1. 2015-16 Budget Debt Service Enrollment March 9, 2015 1

2. Mission-Focused Budgeting  All students are provided the opportunity and necessary support to engage in relevant, challenging work which contributes to their academic and social growth and development  All staff, teachers, and administrators are part of a larger learning community working together to build collective capacity in order to provide a high-quality, relevant, equitable education for all 2

3. Debt Service 3

4. Debt Service Philosophy  Purchase with cash whenever fiscally sound  Interest cost savings  Debt issuance costs avoided  Limit length of borrowings as much as possible  Review outstanding debt regularly for refunding opportunities/interest recalibration waivers

5. Building Aid 5 Building Aid is generated based on estimated debt service costs and/or cash expenditures from the Capital Fund. With Transfer to Capital Fund Projects, we don’t incur interest costs, so the percentage of the project that is funded by Building Aid is effectively increased. For example, a recent capital project funded with a Transfer to Capital was approx. 83% paid for by Building Aid, although our aid ratio is approx. 69%).

6. Debt Service  Review of Debt Service Schedule Handout  Bonds  Four serial bonds outstanding  Balance of principal & interest outstanding is $24,230,184.  Outstanding bonds will be paid off between 2015-16 and 2022-23.

7. Debt Service Schedule North Colonie Central School District 2015-16 General Fund Debt Service Schedule Average VoterProjectInterestActualBudget 15-16 to 22-23 AuthorizationDescriptionRate 14-15 15-16 16-17 17-18 18-19 19-2020-2121-2222-23 Totals Refunding Bonds3.72%Prin:$915,000$905,000 Series "A" and "B"Int:$117,994$83,681$40,694 Total:$1,032,994$988,681$945,694 $3,055,000 Refunding Bonds2.24%Prin:$345,000 $340,000$130,000$135,000$145,000 Facility Renov & LO & FF BoilersInt:$39,563$32,663$24,963$19,088$15,438$11,238$6,888$2,356 Total:$384,563$377,663$364,963$149,088$150,438$156,238$151,888$147,356 7/1/2004PHASE 34.06%Prin:$1,725,000$0 Serial$32,535,000Int:$34,500$0 Bond Issue(Issue $31,000,000)Total:$1,759,500$0 $16,905,000 Refunding Bonds1.55%Prin:$35,000$1,820,000$1,870,000$1,950,000$2,040,000$2,125,000$2,225,000$2,315,000$2,380,000 Phase 3Int:$538,550$510,900$455,550$388,500$308,700$225,400$138,400$70,750$23,800 2/14/2012Total:$573,550$2,330,900$2,325,550$2,338,500$2,348,700$2,350,400$2,363,400$2,385,750$2,403,800 3/3/2008$3.0 Million Bonded May 20112.09%Prin:$320,000$335,000$350,000$365,000$380,000$395,000 $7,000,000Int:$45,025$39,425$32,725$25,725$18,425$9,875 Excel ProjectsTotal:$365,025$374,425$382,725$390,725$398,425$404,875 Principal:$3,340,000$3,405,000$3,465,000$2,445,000$2,555,000$2,665,000$2,370,000$2,460,000$2,380,000$21,745,000 Interest:$775,632$666,669$553,932$433,313$342,563$246,513$145,288$73,106$23,800$2,485,184 LT Debt:$4,115,632$4,071,669$4,018,932$2,878,313$2,897,563$2,911,513$2,515,288$2,533,106$2,403,800 RAN / TAN Interest:$0 Total Debt:$4,115,632$4,071,669$4,018,932$2,878,313$2,897,563$2,911,513$2,515,288$2,533,106$2,403,800 Increase/Decre ase in Debt (%)-1.116%-1.068%-1.295%-28.381%0.669%0.481%-13.609%0.708%-5.105% Debt Service - Bonds$4,115,632$4,071,669$4,018,932$2,878,313$2,897,563$2,911,513$2,515,288$2,533,106$2,403,800$24,230,184 Debt Service - Installment Leases 125,000 $0 Total Debt Service$4,364,100$4,071,669$4,018,932$2,878,313$2,897,563$2,911,513$2,515,288$2,533,106$2,403,800$24,230,184

8. 2015-16 Debt Service Bond Years Outstanding

9. Debt Service

10. Enrollment 10

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12. Enrollment, Then & Now Grades K-6Grades 7-8Grades 9-12 Total 2008-092,6429682,0385,648 2014-152,5728431,9655,380 Difference-70-125-73-268

13. Live Births, 5-year Averages 1988-2012 1988-1992: 366 1993-1997: 320 1998-2002: 295 2003-2007: 292 2008-2012: 280

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15. Enrollment By Level 13-14 Actual 14-15 Projected 14-15 Actual Difference between projected & actual Elementary 2,505 2,57267 Junior High 8788388435 Senior High 1,9631,9501,96515 Total5,3465,2935,38087

16. Enrollment By Elementary School 13-14 Actual 14-15 Projected 14-15 Actual Difference between projected & actual Blue Creek 4854784813 Boght Hills 44845848729 Forts Ferry 457469459-10 Latham Ridge 41040545752 Loudonville 292296 0 Southgate 413399392-7 Total 2,505 2,57267

17. Enrollment By Elementary Grade 13-14 Actual 14-15 Projected 14-15 Actual Difference between projected & actual K 25728429713 1 31530334239 2 36233434612 3 372376369-7 4 3943833907 5 4114064071 6 3944194212 Total 2,505 2,57267

18. Five Year Projections Grades K-6Grades 7-8Grades 9-12 Total 2014-152,5728431,9655,380 2019-202,6198401,9505,409 Total47-3-1529

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20. Long Term Enrollment Factors  Full Day Kindergarten  New Construction  One Year vs. New Trend 20

21. What’s next? Budget committee current schedule: March 2: Preliminary Budget Overview March 5: Maintenance & Interfund Transfers March 9: Debt service, Enrollment March 16: Equipment, Technology, Revenue, Fund Balance March 19: (*Shaker High School Media Center) New programs and initiatives, including Full Day Kindergarten and ENL, Summer Curriculum March 26: Staffing Changes, Contingency Budget March 30: Voting by Board of Education 21