $48,250,000
Energy Performance Contract – Separate From Bond Referendum
Work to be determined by Audit, could include the following:
PR
OP
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EPoughkeepsie High School
Proposition 1 Total: $48,250,000
PROPOSITION 2COMPREHENSIVE EDUCATIONAL
PATHWAYS
Includes everything in PROPOSITION 1 and major overhauls to schools and curriculums
$50,541,306
▪ Supermajority Vote▪ Special Legislation▪ Longer Phasing
(11) Period of Probable Usefulness in Bond Resolution: 30 Years 30 Years 30 Years 30 Years 30 Years
(12) Capital Reserve: $0 $0 $0 $0 $0
(13) Assumed Amortization of State Building Aid:(a) Assumed Interest Rate 4.50% 4.50% 4.50% 4.50% 4.50%(b) PPU for State Aid Purposes 15 Years for Reconstruction 15 Years for Reconstruction 15 Years for Reconstruction 15 Years for Reconstruction 15 Years for Reconstruction(c) Commence the later of 18 Months after SED Approval or CSC/Final Cost Report Date Half Year 2023-24 Half Year 2024-25 Half Year 2025-26 Half Year 2026-27 Half Year 2027-28
Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
(14) Vote Date: October 2020 October 2020 October 2020 October 2020 October 2020
(15) SED Approval: January 2022 January 2023 January 2024 January 2025 January 2026
(16) Certificate of Substantial Completion Date: June 2024 June 2025 June 2026 June 2027 June 2028
(17) Final Cost Report Submittal: June 2024 June 2025 June 2026 June 2027 June 2028
(18) First Borrowing: June 15, 2022 June 15, 2023 June 15, 2024 June 15, 2025 June 15, 2026
(19) First Interest: June 15, 2023 June 15, 2024 June 15, 2025 June 15, 2026 June 15, 2027
(20) First Principal: June 15, 2024 June 15, 2025 June 15, 2026 June 15, 2027 June 15, 2028
(22) Period of Probable Usefulness in Bond Resolution: 30 Years 30 Years 30 Years 30 Years 30 Years
(23) Capital Reserve: $0 $0 $0 $0 $0
(24) Assumed Amortization of State Building Aid:(a) Assumed Interest Rate 4.50% 4.50% 4.50% 4.50% 4.50%(b) PPU for State Aid Purposes 15 Years for Reconstruction 15 Years for Reconstruction 15 Years for Reconstruction 15 Years for Reconstruction 15 Years for Reconstruction(c) Commence the later of 18 Months after SED Approval or CSC/Final Cost Report Date Half Year 2023-24 Half Year 2024-25 Half Year 2025-26 Half Year 2026-27 Half Year 2027-28
Poughkeepsie City School District
Bond Percentage is an estimate based on Building Aid Units and presumes that 5% of expenses within the maximum costallowance will not be considered "eligible" costs by SED.
Each year the Current Building Aid Ratio is calculated based on statistics that are 3 years old as provided by the NYS Office ofReal Property Services. (Please refer to Appendix A for a History of State Building Aid Ratios.) Based on the current NYSEducation Law, the Building Aid Ratio will not drop below the Selected Aid Ratio. Some School Districts may be eligible for more
than the Selected Aid Ratio. For School Districts that are eligible for more, the formula will change from year to year.The Building Aid formula is based on the date of the voter referendum.
CAUTION: The schedules shown in this report are based on current laws and regulations and the assumptions listed below. Any changes to these assumptions could significantly alter the local impact. This financial plan is used for illustrative purposes only and is based upon manyvariables: timing of events, interest rates, and District cash flow needs. Your particular financial plan may vary significantly based upon actual future events.
Prop 1
Prop 1 & 2
cjd/kec
Updated: 7/14/2020
Printed: 7/27/2020
Bernard P. Donegan, Inc. TRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20
SUMMARIZED ASSUMPTIONS 1
3
ASSUMPTIONS
CAUTION: The schedules shown in this report are based on current laws and regulations and the assumptions listed below. Any changes to these assumptions could significantly alter the local
impact. This financial plan is used for illustrative purposes only and is based upon many variables: timing of events, interest rates, and District cash flow needs. Your particular financial plan mayvary significantly based upon actual future events.
Capital Reserves -$ Construction/Incidental Costs 89,181,306$
98,791,306 DASNY Fee 1 2,530,000
SUBTOTAL 2 $ 91,711,306
Capitalized Interest Expense 3 7,080,000
TOTAL AUTHORIZATION: $ 98,791,306 TOTAL AUTHORIZATION 98,791,306$
Notes:
1
2
3
EXPENSES
Bonding Amount
REVENUES
FP-Fs submitted to the State in regards to this project should not exceed this total.
Capitalized Interest will be reported to the State separately as part of the Final Cost Report, but will not be included inFP-Fs or SA-139s. Capitalized Interest must be during construction. No capitalized interest expense can be incurredafter the date of CSC's.
REVENUES EXPENSES
Bonding Amount
Additional Issuance Costs for Selling Bonds via the Dormitory Authority of State of New York (Rationale: MatchingInterest Rate for State Aid Reimbursement Purposes).
cjd/kec
Updated: 7/14/2020
Printed: 7/27/2020
Bernard P. Donegan, Inc. TRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20
Budgeted appropriations, Refunded Bonds and Revenue Anticipation Notes are automatically excludedpursuant to provisions of the New York State Constitution and Section 136.00 of the Local Finance Law.
Special equalization rates used for computation of the constitutional debt limit for city school districts areestablished each year by the New York State Department of Equalization and Assessment, and may varyfrom year to year. Therefore, the equalized values shown here may not agree with those shown under thesection "Financial Information".
Although city school districts are prohibited from excluding estimated building aid when computing theirdebt limits, city school districts do receive State building aid.
Includes:Various Cash Projects$18,605,000 Refunding Serial Bond dated December 27, 2017$5,000,000 Energy Performance Contract - Vote 11/18/09$17,225,000 Authorization - Vote 11/17/09Emergency Project
Note: 1. FY 2017-18 building aid forward has been adjusted based on the 2016-17 State Assumed Interest Rate of 2.00%.
2.
3. Does not include Circle of Courage lease payments.
4. Includes Premium of $3,160.
5. Assumes $925,000 will be spent in the 2019-20 fiscal year and reported at year end on the District's ST-3.
CAUTION:
Poughkeepsie City School District
SUMMARY OF EXISTING and FUTURE BUILDING DEBT SERVICE3
Building Debt Excluding BOCES Projects BOCES Capital Project
Federal Subsidy rate reduced by 6.8% for expenses after October 1, 2015. Federal Subsidy rate reduced to 6.9% for expenses afterOctober 1, 2016. Federal Subsidy rate reduced to 6.6% for expenses after October 1, 2017. Federal Subsidy rate reduced to 6.2% forexpenses after October 1, 2018. Reduction in federal subsidy could vary on an annual basis.
State aid may be reduced. Pursuant to Education Law 3602 (6)(e)(5)(c), at least at the end of each ten year segment of an
assumed amortization established for a retro or prospective project, the remaining scheduled assumed semi-annual payments
will be revised based on the interest rate applicable for the current year, if the difference between the current year interest rate
and the interest rate upon which the original assumed amortization is based exceeds one quarter of one-one hundredth.
cjd/kecUpdated: 7/14/2020Printed: 7/27/2020
Bernard P. Donegan, Inc. Summary-Bldg (2)TRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20
6
cjd/kecUpdated: 7/14/2020Printed: 7/27/2020 Bernard P. Donegan, Inc.
TRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20BAR CHART - Summary-Bldg
Includes:Various Cash Projects$18,605,000 Refunding Serial Bond dated December 27, 2017$5,000,000 Energy Performance Contract - Vote 11/18/09$17,225,000 Authorization - Vote 11/17/09Emergency Project
Note: 1. FY 2017-18 building aid forward has been adjusted based on the 2016-17 State Assumed Interest Rate of 2.00%.
2.
3. Does not include Circle of Courage lease payments.
4. Includes Premium of $3,160.
5. Assumes $925,000 will be spent in the 2019-20 fiscal year and reported at year end on the District's ST-3.
CAUTION: State aid may be reduced. Pursuant to Education Law 3602 (6)(e)(5)(c), at least at the end of each ten year segment of an
assumed amortization established for a retro or prospective project, the remaining scheduled assumed semi-annual
payments will be revised based on the interest rate applicable for the current year, if the difference between the current year
interest rate and the interest rate upon which the original assumed amortization is based exceeds one quarter of one-one
hundredth.
Poughkeepsie City School District
SUMMARY OF EXISTING and FUTURE BUILDING DEBT SERVICE 3
Building Debt Excluding BOCES Projects Proposed $48,250,000 Capital Project BOCES Capital Project
Federal Subsidy rate reduced by 6.8% for expenses after October 1, 2015. Federal Subsidy rate reduced to 6.9% for expenses afterOctober 1, 2016. Federal Subsidy rate reduced to 6.6% for expenses after October 1, 2017. Federal Subsidy rate reduced to 6.2% forexpenses after October 1, 2018. Reduction in federal subsidy could vary on an annual basis.
cjd/kecUpdated: 7/27/2020Printed: 7/27/2020
Bernard P. Donegan, Inc. Summary-Bldg CombinedTRIR - PRE & POST CP - Prop 1 - 8-5-20
14
cjd/kecUpdated: 7/27/2020Printed: 7/27/2020
Bernard P. Donegan, Inc.TRIR - PRE & POST CP - Prop 1 - 8-5-20
Includes:Various Cash Projects$18,605,000 Refunding Serial Bond dated December 27, 2017$5,000,000 Energy Performance Contract - Vote 11/18/09$17,225,000 Authorization - Vote 11/17/09Emergency Project
Note: 1. FY 2017-18 building aid forward has been adjusted based on the 2016-17 State Assumed Interest Rate of 2.00%.
2.
3. Does not include Circle of Courage lease payments.
4. Includes Premium of $3,160.
5. Assumes $925,000 will be spent in the 2019-20 fiscal year and reported at year end on the District's ST-3.
CAUTION:
Poughkeepsie City School District
SUMMARY OF EXISTING and FUTURE BUILDING DEBT SERVICE3
Building Debt Excluding BOCES Projects BOCES Capital Project
Federal Subsidy rate reduced by 6.8% for expenses after October 1, 2015. Federal Subsidy rate reduced to 6.9% for expenses afterOctober 1, 2016. Federal Subsidy rate reduced to 6.6% for expenses after October 1, 2017. Federal Subsidy rate reduced to 6.2% forexpenses after October 1, 2018. Reduction in federal subsidy could vary on an annual basis.
State aid may be reduced. Pursuant to Education Law 3602 (6)(e)(5)(c), at least at the end of each ten year segment of an
assumed amortization established for a retro or prospective project, the remaining scheduled assumed semi-annual
payments will be revised based on the interest rate applicable for the current year, if the difference between the current year
interest rate and the interest rate upon which the original assumed amortization is based exceeds one quarter of one-one
hundredth.
Proposed $98,791,306 Capital Project
cjd/kecUpdated: 7/14/2020Printed: 7/27/2020
Bernard P. Donegan, Inc. Summary-Bldg CombinedTRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20
21
cjd/kecUpdated: 7/14/2020Printed: 7/27/2020
Bernard P. Donegan, Inc.TRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20
BLD 4 = (Projects with Voter Approval on or after July 1, 2005)Greater of a) 1999-00 Selected - 10% =
or b) Current Year Calculated =or c) Low Wealth Aid Ratio = N/A
=
BLD 4 Aid Ratio
89.1%
89.1%
MaximumAid Ratio= 95%
Maximum High NeedsAid Ratio= 98%
+
High Needs5% of Building Aid Ratio From "A"
3.7%
A E
SED STATEWIDE AVERAGE INTEREST RATE ASSIGNED BASED ON SED APPROVAL DATE
1 The State Building Aid Ratio may change yearly. The voter authorization only "locks" the District into an aid calculation formula, not the aid ratio.
Merger Aid
++Plus 10%
10.0%
B C D
SED Statewide Average Interest Rate for BuildingSED Interest Rate for Retro ProjectsBorrowings prior to December 1, 2001 Rates not yet available