Proposed change for the 2015 Warrant Timberlane Regional District Funding Formula.
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Transcript of Proposed change for the 2015 Warrant Timberlane Regional District Funding Formula.
Proposed change for the 2015 Warrant
Timberlane Regional District Funding Formula
Current FormulaTotal Budget split
Operating budget funded 100% from ADM
2 years priorCapital budget funded 100% from EPV
2 years prior
ADM Comparison – Then and Now1963-1964 ADM
Atkinson – 382.8 (24.97%)Danville – 167.3 (12.23%)Plaistow – 739.3 (54.02%)Sandown – 79.0 (5.77%)
2013-2014 ADMAtkinson – 902.19 (23.62%)Danville – 739.60 (19.36%)Plaistow – 1,157.76 (30.31%)Sandown – 1,019.82 (26.70%)
EPV Comparison – Then and Now1964 EVP
Atkinson – $9,049,766 (29.23%)Danville – $2,691,870 (8.69%)Plaistow – $15,449,472 (49.89%)Sandown – $3,774,355 (12.19%)
2013 EVPAtkinson – $833,205,847 (33.81%)Danville – $326,761,578 (13.26%)Plaistow – $805,432,034 (32.69%)Sandown – $498,625,370 (20.24%)
Equalized Valuation per Pupil1964
Atkinson - $23,640Danville - $16,090Plaistow - $20,897Sandown - $47,776
2013Atkinson - $951,449Danville - $450,286Plaistow - $786,746Sandown - $519,018
Property Tax Comparison - RateCurrent Education rate
(% increase over previous year)
Atkinson - $14.98 (- 2.03%)Danville - $23.44 (+ 5.73%)Plaistow - $18.01 (- 0.72%)Sandown - $21.98 (+5.17%)
Other Cooperative Formulas31 Cooperative Districts in NH
9 fund based on 100% ADM9 fund based on mix between 50% and 100%
ADM13 fund based on 50% ADM and 50% EPV
Other FactorsPrevious year ADM and EPV3 year average ADM and EPVSplitting budget into capital and operating
Current FormulaTotal Budget split
Operating budget funded 100% from ADM
2 years priorCapital budget funded 100% from EPV
2 years prior
Proposed Formula - DetailsCombine operating and capital budgetsYear 1
80% - 3 year average ADM20% - Total 3 year average EPV
Year 260% - 3 year average ADM40% - Total 3 year average EPV
Proposed Formula - Impact
2013 Atkinson
Danville
Plaistow
Sandown
2013 Rate $15.29 $22.17 $18.09 $20.91
80% ADM – 20% TEPV
$15.97 $20.94 $18.18 $19.51
60% ADM – 40% TEPV
$17.14 $18.69 $18.43 $17.85
% Increase 12.10%
-15.69%
1.69% -14.13
%
2009 2010 2011 2012 2013 2014$10.00
$12.00
$14.00
$16.00
$18.00
$20.00
$22.00
$24.00
Atkinson
Current Proposed
2009 2010 2011 2012 2013 2014$10.00
$12.00
$14.00
$16.00
$18.00
$20.00
$22.00
$24.00
Danville
Current Proposed
2009 2010 2011 2012 2013 2014$10.00
$12.00
$14.00
$16.00
$18.00
$20.00
$22.00
$24.00
Plaistow
Current Proposed
2009 2010 2011 2012 2013 2014$10.00
$12.00
$14.00
$16.00
$18.00
$20.00
$22.00
$24.00
Sandown
Current Proposed
Pros and ConsPros
ADM is a 3 year average to blunt any large changes
Broadens tax base for all four towns in district
EPV is entire district to blunt large changes in EPV
Rate decrease for Danville and Sandown
ConsRate increase for Atkinson and Plaistow