Proposed SAD 3 spending plan up 10 percent
Bangor Daily News, June 1, 2007
(excerpt) The SAD 3 board worked hard to limit the growth of its proposed 2007-2008 operating budget, but a one-time bond associated with the $40 million new school now under construction pushed the increase to 10.3 percent.
The school board and Superintendent Barbara Rado Mosseau presented the $16.7 million budget proposal at a public hearing on Wednesday night. Voters in the 11 district towns will be asked to approve the spending plan when they go to the polls June 12.
In her letter included with the budget sent to district residents in May, Mosseau explained that the board initially arrived at a budget proposal of $15.8 million, a 3.8 percent increase over the 2006-2007 budget.
But district officials subsequently learned that they must pay about $900,000 in interest on a short-term bond that will allow SAD 3 to pay bills for the new school.
The bond allows the district to pay current bills on the project.
On Thursday, Mosseau said the bond principal will be repaid by state funds, and that the full construction cost of the school, which replaces the Mount View complex in Thorndike, will also be borne by the state.
Even with the one-time bond interest payments, the increase to local taxpayers is 1.6 percent over the 2006-2007 budget, according to the superintendent. SAD 3 will receive 15 percent more in state funds in the next year, she noted.
This article is not available online. It is excerpted here because of its local interest. We offer this excerpt in the belief that such use of this material falls within fair use guidelines. Back issues of newspapers are available at local libraries. Please support your local newspapers!
Bangor Daily News, June 1, 2007
(excerpt) The SAD 3 board worked hard to limit the growth of its proposed 2007-2008 operating budget, but a one-time bond associated with the $40 million new school now under construction pushed the increase to 10.3 percent.
The school board and Superintendent Barbara Rado Mosseau presented the $16.7 million budget proposal at a public hearing on Wednesday night. Voters in the 11 district towns will be asked to approve the spending plan when they go to the polls June 12.
In her letter included with the budget sent to district residents in May, Mosseau explained that the board initially arrived at a budget proposal of $15.8 million, a 3.8 percent increase over the 2006-2007 budget.
But district officials subsequently learned that they must pay about $900,000 in interest on a short-term bond that will allow SAD 3 to pay bills for the new school.
The bond allows the district to pay current bills on the project.
On Thursday, Mosseau said the bond principal will be repaid by state funds, and that the full construction cost of the school, which replaces the Mount View complex in Thorndike, will also be borne by the state.
Even with the one-time bond interest payments, the increase to local taxpayers is 1.6 percent over the 2006-2007 budget, according to the superintendent. SAD 3 will receive 15 percent more in state funds in the next year, she noted.
This article is not available online. It is excerpted here because of its local interest. We offer this excerpt in the belief that such use of this material falls within fair use guidelines. Back issues of newspapers are available at local libraries. Please support your local newspapers!
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