Financial Template Date request received: 8/6/07 Date request completed: School Adminstrative Units: ALTON, BRADLEY, GLENBURN, GREENBUSH, MILFORD, OLD TOWN, ORONO, VEAZIE Superintendents: Alan Smith, Douglas Smith, David Walker, Kelly Clenchy If you make any changes or additions to this template, please email the revised template to: suzan.beaudoin@maine.gov and jim.rier@maine.gov Please note: o This template is based on 2007-08 funding year information and assumes no changes in students, valuations, mill rate, etc. o If the reorganization of school administrative units had occurred during the 2007-08, it is likely that some funds would have been allocated differently resulting in a lower mill expectation in Step 6. An estimate of these reallocated funds could lower the mill expectation to as low as 7.14 mills resulting in lower local contributions. o For 2008-09 funding, many factors will change – pupil counts, valuations, and total State dollars. Currently, an additional $43 million dollars has been appropriated for 2008-09 Funding – this and other factors will result in a lower mill expectation – perhaps as low as 6.80 mills. o Step 9 allows for adjustments to the local additional amount, additional cost for choice students, balance forward (undesignated prior year balances), local nutrition costs and local only debt if applicable. Currently, an example of $1,000,000 has been placed in Column 2 for additional local share. o Once a combined RSU budget has been developed, changes may impact the additional local share – especially any reductions in local administrative costs. o Any amount in the blue shaded boxes can be changed and will result in a recalculation of the template. I encourage you to contact me regarding any changes and I would be happy to assist you in these changes. If you have any questions, please contact me at (207) 624-6790 or suzan.beaudoin@maine.gov Suzan Beaudoin Step 1 Add together allocations for "Adjusted Total Operating Allocation" and "Other Subsidizable Costs" (excluding Debt Service) (ED 281 Line 40): Operating & Other Subs. ED 281 Line 40 ALTON 1,030,136 BRADLEY 1,641,116 GLENBURN 5,727,616 GREENBUSH 2,072,323 MILFORD 3,468,688 OLD TOWN 8,355,178 ORONO 5,136,550 VEAZIE 2,267,543 New RSU Operating & Other Subsidizable Allocation = 29,699,151 Step 2 Determine percentage of pupils (ED 281 Line 21 K-8 plus 9-12 municipal school units OR Section D for SADs /CSDs): Note: K-8 pupils includes 4-year old and early childhood students Subsidizable Percentage Percentage Pupils of Pupils within SAD/CSD ALTON 131.5 3.59% BRADLEY 230.0 6.28% GLENBURN 705.0 19.24% GREENBUSH 256.5 7.00% MILFORD 428.5 11.69% OLD TOWN 996.0 27.18% ORONO 625.0 17.06% VEAZIE 291.5 7.96% New RSU Pupils = 3,664.0 100.00% Financial Template -Step by Step Page 1 of 10Financial Template Date request received: 8/6/07 Date request completed: Financial Template -Step by Step Step 3 Determine new Regional EPS Allocations (Step 1 distributed by percentage of pupils in Step 2): Total RSU Allocations Operating & Other Subs. Alloc. of Pupils from Step 1 (from Step 2) times % of pupils ALTON 3.59% 1,066,200 BRADLEY 6.28% 1,865,107 GLENBURN 19.24% 5,714,117 GREENBUSH 7.00% 2,078,941 MILFORD 11.69% 3,471,831 OLD TOWN 27.18% 8,072,229 ORONO 17.06% 5,066,675 VEAZIE 7.96% 2,364,052 New RSU Oper. & Othr Subs. Alloc. = 100.00% 29,699,151 Step 4 Determine assignment of Debt Service Allocations: Debt Service A. Units with Debt Service ED 281 Line 48 ALTON 1,015 BRADLEY 10,316 GLENBURN 61,376 GREENBUSH 2,518 MILFORD 303,488 OLD TOWN 735,068 ORONO 0 VEAZIE 441,262 New RSU Debt Service Allocation = 1,555,043 B. Distribute SAD or CSD Debt Service Allocations: Percentage RSU Allocations within SAD/CSD Debt Service (from Step 2) (from Step 4 A.) ALTON 1,015 BRADLEY 10,316 GLENBURN 61,376 GREENBUSH 2,518 MILFORD 303,488 OLD TOWN 735,068 ORONO 0 VEAZIE 441,262 New RSU Debt Service Allocation = 1,555,043 Page 2 of 10Financial Template Date request received: 8/6/07 Date request completed: Financial Template -Step by Step Step 5 Combine new RSU Allocations and Debt Service Allocations (Step 3 and Step 4): RSU Allocations Operating & RSU Allocations Other Subs. Debt Service RSU Allocations (from Step 2) (from Step 4 B.) Total ALTON 1,066,200 + 1,015 = 1,067,215 BRADLEY 1,865,107 + 10,316 = 1,875,422 GLENBURN 5,714,117 + 61,376 = 5,775,492 GREENBUSH 2,078,941 + 2,518 = 2,081,458 MILFORD 3,471,831 + 303,488 = 3,775,319 OLD TOWN 8,072,229 + 735,068 = 8,807,297 ORONO 5,066,675 + 0 = 5,066,675 VEAZIE 2,364,052 + 441,262 = 2,805,315 29,699,151 1,555,043 31,254,194 Step 6 Calculate maximum local share per mill expectation: 2006 Times Minimum State Valuation Mill Expectation 2.00 (ED 281 Section D) 7.44 Mills ALTON 32,100,000 238,824 64,200 BRADLEY 70,050,000 521,172 140,100 GLENBURN 211,500,000 1,573,560 423,000 GREENBUSH 47,300,000 351,912 94,600 MILFORD 142,900,000 1,063,176 285,800 OLD TOWN 414,300,000 3,082,392 828,600 ORONO 350,100,000 2,604,744 700,200 VEAZIE 217,250,000 1,616,340 434,500 New RSU 1,485,500,000 11,052,120.00 Page 3 of 10Financial Template Date request received: 8/6/07 Date request completed: Financial Template -Step by Step Step 7 Calculate maximum local contribution: 2006 State But not great than Adjusted Equals Adjusted Valuation Times RSU Allocations Equals Percentage Required Required Percentage Mill Expectation Total Required Local Mill of Local Local Local of Local (from Step 6) (from Step 5) Contribution Rate Contribution Contribution Mill Rate Contribution ALTON 238,824 1,067,215 238,824 7.44 2.16% 238,824 7.44 2.16% BRADLEY 521,172 1,875,422 521,172 7.44 4.72% 521,172 7.44 4.72% GLENBURN 1,573,560 5,775,492 1,573,560 7.44 14.24% 1,573,560 7.44 14.24% GREENBUSH 351,912 2,081,458 351,912 7.44 3.18% 351,912 7.44 3.18% MILFORD 1,063,176 3,775,319 1,063,176 7.44 9.62% 1,063,176 7.44 9.62% OLD TOWN 3,082,392 8,807,297 3,082,392 7.44 27.89% 3,082,392 7.44 27.89% ORONO 2,604,744 5,066,675 2,604,744 7.44 23.57% 2,604,744 7.44 23.57% VEAZIE 1,616,340 2,805,315 1,616,340 7.44 14.62% 1,616,340 7.44 14.62% New RSU 11,052,120 31,254,194 11,052,120 7.44 100.00% 11,052,120 7.44 100.00% 0 Step 8 Calculate State contribution: RSU Allocations Total (Step 5) 31,254,194 Less Local Contribution (Step 7) 11,052,120 Equal State Contribution 20,202,074 Adjustment Min. Spec. Ed. 0 Adjusted State Contribution 20,202,074 Step 9A. Adjust Local contribution for Minimum Spec. Ed. and Debt Service Adjustments: (1) (2) (3) (4) Adjusted Adjusted Required Percentage of Distribution of Required Local Local Min. Spec. Ed. Local Contribution Contribution Adjustment Contribution (Col. 3 less (Step 7) (Step 8) (Step 7) Cols. 2) ALTON 2.16% 0 238,824 238,824 BRADLEY 4.72% 0 521,172 521,172 GLENBURN 14.24% 0 1,573,560 1,573,560 GREENBUSH 3.18% 0 351,912 351,912 MILFORD 9.62% 0 1,063,176 1,063,176 OLD TOWN 27.89% 0 3,082,392 3,082,392 ORONO 23.57% 0 2,604,744 2,604,744 VEAZIE 14.62% 0 1,616,340 1,616,340 New RSU 100.00% 0 11,052,120 11,052,120 Page 4 of 10Financial Template Date request received: 8/6/07 Date request completed: Financial Template -Step by Step Step 9B. Possible adjustments and additions to required Local Contribtution: (1) (2) (3) (4) (5) (6) PLUS PLUS LESS PLUS PLUS Additional Local Percentage of Share excluding Addl. Local Required Local amounts in Cols. Local Assessment for Balance Local Only Contribution Contribution (3), (4), (5) & (6) Share Choice Students Forward Nutrition Debt Service (Step 7) (Step 7) 1,000,000 % (Assigned) (Assigned) (Assigned) (To be determined) ALTON 2.16% 238,824 21,600 2.16% BRADLEY 4.72% 521,172 47,200 4.72% GLENBURN 14.24% 1,573,560 142,400 14.24% GREENBUSH 3.18% 351,912 31,800 3.18% MILFORD 9.62% 1,063,176 96,200 9.62% OLD TOWN 27.89% 3,082,392 278,900 27.89% ORONO 23.57% 2,604,744 235,700 23.57% VEAZIE 14.62% 1,616,340 146,200 14.62% New RSU Pupils = 100.00% 11,052,120 1,000,000 0 0 0 0 If Column (2) has already been adjusted by a unit's balance forward then Column (4) should be zero. Page 5 of 10Financial Template Date request completed: 8/9/07 Template -Step by Step Page 6 of 10Financial Template Date request completed: 8/9/07 Template -Step by Step Page 7 of 10Financial Template Date request completed: 8/9/07 Template -Step by Step Page 8 of 10Financial Template Date request completed: 8/9/07 Template -Step by Step Page 9 of 10Financial Template Date request completed: 8/9/07 Template -Step by Step (7) TOTAL Local (To be determined) Shares 260,424 568,372 1,715,960 383,712 1,159,376 3,361,292 2,840,444 1,762,540 12,052,120 Page 10 of 10