posted by Joe Polk at 9:40 PM /
School board members in Mt. Lebanon say residents should brace themselves for sticker shock when cost estimates for the high school renovation are revealed July 22.
"Costs for the casino on the North Side have gone from $550 million to $775 million," said board member Dan Remely on July 14. "They are seeing significant (construction cost) increases from even 2007. I think when these final numbers (for the high school) come out, some of us up here are going to get rotten eggs and fruit thrown at us."
Remely is one of two board members on a committee reviewing the high school project. The other is Elaine Capucci. The district plans a public forum with architects at 7 p.m. Tuesday, July 22 at the high school auditorium.
Link: www.thealmanac.net/ALM/Story/07-16-ML-HS-planning-B
"Costs for the casino on the North Side have gone from $550 million to $775 million," said board member Dan Remely on July 14. "They are seeing significant (construction cost) increases from even 2007. I think when these final numbers (for the high school) come out, some of us up here are going to get rotten eggs and fruit thrown at us."
Remely is one of two board members on a committee reviewing the high school project. The other is Elaine Capucci. The district plans a public forum with architects at 7 p.m. Tuesday, July 22 at the high school auditorium.
Link: www.thealmanac.net/ALM/Story/07-16-ML-HS-planning-B
Labels: high school renovation, school district
2 Comments:
I was reminded today of how important it is to review the administration’s assumptions when it comes to forecasting. Sometimes the real story is purposefully and artfully camouflaged.
In a conversation concerning this year’s school budget, I recalled the initial budget forecast for 09-10 had a substantial increase in total real estate revenue next year and a modest increase in the millage rate (less than 3%). The forecast, dated 02-27-08, is available on the District’s web site here: http://tinyurl.com/MTLSD-Budget-Estimate
A closer look at the tax base detailed in the forecast (Assessed Valuation is the line item) revealed a $165,088,310 forecasted increase next year, up almost 14%.
There is no way we are looking at that kind of an assessment increase in 2009. But the administration elected to go with forecasting a far-fetched increase to the tax base, rather than expose the approximate two mill increase otherwise required to balance the 09-10 forecast.
CORRECTION - I have no idea where I how I determined a 14% increase in the Tax base.
The projected Assessed Valuation increase in the 02-27-08 forecast is about $165 Million, but it represents only a 7.7% increase.
In addition there is already a forecasted millage increase, 0.7 mills, (about 2.8%).
Combined these two factors account for the forecasted 10.7% total increase in Real Estate Tax Revenue, forecasted to jump from $50.89 Million to $56.36 Million.
My apologies.
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