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