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

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SANDWICIT SCHOOL FiNANCE A Report for the Sandwich Public Schools Requirements for FY 94 and FY 95 t Sandwich's situation in the First two years of school reform has been quite simple. It has been a town with a tax rate somewhat below the standard of effort but which nonetheless has enough property wealth to support school budgets well above the foundation. In this situation, the state requires that the town's local contribution increase by its growth factor. Meanwhile, state aid increased by the minimum amounts - $50 per student in FY 94 and $25 per student in FY 95. The result of these requirements is summarized in the table below. Budget Trends, FY 94 and 35 In Thousands of Dollars Net school spending FY 93 FY 94 % Ch FY 95 l Ch on Sandwich schools Gross Standard of Effort 141958 151448 3.3% in FY 93 was $15.2 Standard of Effort 121165 13,152 8.1% million. The re- Local 13 990 3.0% 14 448 3.3% Local�onfr�u#�an � quired increase in Federal Impact act Aid 7 13 13 the local contribution State Aid 1,570 11717 9.3% 11807 5.2% of 3% meant an in- Net School Spending 15,151 157720 3.7% 15,255 3.4% crease in town sup- port of$400,000. Foundation Budget 131951 151020 7.7% Pu State aid was up Pupils Prior Year , , . .. p } 2934 3073 48% about $150,000. In Foundation per Pupil-$s 41756 41888 2.8% all, school spending Spending per Pupil 51359 5,290 -1.3% rose by$550,000, or Inflation Adjusted(94 Dollars) 51359 53155 -3.8% 3.7%7 to $15.7 mil- S endin ala Foundation 112.7% 108.2% lion (Sandwich did P 9 Local Cont% Standard 115.0% 109.9% not contribute more than the minimum required). This amounted to some $5,359 per pupil, which was 12.7% above the founda- tion amount of$4,750 per pupil. The town's contribution of$14.0 million was 115% of what it would have taken to support foundation schools (the standard of effort). Although the $14.0 million contribution was below the gross standard of$15.0 million, there was no requirement to increase to this gross standard because school spending was above founda- tion. ounda- tion. In FY 95, the town was required to increase its contribution by 3.28%, or about $450,000. State aid was up by less than $100,000; total spending increased by about $535,000, or 3.4%. Nl eanwhile, enrollment was up 4.8%, the foundation budget was up 7.7%, and the standard of effort rose by 8.1%. Spending per pupil fell by 1.3%; inflation adjusted spending per pupil Fell by 3.8%. School spending fell from 12.7% above the foundation to , only 8.2% above; the towns contribution was now only 10% above the standard. s Page 9