From the this year’s presentation, here is my summary of the numbers over the past 5 years:

 

Total Holden Holden Cost per student Increase
WRSD budget WRSD Budget
FY19 final
FY19 submtted $94,209,452.00 4.24% $28,087,047.00 6.76% 3,219 $8,725.40 7.25%
FY18 final $90,378,378.00 4.60% $26,188,811.00 6.98% 3,261 $8,125.11 5.21%
FY17 final $86,875,664.00 4.77% $24,767,733.00 8.19% 3,207 $7,723.02 7.55%
FY16 final $82,924,246.00 3.43% $22,892,166.00 4.38% 3,188 $7,180.73 3.26%
FY15 final $80,175,991.00 2.80% $21,931,966.00 0.24% 3,154 $6,953.70 1.35%
FY14 final $77,991,330.00 $21,880,455.00 3,189 $6,861.23
avg increase
past 5 years 3.97% 4.92%

 

Over the past 5 years the entire budget has increased on average 3.97%, while the increase to the Town of Holden has been 4.92%.    When looking at the budget there are three items I would like to call to your attention:

 

 1. General Stabilization

  • FY2012    302,252
  • FY2018   3,410,673  (this year ending June 30th)

For the current budget (FY19), we propose to add another $500,000 to bring the total to $3,910,673.

 

2. Free Cash

  • FY19 budget uses the certified Free Cash from FY17 of $4,046,928.   This is cash that we have left over from FY17.
  • In FY19, we propose to use 36.4% of Free Cash from FY or $1,472,693
  • The remaining 63.4% or $2,574,235, we are not going to touch.

 

3. Reserves

  • Add monies from General Stabilization (3,910,673) and untouched Free Cash (2,574,235) = $6,484,908
  • In the Town Budget Narrative the total is stated as $,6,649,818?.  Not sure how they have a different number.

 

The bottom line is that under the current budget the Town of Holden is sitting on approximately $6,500,000 with a budget slightly over $52,000,000, more then 10% of our budget we have in reserves.   We think it is great that  we have been able to increase the General Stabilization Fund from $302,252 in FY12 to $3,910,673 in FY19 and only use 36.4% of FREE CASH in FY19, but before we do not approved the budgeted number from the WRSD maybe we should think about 1) putting less monies into the General Stabilization Fund or 2) using more of the certified Free cash?

In the end we would make the argument also that a 4.92% average increase the past 5 years is not unreasonable and that our schools are probably the driving force behind  property values in Holden.   We will be supporting their budget at Town Meeting.