11/13/1996 BOARD OF SELECTMEN Executive Session (4)

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SANDWICH SCHOOL FINANCE , A.Report for the Sandwich Public Schools time for low income or other youngsters with special needs. The books/instructional equipment ui ment category includes computers; software, and instructional supplies. The total foundation budget for Sandwich is $15.02 million,or$4,888 per student. The figures in italics shove the expenditures on a per-student basis- $3,860 per elementary stu- dent, $4,239 per high school student, and $13,957 per special education student (in addi- tion g tion to the Y rou hl $4,000 allocated for such student as a member of a regular classroom.) roughly Central administrative costs come to $255 per student. f' The foundation budget can be calculated separately for schools at each grade level. The total for elementary students, excluding special education, is $5.327 million. Adding in the $621,000 for in-school special education elementary students gives an overall total forele- mentary e- rnentary schools of$5.949 million. As indicated earlier,there is no requirement that Sandwich spend its funds in exactly the SIFJf manner laid out in the foundation budget. It is required to report to DoE whether it F'I «' meets the spending targets in the four areas highlighted in bold type-professional devel- opment, evel-o ment, extraordinary maintenance, extended day/year, and instructional equip- ment/books. UNDERSTAZVDING SAND BCH SCHOOL S t The Standard of Effort and the FY 93 Base %i t A useful place t begin an explanation of the spending gIncomea Pro axtY Wealth requirements of the reform law is with the standard of Ek Equarv-ed Valuation$Bns 11613 - Per-Caprta income effort,which is the amount Sandwich taxpayers can be F expected to raise (if necessary)to meet the foundation Sandwich 17,41 M assach u setts 171224budget. The appropriate calculations are spelled out in Sandwich% 101. f the table to the left. Sandwich's equalized property 4i valuation at the time the reform law passed was $1.613 Adjusted Valuation ,f 3o billion. Sandwich's per-capita income of$17,412 was FY 93 Enrollment 21975 just 101.1% of the state average. Sandwich's adjusted Adjusted Valuation per Student-$Mns valuation is its equalized valuation (as calculated by the Sandwich 548 Department ofRevenue- DOR) multiplied by this in Massachusetts 516 come percent. Sandwich% 106.21 f Adjusted valuation is used for two purposes in the law. overBurden Percent 88.8% The first is to calculate S andwich s eligibility for extra state assistance should it be required to raise local taxes by more than its revenue growth pi factor. Sandwich's adjusted valuation per pupil of$548 million is just 6%n above the state J P P P Page 6