poughkeepsie city school district

BOARD OF EDUCATION MEETINGAugust 5th, 2020

POUGHKEEPSIECITY SCHOOL DISTRICT OUTLINE:

▪ Proposition 1

▪ Smith Early Learning Center

▪ Clinton Elementary School

▪ Krieger Elementary School

▪ Morse Elementary School

▪ Warring Elementary School

▪ Poughkeepsie Middle School

▪ Poughkeepsie High School

▪ Proposition 2

▪ Columbus School / PACE

▪ Pathways: Opportunity Schools

▪ Smith Early Learning Center

▪ Clinton Elementary School

▪ Krieger Elementary School

▪ Morse Elementary School

▪ Warring Elementary School

▪ Poughkeepsie Middle School

▪ Poughkeepsie High School

▪ Schedule

▪ Questions & Answers

PROPOSITION 1SECURITY AND INFRASTRUCTURE

Includes upgrades to building security / safety and addresses important infrastructure needs.

$48,250,000

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ESmith School ELC

Priority 1

Priority 2

▪ Provide Digital Signage and Landscaping

▪ New Security Entrance

▪ Renovate (6) Toilet Rooms

▪ Renovate (7) Single Toilet Rooms

▪ Restore / Replace Roofing

▪ Replace Ineffective Snow Guards on Roof

▪ Replace Backup Steam Boiler

Energy Performance Contract – Separate From Bond Referendum

▪ Replace Air Handling Unit for Gym

▪ Replace Air Handling Unit for Cafeteria

▪ New HVAC Control System

▪ Upgrade Emergency / Exit Lighting to LED

Fixtures

▪ Replace Unit Ventilators in Classrooms

Proposition 1 Total: $48,250,000

Work to be determined by Audit, could include the following:

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ESmith School ELC


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EClinton Elementary School

Priority 1


▪ Renovate (6) Toilet Rooms and Associated

Janitors’ Closets


▪ Replace Roofing

▪ Replace Roof Drains

▪ Replace Non-Operational Boiler

Priority 2

▪ Install New Digital Signage


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▪ Replace Vacuum Condensate Pump



Fixtures

▪ Replace Unit Ventilators in All Classrooms.

Add Unit Ventilators to Basement

Classrooms.

▪ Replace Exhaust Fans in Girls’ Toilet Rooms

▪ Replace Lighting Fixtures Throughout

Building (Includes Classrooms, Corridors,

Gymnasium, Library, Cafetorium, and

Kitchen)

▪ Replace Air-handling Units for Cafetorium

and Gym

▪ Replace Exhaust Fans for East and West

Wing Classrooms

Clinton Elementary School




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EClinton Elementary School


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EKrieger Elementary School

Priority 1




▪ Install ADA Compliant Fixtures in PT/OT

Room

▪ Restore Roofing

▪ Replace Select Exterior Doors

▪ Replace Select Interior Doors

▪ Replace Ceilings in Older Portion of the

Building

▪ Replace Second Boiler

▪ Add Exhaust Air to (4) Classrooms by Gym

▪ Replace Vacuum Condensate Return

Pump

Priority 2

▪ Install New Digital Signage ▪ Reconstruct (3) Concrete Entryways


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▪ Replace Exterior Lighting with New LED

Fixtures


Fixtures

▪ Replace Unit Ventilators in Older

Classrooms and Cafeteria



Gymnasium, Cafetorium)

▪ Replace Air-handling Units for Gym and

Add Exhaust Fan





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EMorse Elementary School

Priority 1




▪ Replace / Restore Roofing

▪ Replace Select, Non-Rated Doors

▪ Replace Sanitary Piping in Gang Toilet

Rooms (includes floor drains)

▪ Replace Sanitary Traps in Janitors’ Closets

(add trap primer)

▪ Replace Boilers

▪ Replace Piped Heating System and

Radiators Throughout Building.

Priority 2



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▪ Replace Exterior Lighting with New LED

Fixtures



Fixtures

▪ Replace Unit Ventilators in Older

Classrooms and Cafetorium (Include New

Outdoor Louvers)



Gymnasium, Cafetorium, and Display

Cabinets)

▪ Replace Air-handling Units and Exhaust

Fans for Gym




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EWarring Elementary School

Priority 1




▪ Replace / Restore Roofing

▪ Replace Select, Non-Rated Doors

▪ Replace Non-Operational Boiler

Priority 2


▪ Add Air-Handling Equipment Where Necessary


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▪ Install New Exhaust Fans and Vents in All

Classrooms

▪ Replace Unit Ventilators in All Classrooms



Gymnasium, Library, Cafeteria)

▪ Replace Air-handling Units and Exhaust

Fan for Gym

▪ Replace Air-handling Unit for Cafeteria

▪ Remove old Air-Handling Unit in

Psychologist’s Office and Install an Exhaust

Fan




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EPoughkeepsie Middle School

Priority 1

Priority 2

▪ Replace Boilers, Burners and Associated

Controls

▪ Provide Digital Signage and Landscaping





▪ Replace Select, Non-Rated Interior Doors

▪ Replace Exterior Doors

▪ Replace Hot and Cold Water Distribution

Piping Back to Main (where replacing

fixtures)

▪ Replace Sanitary Piping Throughout

Building

▪ Add Boiler Box Ventilator and Exhaust

Venting System in Boiler Room


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▪ Replace Casework in Classrooms and Art

Room



Gymnasium, Cafeteria, Auditorium,

Library, Locker Rooms)

▪ Provide Exhaust Air for All Classrooms

▪ Disconnect / Remove Dust Busters from

Former Woodshop

▪ Replace Cabinet Heater in Office Spaces

▪ Replace Air Handling Unit for Cafeteria

and Install New Exhaust Fans

▪ Replace Air Handling Unit for Pool Area

and Install New Exhaust Fans



Fixtures

▪ Replace Unit Ventilators in Classrooms

Poughkeepsie Middle School




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EPoughkeepsie Middle School


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EPoughkeepsie High School

Priority 1




▪ Renovate Girls’ and Boys’ Locker Rooms

▪ Provide Landscaping at Sign

▪ Install Catch Basins and Storm Pipe in

Select Parking lots

▪ Repave Select Parking Lots


▪ Replace Overhead Doors (east side of

building)


▪ Replace Select Interior Doors

▪ Provide Ventilation to Necessary Spaces

▪ Provide First Floor Corridor Exhaust Air

Priority 2

▪ Replace Old Condensate Lines in Building


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Priority 3

▪ Provide Air Handling Equipment for First Floor Offices

▪ Replace or Provide New Casework Under

Classroom Windows



Gymnasium, Cafeterias, Auditorium,

Library)

▪ Replace or Add Unit Ventilators to

Classrooms

▪ Replace Corridor Exhaust and Supply Fan

▪ Replace Auditorium Air-Handling Unit


Fixtures




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PROPOSITION 2COMPREHENSIVE EDUCATIONAL

PATHWAYS

Includes everything in PROPOSITION 1 and major overhauls to schools and curriculums

$50,541,306

▪ Supermajority Vote▪ Special Legislation▪ Longer Phasing

PROPOSITION 1

+ PROPOSITION 2

$98,791,306

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2Columbus School / PACE



▪ Install Unit Ventilators in Classrooms and

Install Split Systems for Office Spaces


▪ Replace Air-handling Units for Gym

▪ Replace Fans in Toilet Rooms

▪ Update HVAC Controls to Tie Into BMS

District Wide

Energy Performance Contract

Proposition 2 Total: $50,541,306 PROP1 + PROP2 = $98,791,306/

Proposition 2 Scope

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2Columbus School / PACE


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2Pathways: Opportunity Schools


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Morse Elementary School

Warring Elementary School

Smith Early Learning Center


Columbus School / PACE


Krieger Elementary School

Poughkeepsie High School

(Arts)

(Technology)

(Medical)

(Literacy)

(Performing Arts)

(Arts, Technology, Medical, Performing Arts)

(Arts, Technology, Medical, Performing Arts)

Each school will focus on an area of

education, and potentially partner

with “Pathway” organizations to aid

student development.

PROP1 + PROP2 = $98,791,306/

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SPathways: Opportunity Schools

KriegerElementary School

PerformingArts

ClintonElementary School

Technology

MorseElementary School

Arts

WarringElementary School

Medical

PM

SPH

S

Arts

Medical

Technology

Performing Arts

Arts

Medical

Technology

Performing Arts

Academic Pathways to be determined by

Superintendent and BOE

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Additional Proposition 2 Scope

▪ Creation of Literacy Center

▪ Renovate Cafeteria

▪ Sidewalk and Driveway Replacement

▪ Building Façade Improvements

▪ Replace All Windows

▪ Replace Vinyl Tile Throughout Building

▪ Restore Wood Floors in Classroom Cubbies

▪ Replace Non-Rated Interior Doors

▪ Replace Acoustic Ceilings Throughout the

Building

▪ Replace Interior Handrails & Guardrails to

meet ADA Standards

▪ Install ADA Lift from First to Second Floor

▪ Replace Drinking Fountains

▪ Air Conditioning Improvements

▪ Piped Heating & Cooling Improvements

▪ Additional Ventilation Improvements

Security & Infrastructure Energy Performance Contract

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Smith School ELC

Ground Floor Plan

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LITERACYCENTER

RENOVATED CORRIDORS


Smith School ELC

Basement Floor Plan

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RENOVATEDCAFETERIA

RENOVATEDCLASSROOMS



▪ Technology Programing

▪ Replace Underground Fuel Storage Tank


Building

▪ Replace/Restore Exterior Handrails &

Guardrails

▪ Replace Select Exterior Doors

▪ Reconstruct Site Retaining Walls

▪ Replace Vinyl Flooring Where Necessary

▪ Reconstruct Damaged Interior Walls

▪ Restore Wood Floors in Classroom Cubbies

▪ Replace Non-Rated Interior Doors


meet ADA Standards

▪ Provide Elevator System

▪ Air Conditioning Improvements

▪ Add Ventilation/Exhaust to Offices, Kitchen,

Reading Room


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MAKER SPACE

Second Floor Plan

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S RENOVATEDCLASSROOMS



▪ Performing Arts Programing

▪ Restore Gymnasium Floor

▪ Classroom Renovations

▪ Restore Wood Floor in Classroom Cubbies


meet ADA Standards


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Ground Floor Plan

PERFORMING ARTS SPACE

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▪ Art Programing

▪ Replace All Windows


Building


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Ground Floor Plan

ART STUDIO SPACE

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▪ Medical Programing

▪ Gut & Renovate School in its Entirety

▪ Replace Underground Fuel Storage Tank

▪ Air Condition Improvements

▪ Provide Vestibule at Gym Entrance

▪ Relocate the Existing Playground

▪ Address Site Drainage Issues

▪ Building Façade Improvements

▪ Replace Windows Throughout Building

▪ Replace Window Lintels where Necessary

▪ Piped Heating & Cooling Improvements


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MEDICAL PROGRAM

Ground Floor Plan

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S RENOVATED CORRIDORS



▪ Pathways Programing

▪ Renovate Cafeteria

▪ Replace Auditorium Seating

▪ Repave West Most Parking Lot

▪ Provide Handrails at Select Exterior Steps

▪ Replace Vinyl Tile in Classrooms

▪ Restore Auditorium Floor

▪ Replace Tile in Kitchen & Locker Rooms

▪ Restore Stage Flooring


Building


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CAFETERIA RENOVATION

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Basement Floor Plan

Anticipated Pathways Location



▪ Pathways Programing

▪ Auditorium Lobby Collaborative Space

▪ Repave Select Parking Lots

▪ Replace Library Flooring

▪ Replace Tile Flooring Throughout Older Portion

of the Building

▪ Restore Auditorium Stage

▪ Ceiling Improvements Throughout Building


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Ground Floor Plan

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COLLABORATIVESPACE

Anticipated Pathways Location

RENOVATED CORRIDORS


SCHEDULE

2020

07 08 09 10 11 12

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

SEQRA

BOE Adopts Vote Date & Scope

Referendum Vote (October 27th)

Design (Proposition 1)

SED Review (Proposition 1)

Design (Proposition 2)

SED Review (Proposition 2)

2031

Questions & Answers

Poughkeepsie City School District

PREVOTE - Estimated Impact of Proposed Capital Project

Draft: August 5, 2020

Prepared By: BERNARD P. DONEGAN, INC. (585) 924-2145

345 Woodcliff Drive, 2nd Floor

Fairport, New York 14450

PROPOSED CAPITAL PROJECT

PRE-VOTE PRE-VOTE

Page

Assumptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .o 3

Debt Statement Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .o 5

Summary of Existing and Future Building Debt Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6

BAR CHART - Estimated Net Local Share of Existing and Future Building Debt Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7

Property Valuation and Tax Rate Background Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8

Historical Change In Assessed Valuation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9

Projected Change In Future Assessed Value and Full Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10

PROP 1 - PRE-VOTE PROPOSED $48,250,000 CAPITAL PROJECT

Estimated State Aid Payments By Project Based On An Assumed Amortization Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11

Estimated State Building Aid Annual Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12

Projected Net Local Share Of Debt Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13

Summary of Existing & Proposed Capital Project Debt Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14

BAR CHART - Estimated Net Local Share of Existing Building Debt Service and Proposed Capital Project . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15

Projected Future Annual Tax Rate per $1,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16

Average Cost to Taxpayer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17

PROP 1 & 2 - PRE-VOTE PROPOSED $98,791,306 CAPITAL PROJECT

Estimated State Aid Payments By Project Based On An Assumed Amortization Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18

Estimated State Building Aid Annual Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19

Projected Net Local Share Of Debt Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20

Summary of Existing & Proposed Capital Project Debt Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21

BAR CHART - Estimated Net Local Share of Existing Building Debt Service and Proposed Capital Project . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22

Projected Future Annual Tax Rate Per $1,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23

Average Cost To Taxpayer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24

Appendix

Analysis of Estimated Project Cost and Maxium Cost Allowance by Building. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .A

History of State Building Aid Ratios. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .o B

STAR Program. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .o C


Table of Contents

ASSUMPTIONS

(1) Enhanced Building Aid Ratio: 91.2% Est. 2020-21

(2) Estimated Bond Percentage: 95.0% Prop 1

95.0% Various Buildings70.0% Various Buildings70.0% Prop 1 & 2

70.0% Various Buildings

Phase 1 Phase 2 Phase 3 Phase 4 * Phase 5 *

(3) Vote Date: October 2020 October 2020 October 2020 December 2020 December 2020

(4) SED Approval: January 2022 January 2023 January 2024 January 2025 January 2026

(5) Certificate of Substantial Completion Date: June 2024 June 2025 June 2026 June 2027 June 2028

(6) Final Cost Report Submittal: June 2024 June 2025 June 2026 June 2027 June 2028

(7) First Borrowing: June 15, 2022 June 15, 2023 June 15, 2024 June 15, 2025 June 15, 2026

(8) First Interest: June 15, 2023 June 15, 2024 June 15, 2025 June 15, 2026 June 15, 2027

(9) First Principal: June 15, 2024 June 15, 2025 June 15, 2026 June 15, 2027 June 15, 2028

(10) Borrowing Rates:Bond Anticipation Notes 4.00% 4.00% 4.00% 4.00% 4.00%Serial Bonds 5.00% 5.00% 5.00% 5.00% 5.00%

(11) Period of Probable Usefulness in Bond Resolution: 30 Years 30 Years 30 Years 30 Years 30 Years

(12) Capital Reserve: $0 $0 $0 $0 $0

(13) Assumed Amortization of State Building Aid:(a) Assumed Interest Rate 4.50% 4.50% 4.50% 4.50% 4.50%(b) PPU for State Aid Purposes 15 Years for Reconstruction 15 Years for Reconstruction 15 Years for Reconstruction 15 Years for Reconstruction 15 Years for Reconstruction(c) Commence the later of 18 Months after SED Approval or CSC/Final Cost Report Date Half Year 2023-24 Half Year 2024-25 Half Year 2025-26 Half Year 2026-27 Half Year 2027-28

Phase 1 Phase 2 Phase 3 Phase 4 Phase 5

(14) Vote Date: October 2020 October 2020 October 2020 October 2020 October 2020

(15) SED Approval: January 2022 January 2023 January 2024 January 2025 January 2026

(16) Certificate of Substantial Completion Date: June 2024 June 2025 June 2026 June 2027 June 2028

(17) Final Cost Report Submittal: June 2024 June 2025 June 2026 June 2027 June 2028

(18) First Borrowing: June 15, 2022 June 15, 2023 June 15, 2024 June 15, 2025 June 15, 2026

(19) First Interest: June 15, 2023 June 15, 2024 June 15, 2025 June 15, 2026 June 15, 2027

(20) First Principal: June 15, 2024 June 15, 2025 June 15, 2026 June 15, 2027 June 15, 2028

(21) Borrowing Rates:Bond Anticipation Notes 4.00% 4.00% 4.00% 4.00% 4.00%Serial Bonds 5.00% 5.00% 5.00% 5.00% 5.00%

(22) Period of Probable Usefulness in Bond Resolution: 30 Years 30 Years 30 Years 30 Years 30 Years

(23) Capital Reserve: $0 $0 $0 $0 $0

(24) Assumed Amortization of State Building Aid:(a) Assumed Interest Rate 4.50% 4.50% 4.50% 4.50% 4.50%(b) PPU for State Aid Purposes 15 Years for Reconstruction 15 Years for Reconstruction 15 Years for Reconstruction 15 Years for Reconstruction 15 Years for Reconstruction(c) Commence the later of 18 Months after SED Approval or CSC/Final Cost Report Date Half Year 2023-24 Half Year 2024-25 Half Year 2025-26 Half Year 2026-27 Half Year 2027-28


Bond Percentage is an estimate based on Building Aid Units and presumes that 5% of expenses within the maximum costallowance will not be considered "eligible" costs by SED.

Each year the Current Building Aid Ratio is calculated based on statistics that are 3 years old as provided by the NYS Office ofReal Property Services. (Please refer to Appendix A for a History of State Building Aid Ratios.) Based on the current NYSEducation Law, the Building Aid Ratio will not drop below the Selected Aid Ratio. Some School Districts may be eligible for more

than the Selected Aid Ratio. For School Districts that are eligible for more, the formula will change from year to year.The Building Aid formula is based on the date of the voter referendum.

CAUTION: The schedules shown in this report are based on current laws and regulations and the assumptions listed below. Any changes to these assumptions could significantly alter the local impact. This financial plan is used for illustrative purposes only and is based upon manyvariables: timing of events, interest rates, and District cash flow needs. Your particular financial plan may vary significantly based upon actual future events.

Prop 1

Prop 1 & 2

cjd/kec

Updated: 7/14/2020

Printed: 7/27/2020

Bernard P. Donegan, Inc. TRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20

SUMMARIZED ASSUMPTIONS 1

3

ASSUMPTIONS

CAUTION: The schedules shown in this report are based on current laws and regulations and the assumptions listed below. Any changes to these assumptions could significantly alter the local

impact. This financial plan is used for illustrative purposes only and is based upon many variables: timing of events, interest rates, and District cash flow needs. Your particular financial plan mayvary significantly based upon actual future events.


(25) Revenue and Expense Breakdown: Prop 1 (Simple majority vote required)

Capital Reserves -$ Construction/Incidental Costs 43,025,000$

48,250,000 DASNY Fee 1 1,255,000

SUBTOTAL 2 $ 44,280,000

Capitalized Interest Expense 3 3,970,000

TOTAL AUTHORIZATION: $ 48,250,000 TOTAL AUTHORIZATION 48,250,000$

Revenue and Expense Breakdown: Prop 1 & 2 (60% majority vote required)

Capital Reserves -$ Construction/Incidental Costs 89,181,306$

98,791,306 DASNY Fee 1 2,530,000

SUBTOTAL 2 $ 91,711,306

Capitalized Interest Expense 3 7,080,000

TOTAL AUTHORIZATION: $ 98,791,306 TOTAL AUTHORIZATION 98,791,306$

Notes:

1

2

3

EXPENSES

Bonding Amount

REVENUES

FP-Fs submitted to the State in regards to this project should not exceed this total.

Capitalized Interest will be reported to the State separately as part of the Final Cost Report, but will not be included inFP-Fs or SA-139s. Capitalized Interest must be during construction. No capitalized interest expense can be incurredafter the date of CSC's.

REVENUES EXPENSES

Bonding Amount

Additional Issuance Costs for Selling Bonds via the Dormitory Authority of State of New York (Rationale: MatchingInterest Rate for State Aid Reimbursement Purposes).

cjd/kec

Updated: 7/14/2020

Printed: 7/27/2020


SUMMARIZED ASSUMPTIONS 2

4

CITY SCHOOL DISTRICT OF THE CITY OF POUGHKEEPSIE

DEBT STATEMENT SUMMARY

As of October 20, 2020

AssessedValuation

Equalization

Rates1 Equalized Value

1,624,626,421$ 104.09% 1,560,790,106$

1,594,662,390 102.30% 1,558,809,765

1,604,715,418 97.64% 1,643,502,067

1,672,057,310 101.57% 1,646,211,7851,795,464,195 108.46% 1,655,416,001

8,064,729,724$

1,612,945,945$

80,647,297$

Borrowings:

7,310,000$

15,245,0002,557,005

25,112,005$

Exclusions:

0$ 2

2,352,903 3

2,352,903$

22,759,102$

48,250,000$

4,300,000

1,917,0001,522,950

215,000 * 55,774,950

78,534,052$

2,113,245$

97.38%

Notes: 1

2

3

*

Budgeted appropriations, Refunded Bonds and Revenue Anticipation Notes are automatically excludedpursuant to provisions of the New York State Constitution and Section 136.00 of the Local Finance Law.

Minus - Appropriations of BOCES CP Excludable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total Net Indebtedness After Giving Effect to the Proposed Capital Project/EPC/BOCES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Net Debt-Contracting Margin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Percentage of Debt-Contracting Power Exhausted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Special equalization rates used for computation of the constitutional debt limit for city school districts areestablished each year by the New York State Department of Equalization and Assessment, and may varyfrom year to year. Therefore, the equalized values shown here may not agree with those shown under thesection "Financial Information".

Although city school districts are prohibited from excluding estimated building aid when computing theirdebt limits, city school districts do receive State building aid.

Energy Performance Contract . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total Inclusions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3rd BOCES Payment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Building Aid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Appropriations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total Exclusions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total Net Indebtedness Before Giving Effect to the Proposed Capital Project/EPC/BOCES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Proposed Capital Project - October Vote. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Proposed Energy Performance Contract . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2nd BOCES Payment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Preliminary, subject to change.

06/30/21

Fiscal YearEnded

06/30/17

06/30/18

06/30/19

06/30/20

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Five-Year Average Equalized Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Debt Limit (5% thereof) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Serial Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Refunding Serial Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5

A B C D E F G H I J K L M N

(A+B) (C-D-E+F) (K-I) (G+M)

Fiscal YearEnding June 30: Total Principal Total Interest

Total DebtService

EstimatedBuilding Aid

Debt ServiceOffsets

Cash Projects /Adjustments

Estimated NetLocal Share Cash Payment Total Principal Total Interest

Total DebtService

EstimatedBOCES

RWADA AidEstimated NetLocal Share

TOTAL NETLOCAL

SHARE FORBUILDINGS $ Change

(K)

2019 2,306,311 987,029 3,293,339 3,527,816 1 142,465 2 650,000 273,059 - - - - - - 273,059 674,7452020 2,344,152 907,231 3,251,383 3,226,270 1 132,510 2 925,000 5 817,602 479,250 - - 479,250 317,992 161,258 978,860 705,801

2021 2,155,586 847,472 3,003,058 1,519,802 120,842 2 - 1,362,413 - 215,000 62,303 277,303 188,876 88,426 1,450,839 471,979

2022 2,202,431 789,686 2,992,118 1,519,802 108,195 2 - 1,364,120 - 104,950 177,372 282,322 192,295 90,027 1,454,147 3,3082023 2,254,704 729,896 2,984,600 1,519,802 94,403 2 - 1,370,394 - 110,000 171,600 281,600 191,803 89,797 1,460,191 6,0432024 2,302,416 663,545 2,965,961 1,519,802 79,583 2 - 1,366,576 - 115,000 165,550 280,550 191,088 89,462 1,456,038 (4,153)2025 2,360,587 593,919 2,954,505 1,519,802 63,697 2 - 1,371,005 - 120,000 159,225 279,225 190,186 89,039 1,460,044 4,0062026 2,384,627 521,788 2,906,415 1,519,802 46,712 2 - 1,339,901 - 120,000 152,625 272,625 185,690 86,935 1,426,835 (33,209)2027 2,452,669 421,639 2,874,308 1,519,802 28,833 2 - 1,325,672 - 135,000 146,025 281,025 191,412 89,613 1,415,286 (11,550)2028 1,750,000 345,931 2,095,931 1,198,355 9,863 2 - 887,713 - 140,000 138,600 278,600 189,760 88,840 976,553 (438,733)2029 1,405,000 267,275 1,672,275 255,754 - - 1,416,521 - 150,000 130,900 280,900 191,327 89,573 1,506,094 529,5412030 1,465,000 201,563 1,666,563 255,754 - - 1,410,809 - 155,000 122,650 277,650 189,113 88,537 1,499,346 (6,749)2031 1,450,000 132,438 1,582,438 127,877 - - 1,454,561 - 165,000 114,125 279,125 190,118 89,007 1,543,568 44,2222032 1,410,000 85,950 1,495,950 - - - 1,495,950 - 175,000 105,050 280,050 190,748 89,302 1,585,252 41,6842033 1,455,000 43,650 1,498,650 - - - 1,498,650 - 180,000 95,425 275,425 187,597 87,828 1,586,478 1,2252034 - - - - - - - - 195,000 85,525 280,525 191,071 89,454 89,454 (1,497,024)2035 - - - - - - - - 200,000 74,800 274,800 187,172 87,628 87,628 (1,826)2036 - - - - - - - - 210,000 63,800 273,800 186,491 87,309 87,309 (319)2037 - - - - - - - - 220,000 52,250 272,250 185,435 86,815 86,815 (494)2038 - - - - - - - - 235,000 40,150 275,150 187,410 87,740 87,740 9252039 - - - - - - - - 245,000 27,225 272,225 185,418 86,807 86,807 (933)

2040 - - - - - - - - 250,000 13,750 263,750 179,645 84,105 84,105 (2,703)

Totals 35,489,278$ 11,393,128$ 46,882,406$ -$ 1,307,708$ 1,575,000$ 18,754,946$ 479,250$ 3,439,950$ 2,098,950$ 6,018,150$ 4,090,647$ 1,927,502$ 19,659,039$

Includes:Various Cash Projects$18,605,000 Refunding Serial Bond dated December 27, 2017$5,000,000 Energy Performance Contract - Vote 11/18/09$17,225,000 Authorization - Vote 11/17/09Emergency Project

Note: 1. FY 2017-18 building aid forward has been adjusted based on the 2016-17 State Assumed Interest Rate of 2.00%.

2.

3. Does not include Circle of Courage lease payments.

4. Includes Premium of $3,160.

5. Assumes $925,000 will be spent in the 2019-20 fiscal year and reported at year end on the District's ST-3.

CAUTION:


SUMMARY OF EXISTING and FUTURE BUILDING DEBT SERVICE3

Building Debt Excluding BOCES Projects BOCES Capital Project

Federal Subsidy rate reduced by 6.8% for expenses after October 1, 2015. Federal Subsidy rate reduced to 6.9% for expenses afterOctober 1, 2016. Federal Subsidy rate reduced to 6.6% for expenses after October 1, 2017. Federal Subsidy rate reduced to 6.2% forexpenses after October 1, 2018. Reduction in federal subsidy could vary on an annual basis.

State aid may be reduced. Pursuant to Education Law 3602 (6)(e)(5)(c), at least at the end of each ten year segment of an

assumed amortization established for a retro or prospective project, the remaining scheduled assumed semi-annual payments

will be revised based on the interest rate applicable for the current year, if the difference between the current year interest rate

and the interest rate upon which the original assumed amortization is based exceeds one quarter of one-one hundredth.

cjd/kecUpdated: 7/14/2020Printed: 7/27/2020

Bernard P. Donegan, Inc. Summary-Bldg (2)TRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20

6

cjd/kecUpdated: 7/14/2020Printed: 7/27/2020 Bernard P. Donegan, Inc.

TRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20BAR CHART - Summary-Bldg

2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033

Estimated Net Local Share 1,362,413 1,364,120 1,370,394 1,366,576 1,371,005 1,339,901 1,325,672 887,713 1,416,521 1,410,809 1,454,561 1,495,950 1,498,650

$(250,000)

$250,000

$750,000

$1,250,000

$1,750,000

$2,250,000

$2,750,000

Est.

Net

Lo

calS

hare

Fiscal Year Ending June 30

Poughkeepsie City School DistrictEstimated Net Local Share of Existing and Future Building Debt Service

(Excludes Emergency Projects and BOCES Capital Project)

7

Towns

Projected AssessedValue Change from

Fiscal Year End2021

EqualizationRate

EnhancedExemption

(SENIOR) for2020-21

BasicExemption for

2020-21

Date Certifiedby NYS Office

of RealPropertyServices

Fiscal Year End2021 Tax Rate

Per $1,000

Percentageof Full

Valuation

\BPD_FS1\SYS\DATA\Reference\Equalization Rates\2005-06 STAR\Albany STAR Exemption Status.htm

City of Poughkeepsie 2.03% 100.00% 82,120$ 35,860$ 04/09/19 $17.04 100.00%

$17.04

$104,466,005

2020-21 Tax Levy: $30,600,878

Tax Levy % of Budget: 29.29%


PROPERTY VALUATION AND TAX RATE BACKGROUND INFORMATION

FULL VALUE Tax Rate

2020-21 General Fund BudgetedAppropriations:


Bernard P. Donegan, Inc. TRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20BACKGROUND

8


HISTORICAL CHANGE IN ASSESSED

VALUATION

Fiscal Year Ended

June 30: City of Poughkeepsie

2016 Assessed Valuation: 1,628,111,586$

% Increase -0.21%

2017 Assessed Valuation: 1,624,626,421

% Increase -1.84%


% Increase 0.63%


% Increase 4.20%


% Increase 7.38%


Average Value Change 33,470,522$

% Change 2.03%


Bernard P. Donegan, Inc. TRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20FININFO

9


PROJECTED CHANGE IN FUTURE ASSESSED

VALUE AND FULL VALUE

Projected Full

Value Assessed ValueCity of Poughkeepsie

NYS Equal. Rate 100.00%

Average AnnualA.V. Change 2.03%

Fiscal YearEnding June 30:

2021 1,795,464,195$ 1,795,464,195$ ##

2022 1,831,912,118 1,831,912,118 ##

2023 1,869,099,934 1,869,099,934 ##

2024 1,907,042,663 1,907,042,663 ##

2025 1,945,755,629 1,945,755,629 ##

2026 1,985,254,468 1,985,254,468 ##

2027 2,025,555,134 2,025,555,134 ##

2028 2,066,673,903 2,066,673,903 ##

2029 2,108,627,383 2,108,627,383 ##

2030 2,151,432,519 2,151,432,519 ##

2031 2,195,106,599 2,195,106,599 ##

2032 2,239,667,263 2,239,667,263 ##

2033 2,285,132,509 2,285,132,509 ##

2034 2,331,520,699 2,331,520,699 ##

2035 2,378,850,569 2,378,850,569 ##

2036 2,427,141,235 2,427,141,235 ##

2037 2,476,412,202 2,476,412,202 ##

2038 2,526,683,370 2,526,683,370 ##

2039 2,577,975,043 2,577,975,043 ##

2040 2,630,307,936 2,630,307,936 ##

2041 2,683,703,187 2,683,703,187 ##

2042 2,738,182,362 2,738,182,362 ##

2043 2,793,767,464 2,793,767,464 ##

cjd/kec

Updated: 7/14/2020

Printed: 7/27/2020


PROJASSESSED

10

12/1/2001

Project Name: Various Buildings Various Buildings Various Buildings

Project Number: 000?-00? 000?-00? 000?-0??

Type of Project: Alterations Alterations Alterations

Date of Approval: 01/15/22 Estimated 01/15/23 Estimated 01/15/24 Estimated

FCR Submittal: 06/15/24 Estimated 06/15/25 Estimated 06/15/26 Estimated

Project Costs: 14,096,667$ 301,316.25 14,096,667$ 301,316.25 16,086,667$ 343,852.50

Date of General Contracts: Estimated 308,095.87 Estimated 308,095.87 Estimated 351,589.18

Date Aid Accrual Commences: Jun-24 Estimated 609,412.12 0.5 Jun-25 Estimated 609,412.12 0.5 Jun-26 Estimated 695,441.68 0.5

Building Aid Ratio: 91.2% Est. 2020-21 91.2% Est. 2020-21 91.2% Est. 2020-21

Bond Percentage: 95.000% Estimated 95.000% Estimated 95.000% Estimated

State Approved Project Costs: - - - - - -

- - -

Term (years): 15 - 15 - 15 -

Rate: 4.5000% Estimated 4.5000% Estimated 4.5000% Estimated

Yes Cap. Int. included in aid payments Yes Cap. Int. included in aid payments Yes Cap. Int. included aid payments

Debt Service on AssumedAmortization (@ BondPercentage): $1,237,388 $1,237,388 $1,412,067

Aid on Assumed

Amortization of Debt

Service

State Assumed

Aid on

Capitalized

Interest (current

calculation)

Total Estimated State

Aid Payments with

Cap. Int.

Aid on Assumed


Service

State Assumed

Aid on

Capitalized

Interest (current

calculation)


Aid Payments with

Cap. Int.

Aid on Assumed


Service

State Assumed

Aid on

Capitalized

Interest (current

calculation)


Aid Payments with

Cap. Int.

SEMI-ANNUAL PAYMENT: $564,249 $25,677 $589,926 $564,249 $25,677 $589,926 $643,903 $29,302 $673,204ANNUAL PAYMENTS $1,128,498 $51,354 $1,179,851 $1,128,498 $51,354 $1,179,851 $1,287,806 $58,603 $1,346,409

Total Aid Payments $770,305 $17,697,770 $770,305 $17,697,770 $879,048 $20,196,131

Phase 1 Phase 2 Phase 3


ESTIMATED STATE AID PAYMENTS BY PROJECT BASED ON AN ASSUMED AMORTIZATION SCHEDULE

cjd/kec

Updated: 7/27/2020

Printed: 7/27/2020

Bernard P. Donegan, Inc.

TRIR - PRE & POST CP - Prop 1 - 8-5-20

PREVOTE AMORTIZE PROJ

11

ESTIMATED STATE BUILDING AID ANNUAL PAYMENTS


Various Buildings Various Buildings Various Buildings

6/30 000?-00? 000?-00? 000?-0??

2022 # 0 02023 1 -$ # -$ # -$ # -$2024 2 589,926 # 589,926 # - # -2025 3 1,769,777 # 1,179,851 # 589,926 # -2026 4 3,032,907 # 1,179,851 # 1,179,851 # 673,2042027 5 3,706,111 # 1,179,851 # 1,179,851 # 1,346,4092028 6 3,706,111 # 1,179,851 # 1,179,851 # 1,346,4092029 7 3,706,111 # 1,179,851 # 1,179,851 # 1,346,4092030 8 3,706,111 # 1,179,851 # 1,179,851 # 1,346,4092031 9 3,706,111 # 1,179,851 # 1,179,851 # 1,346,4092032 # 3,706,111 # 1,179,851 # 1,179,851 # 1,346,4092033 # 3,706,111 # 1,179,851 # 1,179,851 # 1,346,4092034 # 3,706,111 # 1,179,851 # 1,179,851 # 1,346,4092035 # 3,706,111 # 1,179,851 # 1,179,851 # 1,346,4092036 # 3,706,111 # 1,179,851 # 1,179,851 # 1,346,4092037 # 3,706,111 # 1,179,851 # 1,179,851 # 1,346,4092038 # 3,706,111 # 1,179,851 # 1,179,851 # 1,346,4092039 # 3,116,186 # 589,926 # 1,179,851 # 1,346,4092040 # 1,936,334 # - # 589,926 # 1,346,4092041 # 673,204 # - # - # 673,204

TOTALS 55,591,672$ 17,697,770$ 17,697,770$ 20,196,131$

Total AnnualState AidPayments


cjd/kec

Updated: 7/27/2020

Printed: 7/27/2020



PREVOTE ANNUAL AID BY PROJ

12


Proposed $48,250,000 Capital Project

Proposed 19 -Year Maturity Schedule

A B C D E F G H I JC + E F - G H - I

Maturity DateCapital

ReserveAnnual Principal

Payment

RemainingPrincipal Amount

OutstandingAnnual Interest

PaymentAnnual Debt

ServiceLess StateBuilding Aid

Gross LocalShare

Less DebtServiceOffsets Net Local Share

6/15 10291003 5.00% Bonds 4.5000%4.00% Notes

48,250,000$

2023 # -$ -$ 48,250,000 616,800$ 616,800$ -$ 616,800$ 420,000$ 1 196,800$

2024 - 620,000 47,630,000 1,387,800 2,007,800 589,926 1,417,874 1,020,000 1 397,874

2025 - 1,300,000 46,330,000 2,207,400 3,507,400 1,769,777 1,737,623 1,145,000 1 592,623

2026 - 2,520,000 43,810,000 2,316,500 4,836,500 3,032,907 1,803,593 975,000 1 828,593

2027 - 2,770,000 41,040,000 2,190,500 4,960,500 3,706,111 1,254,389 410,000 1 844,389

2028 - 2,935,000 38,105,000 2,052,000 4,987,000 3,706,111 1,280,889 - 1,280,8892029 - 2,550,000 35,555,000 1,905,250 4,455,250 3,706,111 749,139 - 749,1392030 - 2,685,000 32,870,000 1,777,750 4,462,750 3,706,111 756,639 - 756,6392031 - 2,775,000 30,095,000 1,643,500 4,418,500 3,706,111 712,389 - 712,3892032 - 2,875,000 27,220,000 1,504,750 4,379,750 3,706,111 673,639 - 673,6392033 - 3,015,000 24,205,000 1,361,000 4,376,000 3,706,111 669,889 - 669,8892034 - 3,205,000 21,000,000 1,210,250 4,415,250 3,706,111 709,139 - 709,1392035 - 3,365,000 17,635,000 1,050,000 4,415,000 3,706,111 708,889 - 708,8892036 - 3,535,000 14,100,000 881,750 4,416,750 3,706,111 710,639 - 710,6392037 - 3,710,000 10,390,000 705,000 4,415,000 3,706,111 708,889 - 708,8892038 - 3,895,000 6,495,000 519,500 4,414,500 3,706,111 708,389 - 708,3892039 - 3,500,000 2,995,000 324,750 3,824,750 3,116,186 708,564 - 708,5642040 - 2,075,000 920,000 149,750 2,224,750 1,936,334 288,416 - 288,4162041 - 920,000 - 46,000 966,000 673,204 292,796 - 292,796

Totals -$ 48,250,000$ 23,850,250$ 72,100,250$ 55,591,672$ 16,508,584$ 3,970,000$ 12,538,584$

Averages(2024-2041) $0 2,680,556 $0 1,363,968 3,971,303 3,088,426 882,877 $208,947 685,655

Interest/Principal 49.43% Current Tax Levy 30,600,878$

Average Net Local Share/Current Tax Levy 2.24%

Note: 1. Use of Capitalized Interest.

PROJECTED NET LOCAL SHARE OF DEBT SERVICENOTE:

This Financial plan is used for illustrative purposesonly and is based upon many variables: timing of

events, interest rates and District cash flow needs.Your particular financial plan may vary significantly

based upon actual future events.

Prop 1

cjd/kec

Updated: 7/27/2020

Printed: 7/27/2020



PRE VOTE MATURITY

13

A B C D E F G H I J K L M N O P Q R S T U

(A+B) (C-D-E+F) (H+I) (J-K-L) (G+M) (R-S) (N+T)

Fiscal YearEnding June

30: Total Principal Total InterestTotal Debt

ServiceEstimated

Building AidDebt Service

OffsetsCash Projects/ Adjustments

EstimatedExisting NetLocal Share Total Principal Total Interest

Total DebtService


CapitalizedInterest

EstimatedProposed NetLocal Share

TOTAL NETLOCAL SHAREFOR EXISTING

AND PROPOSED $ Change

CashPayment Total Principal Total Interest

Total DebtService

EstimatedBOCES


TOTAL NETLOCAL

SHARE FORBUILDINGS

- - - - - - (N)

2019 2,306,311 987,029 3,293,339 3,527,816 1 142,465 2 650,000 273,059 -$ -$ -$ -$ -$ -$ 273,059$ - - - - - - - 273,059$

2020 2,344,152 907,231 3,251,383 3,226,270 1 132,510 2 925,000 5 817,602 - - - - - - 817,602 544,543 479,250 - - 479,250 317,992 161,258 978,860

2021 2,155,586 847,472 3,003,058 1,519,802 120,842 2 - 1,362,413 - - - - - - 1,362,413 544,811 - 215,000 62,303 277,303 188,876 88,426 1,450,839

2022 2,202,431 789,686 2,992,118 1,519,802 108,195 2 - 1,364,120 - - - - - - 1,364,120 1,707 - 104,950 177,372 282,322 192,295 90,027 1,454,147

2023 2,254,704 729,896 2,984,600 1,519,802 94,403 2 - 1,370,394 - 616,800 616,800 - 420,000 196,800 1,567,194 203,074 - 110,000 171,600 281,600 191,803 89,797 1,656,991

2024 2,302,416 663,545 2,965,961 1,519,802 79,583 2 - 1,366,576 620,000 1,387,800 2,007,800 589,926 1,020,000 397,874 1,764,451 197,257 - 115,000 165,550 280,550 191,088 89,462 1,853,912

2025 2,360,587 593,919 2,954,505 1,519,802 63,697 2 - 1,371,005 1,300,000 2,207,400 3,507,400 1,769,777 1,145,000 592,623 1,963,628 199,178 - 120,000 159,225 279,225 190,186 89,039 2,052,667

2026 2,384,627 521,788 2,906,415 1,519,802 46,712 2 - 1,339,901 2,520,000 2,316,500 4,836,500 3,032,907 975,000 828,593 2,168,494 204,865 - 120,000 152,625 272,625 185,690 86,935 2,255,428

2027 2,452,669 421,639 2,874,308 1,519,802 28,833 2 - 1,325,672 2,770,000 2,190,500 4,960,500 3,706,111 410,000 844,389 2,170,061 1,567 - 135,000 146,025 281,025 191,412 89,613 2,259,674

2028 1,750,000 345,931 2,095,931 1,198,355 9,863 2 - 887,713 2,935,000 2,052,000 4,987,000 3,706,111 - 1,280,889 2,168,602 (1,459) - 140,000 138,600 278,600 189,760 88,840 2,257,442

2029 1,405,000 267,275 1,672,275 255,754 - - 1,416,521 2,550,000 1,905,250 4,455,250 3,706,111 - 749,139 2,165,660 (2,942) - 150,000 130,900 280,900 191,327 89,573 2,255,233

2030 1,465,000 201,563 1,666,563 255,754 - - 1,410,809 2,685,000 1,777,750 4,462,750 3,706,111 - 756,639 2,167,447 1,788 - 155,000 122,650 277,650 189,113 88,537 2,255,984

2031 1,450,000 132,438 1,582,438 127,877 - - 1,454,561 2,775,000 1,643,500 4,418,500 3,706,111 - 712,389 2,166,949 (498) - 165,000 114,125 279,125 190,118 89,007 2,255,956

2032 1,410,000 85,950 1,495,950 - - - 1,495,950 2,875,000 1,504,750 4,379,750 3,706,111 - 673,639 2,169,589 2,639 - 175,000 105,050 280,050 190,748 89,302 2,258,891

2033 1,455,000 43,650 1,498,650 - - - 1,498,650 3,015,000 1,361,000 4,376,000 3,706,111 - 669,889 2,168,539 (1,050) - 180,000 95,425 275,425 187,597 87,828 2,256,3662034 - - - - - - - 3,205,000 1,210,250 4,415,250 3,706,111 - 709,139 709,139 (1,459,400) - 195,000 85,525 280,525 191,071 89,454 798,5922035 - - - - - - - 3,365,000 1,050,000 4,415,000 3,706,111 - 708,889 708,889 (250) - 200,000 74,800 274,800 187,172 87,628 796,517

2036 - - - - - - - 3,535,000 881,750 4,416,750 3,706,111 - 710,639 710,639 1,750 - 210,000 63,800 273,800 186,491 87,309 797,948

2037 - - - - - - - 3,710,000 705,000 4,415,000 3,706,111 - 708,889 708,889 (1,750) - 220,000 52,250 272,250 185,435 86,815 795,7042038 - - - - - - - 3,895,000 519,500 4,414,500 3,706,111 - 708,389 708,389 (500) - 235,000 40,150 275,150 187,410 87,740 796,1282039 - - - - - - - 3,500,000 324,750 3,824,750 3,116,186 - 708,564 708,564 176 - 245,000 27,225 272,225 185,418 86,807 795,371

2040 - - - - - - - 2,075,000 149,750 2,224,750 1,936,334 - 288,416 288,416 (420,149) - 250,000 13,750 263,750 179,645 84,105 372,520

2041 - - - - - - - 920,000 46,000 966,000 673,204 - 292,796 292,796 4,380 - - - - - - 292,796

Totals 35,489,278$ 11,393,128$ 46,882,406$ -$ 1,307,708$ 1,575,000$ 18,754,946$ 48,250,000$ 23,850,250$ 72,100,250$ 55,591,672$ 3,970,000$ 12,538,578$ 31,293,524$ 479,250$ 3,439,950$ 2,098,950$ 6,018,150$ 4,090,647$ 1,927,502$ 33,221,026$



2.




CAUTION: State aid may be reduced. Pursuant to Education Law 3602 (6)(e)(5)(c), at least at the end of each ten year segment of an

assumed amortization established for a retro or prospective project, the remaining scheduled assumed semi-annual

payments will be revised based on the interest rate applicable for the current year, if the difference between the current year

interest rate and the interest rate upon which the original assumed amortization is based exceeds one quarter of one-one

hundredth.


SUMMARY OF EXISTING and FUTURE BUILDING DEBT SERVICE 3

Building Debt Excluding BOCES Projects Proposed $48,250,000 Capital Project BOCES Capital Project



Bernard P. Donegan, Inc. Summary-Bldg CombinedTRIR - PRE & POST CP - Prop 1 - 8-5-20

14


Bernard P. Donegan, Inc.TRIR - PRE & POST CP - Prop 1 - 8-5-20

Combined Local Share Chart

2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041

Combined Net Local Share Proposed - - 196,800 397,874 592,623 828,593 844,389 1,280,889 749,139 756,639 712,389 673,639 669,889 709,139 708,889 710,639 708,889 708,389 708,564 288,416 292,796

Combined Net Local Share 1,362,413 1,364,120 1,370,394 1,366,576 1,371,005 1,339,901 1,325,672 887,713 1,416,521 1,410,809 1,454,561 1,495,950 1,498,650 - - - - - - - -

$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$8,000,000

$9,000,000

$10,000,000

Est.

Net

Lo

calS

hare


Poughkeepsie City School DistrictEstimated Net Local Share of Existing Building Debt Service and Proposed $48,250,000 Capital Project


95% BondPercentage

15


PROJECTED FUTURE ANNUAL TAX RATE PER$1,000



City of Poughkeepsie

2023 0.08$ 0.08$

2024 0.17 0.17

2025 0.25 0.25

2026 0.34 0.34

2027 0.32 0.32

2028 0.30 0.30

2029 0.27 0.27

2030 0.25 0.25

2031 0.23 0.23

2032 0.21 0.21

2033 0.19 0.19

Totals 2.61$ 2.61$

Averages 0.24$ 0.24$

Current YearTax Rate 17.04$ 17.04$

% of CurrentYear Tax

Rate 1.39%

Full Value

Fiscal YearEnding

June 30:

Assessed Value

Average Marginal Increase 2023-2033


TRIR - PRE & POST CP - Prop 1 - 8-5-20PREVOTE PRPD TAX RATE 1

16


AVERAGE COST TO TAXPAYER

19 Year Maturity Schedule for $48,250,000 Capital Project

Income Restrictions* Primary Residence Non-Primary Residence

Annual Monthly Annual Monthly Annual Monthly

Full Value

82120 35860

$50,000 -$ -$ 3$ 0.25$ 12$ 1.00$

75,000 - - 9 0.75 18 1.50

100,000 4 0.33 15 1.25 24 2.00

125,000 10 0.83 21 1.75 30 2.50

150,000 16 1.33 27 2.25 36 3.00

175,000 22 1.83 33 2.75 42 3.50

200,000 28 2.33 39 3.25 48 4.00


NO STARSENIOR/STAR

$82,120 Equalized Value

Exemption Exemption

WITH STAR$35,860 Equalized Value

cjd/kec

Updated: 7/27/2020

Printed: 7/27/2020

Bernard P. Donegan, Inc. TRIR - PRE & POST CP - Prop 1 - 8-5-20

PREVOTE TAXPAYER FULL17

12/1/2001

Project Name: Various Buildings Various Buildings Various Buildings

Project Number: 000?-00? 000?-00? 000?-0??

Type of Project: Alterations Alterations Alterations

Date of Approval: 01/15/22 Estimated 01/15/23 Estimated 01/15/24 Estimated

FCR Submittal: 06/15/24 Estimated 06/15/25 Estimated 06/15/26 Estimated

Project Costs: 17,375,306$ 273,661.07 18,584,000$ 292,698.00 18,584,000$ 292,698.00

Date of General Contracts: Estimated 279,818.44 Estimated 299,283.71 Estimated 299,283.71

Date Aid Accrual Commences: Jun-24 Estimated 553,479.51 0.5 Jun-25 Estimated 591,981.71 0.5 Jun-26 Estimated 591,981.71 0.5

Building Aid Ratio: 91.2% Est. 2020-21 91.2% Est. 2020-21 91.2% Est. 2020-21

Bond Percentage: 70.000% Estimated 70.000% Estimated 70.000% Estimated

State Approved Project Costs: - - - - - -

- - -

Term (years): 15 - 15 - 15 -


Yes Cap. Int. included in aid payments Yes Cap. Int. included in aid payments Yes Cap. Int. included aid payments

Debt Service on AssumedAmortization (@ BondPercentage): $1,123,819 $1,201,996 $1,201,996

Aid on AssumedAmortization of Debt

Service

State AssumedAid on

CapitalizedInterest (current

calculation)

Total Estimated StateAid Payments with

Cap. Int.


Service

State AssumedAid on


calculation)


Cap. Int.


Service

State AssumedAid on


calculation)


Cap. Int.

SEMI-ANNUAL PAYMENT: $512,461 $23,320 $535,782 $548,110 $24,942 $573,053 $548,110 $24,942 $573,053ANNUAL PAYMENTS $1,024,923 $46,640 $1,071,563 $1,096,220 $49,885 $1,146,105 $1,096,220 $49,885 $1,146,105

Total Aid Payments $699,606 $16,073,447 $748,273 $17,191,579 $748,273 $17,191,579

Project Name: Various Buildings Various Buildings ???

Project Number: 000?-00? 000?-0?? 000?-00?Type of Project: Alterations Alterations Alterations

Date of Approval: 01/15/25 Estimated 01/15/26 Estimated January 2024 Estimated

FCR Submittal: 06/15/27 Estimated 06/15/28 Estimated June 2026 Estimated

Project Costs: 18,584,000$ 292,698.00 18,584,000$ 292,698.00 -$ -

Date of General Contracts: Estimated 299,283.71 Estimated 299,283.71 Estimated -

Project Costs: Estimated 292,698.00 Estimated 292,698.00 -

Date Aid Accrual Commences: Jun-27 Estimated 591,981.71 Jun-28 Estimated 591,981.71 Jun-01 Estimated -

Date of General Contracts: April-04 891,265.41 0.5 June-01 891,265.41 0.5 June-01 - 0.5Building Aid Ratio: 91.2% Est. 2020-21 91.2% Est. 2020-21 89.1%

Bond Percentage 70.000% Estimated 70.000% Estimated 95.000% Estimated

State Approved Project Costs - - - - - -

- - -

Term (years): 15 - 15 - 15 -


Yes Cap. Int. included aid payments Yes Cap. Int. included aid payments Yes Cap. Int. included aid payments

Debt Service on AssumedAmortization (@ BondPercentage): $1,201,996 $1,201,996 $0


Service

State AssumedAid on


calculation)


Cap. Int.


Service

State AssumedAid on


calculation)


Cap. Int.


Service

State AssumedAid on


calculation)


Cap. Int.

SEMI-ANNUAL PAYMENT: $548,110 $24,942 $573,053 $548,110 $24,942 $573,053 $0 $0 $0ANNUAL PAYMENTS $1,096,220 $49,885 $1,146,105 $1,096,220 $49,885 $1,146,105 $0 $0 $0

Total Aid Payments $748,273 $17,191,579 $748,273 $17,191,579 $0 $0


Phase 4 Phase 5


ESTIMATED STATE AID PAYMENTS BY PROJECT BASED ON AN ASSUMED AMORTIZATION SCHEDULE


Bernard P. Donegan, Inc.TRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20

PREVOTE AMORTIZE PROJ

18

ESTIMATED STATE BUILDING AID ANNUAL PAYMENTS

Phase 1 Phase 2 Phase 3 Phase 4 Phase 5

Various Buildings Various Buildings Various Buildings Various Buildings Various Buildings

6/30 000?-00? 000?-00? 000?-0?? 000?-00? 000?-0??

2022 # 0 0 0 02023 1 -$ # -$ # -$ # -$ # -$ # -$2024 2 535,782 # 535,782 # - # - # - # -2025 3 1,644,616 # 1,071,563 # 573,053 # - # - # -2026 4 2,790,721 # 1,071,563 # 1,146,105 # 573,053 # - # -2027 5 3,936,826 # 1,071,563 # 1,146,105 # 1,146,105 # 573,053 # -2028 6 5,082,931 # 1,071,563 # 1,146,105 # 1,146,105 # 1,146,105 # 573,0532029 7 5,655,984 # 1,071,563 # 1,146,105 # 1,146,105 # 1,146,105 # 1,146,1052030 8 5,655,984 # 1,071,563 # 1,146,105 # 1,146,105 # 1,146,105 # 1,146,1052031 9 5,655,984 # 1,071,563 # 1,146,105 # 1,146,105 # 1,146,105 # 1,146,1052032 # 5,655,984 # 1,071,563 # 1,146,105 # 1,146,105 # 1,146,105 # 1,146,1052033 # 5,655,984 # 1,071,563 # 1,146,105 # 1,146,105 # 1,146,105 # 1,146,1052034 # 5,655,984 # 1,071,563 # 1,146,105 # 1,146,105 # 1,146,105 # 1,146,1052035 # 5,655,984 # 1,071,563 # 1,146,105 # 1,146,105 # 1,146,105 # 1,146,1052036 # 5,655,984 # 1,071,563 # 1,146,105 # 1,146,105 # 1,146,105 # 1,146,1052037 # 5,655,984 # 1,071,563 # 1,146,105 # 1,146,105 # 1,146,105 # 1,146,1052038 # 5,655,984 # 1,071,563 # 1,146,105 # 1,146,105 # 1,146,105 # 1,146,1052039 # 5,120,202 # 535,782 # 1,146,105 # 1,146,105 # 1,146,105 # 1,146,1052040 # 4,011,368 # - # 573,053 # 1,146,105 # 1,146,105 # 1,146,1052041 # 2,865,263 # - # - # 573,053 # 1,146,105 # 1,146,1052042 # 1,719,158 # - # - # - # 573,053 # 1,146,1052043 # 573,053 # - # - # - # - # 573,053

TOTALS 84,839,761$ 16,073,447$ 17,191,579$ 17,191,579$ 17,191,579$ 17,191,579$

Total AnnualState AidPayments


cjd/kec

Updated: 7/14/2020

Printed: 7/27/2020


TRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20

PREVOTE ANNUAL AID BY PROJ

19


PROJECTED NET LOCAL SHARE OF DEBT SERVICE



A B C D E F G H I JC + E F - G H - I

Maturity DateCapital

ReserveAnnual Principal

Payment

RemainingPrincipal Amount

OutstandingAnnual Interest

PaymentAnnual Debt

ServiceLess State

Building AidGross Local

Share

Less DebtServiceOffsets Net Local Share

6/15 10291003 5.00% Bonds 4.5000%4.00% Notes

98,791,306$

2023 # -$ -$ 98,791,306 751,652$ 751,652$ -$ 751,652$ 560,000$1

191,652$

2024 - 816,306 97,975,000 1,739,565 2,555,871 535,782 2,020,090 1,435,0001

585,090

2025 - 1,715,000 96,260,000 2,698,750 4,413,750 1,644,616 2,769,134 1,520,0001

1,249,134

2026 - 2,635,000 93,625,000 3,613,000 6,248,000 2,790,721 3,457,279 1,545,0001

1,912,279

2027 - 3,665,000 89,960,000 4,481,250 8,146,250 3,936,826 4,209,424 1,650,0001

2,559,424

2028 - 4,595,000 85,365,000 4,498,000 9,093,000 5,082,931 4,010,069 370,0001

3,640,0692029 - 4,935,000 80,430,000 4,268,250 9,203,250 5,655,984 3,547,266 - 3,547,2662030 - 5,195,000 75,235,000 4,021,500 9,216,500 5,655,984 3,560,516 - 3,560,5162031 - 5,415,000 69,820,000 3,761,750 9,176,750 5,655,984 3,520,766 - 3,520,7662032 - 5,655,000 64,165,000 3,491,000 9,146,000 5,655,984 3,490,016 - 3,490,0162033 - 5,960,000 58,205,000 3,182,250 9,142,250 5,655,984 3,486,266 - 3,486,2662034 - 6,280,000 51,925,000 2,882,000 9,162,000 5,655,984 3,506,016 - 3,506,0162035 - 6,595,000 45,330,000 2,565,750 9,160,750 5,655,984 3,504,766 - 3,504,7662036 - 6,930,000 38,400,000 2,234,375 9,164,375 5,655,984 3,508,391 - 3,508,3912037 - 7,245,000 31,155,000 1,920,000 9,165,000 5,655,984 3,509,016 - 3,509,0162038 - 7,605,000 23,550,000 1,557,750 9,162,750 5,655,984 3,506,766 - 3,506,7662039 - 7,275,000 16,275,000 1,177,500 8,452,500 5,120,202 3,332,298 - 3,332,2982040 - 6,170,000 10,105,000 813,750 6,983,750 4,011,368 2,972,382 - 2,972,3822041 - 4,960,000 5,145,000 505,250 5,465,250 2,865,263 2,599,987 - 2,599,9872042 - 3,385,000 1,760,000 257,250 3,642,250 1,719,158 1,923,092 - 1,923,0922043 - 1,760,000 - 88,000 1,848,000 573,053 1,274,947 - 1,274,947

Totals -$ 98,791,306$ 50,508,593$ 149,299,899$ 84,839,761$ 64,460,139$ 7,080,000$ 57,380,139$

Averages

(2024-2043) $0 2,905,627 $0 2,487,847 7,427,412 4,241,988 3,185,424 $337,143 2,859,424

Interest/Principal 51.13% Current Tax Levy 30,600,878$

Average Net Local Share/Current Tax Levy 9.34%

Note: 1. Use of Capitalized Interest.

NOTE:This Financial plan is used for illustrative purposes only

and is based upon many variables: timing of events,interest rates and District cash flow needs. Your

particular financial plan may vary significantly basedupon actual future events.

Prop 1 & 2

cjd/kec

Updated: 7/14/2020

Printed: 7/27/2020


TRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20

PRE VOTE MATURITY

20

A B C D E F G H I J K L M N O P Q R S T U

(A+B) (C-D-E+F) (H+I) (J-K-L) (G+M) (R-S) (N+T)

Fiscal YearEnding June

30: Total Principal Total InterestTotal Debt

ServiceEstimated

Building AidDebt Service

OffsetsCash Projects/ Adjustments

EstimatedExisting NetLocal Share Total Principal Total Interest

Total DebtService


CapitalizedInterest

EstimatedProposed NetLocal Share

TOTAL NETLOCAL SHAREFOR EXISTING

AND PROPOSED $ Change

CashPayment Total Principal Total Interest

Total DebtService

EstimatedBOCES


TOTAL NETLOCAL

SHARE FORBUILDINGS

- - - - - - (N)

2019 2,306,311 987,029 3,293,339 3,527,816 1 142,465 2 650,000 273,059 -$ -$ -$ -$ -$ -$ 273,059$ - - - - - - - 273,059$

2020 2,344,152 907,231 3,251,383 3,226,270 1 132,510 2 925,000 5 817,602 - - - - - - 817,602 544,543 479,250 - - 479,250 317,992 161,258 978,860

2021 2,155,586 847,472 3,003,058 1,519,802 120,842 2 - 1,362,413 - - - - - - 1,362,413 544,811 - 215,000 62,303 277,303 188,876 88,426 1,450,839

2022 2,202,431 789,686 2,992,118 1,519,802 108,195 2 - 1,364,120 - - - - - - 1,364,120 1,707 - 104,950 177,372 282,322 192,295 90,027 1,454,147

2023 2,254,704 729,896 2,984,600 1,519,802 94,403 2 - 1,370,394 - 751,652 751,652 - 560,000 191,652 1,562,046 197,926 - 110,000 171,600 281,600 191,803 89,797 1,651,843

2024 2,302,416 663,545 2,965,961 1,519,802 79,583 2 - 1,366,576 816,306 1,739,565 2,555,871 535,782 1,435,000 585,090 1,951,666 389,620 - 115,000 165,550 280,550 191,088 89,462 2,041,128

2025 2,360,587 593,919 2,954,505 1,519,802 63,697 2 - 1,371,005 1,715,000 2,698,750 4,413,750 1,644,616 1,520,000 1,249,134 2,620,139 668,474 - 120,000 159,225 279,225 190,186 89,039 2,709,179

2026 2,384,627 521,788 2,906,415 1,519,802 46,712 2 - 1,339,901 2,635,000 3,613,000 6,248,000 2,790,721 1,545,000 1,912,279 3,252,180 632,040 - 120,000 152,625 272,625 185,690 86,935 3,339,114

2027 2,452,669 421,639 2,874,308 1,519,802 28,833 2 - 1,325,672 3,665,000 4,481,250 8,146,250 3,936,826 1,650,000 2,559,424 3,885,096 632,917 - 135,000 146,025 281,025 191,412 89,613 3,974,709

2028 1,750,000 345,931 2,095,931 1,198,355 9,863 2 - 887,713 4,595,000 4,498,000 9,093,000 5,082,931 370,000 3,640,069 4,527,782 642,686 - 140,000 138,600 278,600 189,760 88,840 4,616,622

2029 1,405,000 267,275 1,672,275 255,754 - - 1,416,521 4,935,000 4,268,250 9,203,250 5,655,984 - 3,547,266 4,963,787 436,005 - 150,000 130,900 280,900 191,327 89,573 5,053,360

2030 1,465,000 201,563 1,666,563 255,754 - - 1,410,809 5,195,000 4,021,500 9,216,500 5,655,984 - 3,560,516 4,971,324 7,538 - 155,000 122,650 277,650 189,113 88,537 5,059,861

2031 1,450,000 132,438 1,582,438 127,877 - - 1,454,561 5,415,000 3,761,750 9,176,750 5,655,984 - 3,520,766 4,975,326 4,002 - 165,000 114,125 279,125 190,118 89,007 5,064,334

2032 1,410,000 85,950 1,495,950 - - - 1,495,950 5,655,000 3,491,000 9,146,000 5,655,984 - 3,490,016 4,985,966 10,639 - 175,000 105,050 280,050 190,748 89,302 5,075,268

2033 1,455,000 43,650 1,498,650 - - - 1,498,650 5,960,000 3,182,250 9,142,250 5,655,984 - 3,486,266 4,984,916 (1,050) - 180,000 95,425 275,425 187,597 87,828 5,072,7432034 - - - - - - - 6,280,000 2,882,000 9,162,000 5,655,984 - 3,506,016 3,506,016 (1,478,900) - 195,000 85,525 280,525 191,071 89,454 3,595,4702035 - - - - - - - 6,595,000 2,565,750 9,160,750 5,655,984 - 3,504,766 3,504,766 (1,250) - 200,000 74,800 274,800 187,172 87,628 3,592,394

2036 - - - - - - - 6,930,000 2,234,375 9,164,375 5,655,984 - 3,508,391 3,508,391 3,625 - 210,000 63,800 273,800 186,491 87,309 3,595,700

2037 - - - - - - - 7,245,000 1,920,000 9,165,000 5,655,984 - 3,509,016 3,509,016 625 - 220,000 52,250 272,250 185,435 86,815 3,595,8312038 - - - - - - - 7,605,000 1,557,750 9,162,750 5,655,984 - 3,506,766 3,506,766 (2,250) - 235,000 40,150 275,150 187,410 87,740 3,594,5062039 - - - - - - - 7,275,000 1,177,500 8,452,500 5,120,202 - 3,332,298 3,332,298 (174,468) - 245,000 27,225 272,225 185,418 86,807 3,419,105

2040 - - - - - - - 6,170,000 813,750 6,983,750 4,011,368 - 2,972,382 2,972,382 (359,916) - 250,000 13,750 263,750 179,645 84,105 3,056,486

2041 - - - - - - - 4,960,000 505,250 5,465,250 2,865,263 - 2,599,987 2,599,987 (372,395) - - - - - 2,599,9872042 - - - - - - - 3,385,000 257,250 3,642,250 1,719,158 - 1,923,092 1,923,092 (676,895) - - - - - 1,923,092

2043 - - - - - - - 1,760,000 88,000 1,848,000 573,053 - 1,274,947 1,274,947 (648,145) - - - - - 1,274,947

Totals 35,489,278$ 11,393,128$ 46,882,406$ -$ 1,307,708$ 1,575,000$ 18,754,946$ 98,791,306$ 50,508,593$ 149,299,899$ 84,839,761$ 7,080,000$ 57,380,138$ 76,135,083$ 479,250$ 3,439,950$ 2,098,950$ 6,018,150$ 4,090,647$ 1,927,502$ 78,062,586$



2.




CAUTION:


SUMMARY OF EXISTING and FUTURE BUILDING DEBT SERVICE3

Building Debt Excluding BOCES Projects BOCES Capital Project


State aid may be reduced. Pursuant to Education Law 3602 (6)(e)(5)(c), at least at the end of each ten year segment of an

assumed amortization established for a retro or prospective project, the remaining scheduled assumed semi-annual

payments will be revised based on the interest rate applicable for the current year, if the difference between the current year

interest rate and the interest rate upon which the original assumed amortization is based exceeds one quarter of one-one

hundredth.



Bernard P. Donegan, Inc. Summary-Bldg CombinedTRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20

21


Bernard P. Donegan, Inc.TRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20

Combined Local Share Chart

2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043

Combined Net Local Share Proposed - - 191,652 585,090 1,249,134 1,912,279 2,559,424 3,640,069 3,547,266 3,560,516 3,520,766 3,490,016 3,486,266 3,506,016 3,504,766 3,508,391 3,509,016 3,506,766 3,332,298 2,972,382 2,599,987 1,923,092 1,274,947

Combined Net Local Share 1,362,413 1,364,120 1,370,394 1,366,576 1,371,005 1,339,901 1,325,672 887,713 1,416,521 1,410,809 1,454,561 1,495,950 1,498,650 - - - - - - - - - -

$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$8,000,000

$9,000,000

$10,000,000

Est.

Net

Lo

calS

hare


Poughkeepsie City School DistrictEstimated Net Local Share of Existing Building Debt Service and Proposed $98,791,306 Capital Project


70% BondPercentage

22


PROJECTED FUTURE ANNUAL TAX RATEPER $1,000

Proposed $98,791,306 Capital ProjectProposed 21 -Year Maturity Schedule

City ofPoughkeepsie

2023 0.07$ 0.07$

2024 0.27 0.27

2025 0.59 0.59

2026 0.88 0.88

2027 1.16 1.16

2028 1.44 1.44

2029 1.59 1.59

2030 1.55 1.55

2031 1.51 1.51

2032 1.47 1.47

2033 1.43 1.43

2034 0.76 0.76

2035 0.73 0.73

2036 0.71 0.71

2037 0.68 0.68

2038 0.65 0.65

2039 0.55 0.55

2040 0.39 0.39

2041 0.23 0.23

Totals 16.66$ 16.66$

Averages 0.88$ 0.88$

CurrentYear Tax

Rate 17.04$ 17.04$

% ofCurrent

Year TaxRate 5.15%

Full Value

Fiscal YearEnding

June 30:

Assessed Value



TRIR - PRE & POST CP - Prop 1 & 2 - 8-5-20PREVOTE PRPD TAX RATE 1

23


AVERAGE COST TO TAXPAYER

21 Year Maturity Schedule for $98,791,306 Capital Project

Income Restrictions* Primary Residence Non-Primary Residence

Annual Monthly Annual Monthly Annual Monthly

Full Value

82120 35860

$50,000 -$ -$ 12$ 1.00$ 44$ 3.67$

75,000 - - 34 2.83 66 5.50

100,000 16 1.33 56 4.67 88 7.33

125,000 38 3.17 78 6.50 110 9.17

150,000 60 5.00 100 8.33 132 11.00

175,000 81 6.75 122 10.17 153 12.75

200,000 103 8.58 144 12.00 175 14.58


NO STARSENIOR/STAR

$82,120 Equalized Value

Exemption Exemption

WITH STAR$35,860 Equalized Value

cjd/kec

Updated: 7/14/2020

Printed: 7/27/2020


PREVOTE TAXPAYER FULL24


A B C D E F H I

(SUM A TO I)

Columbus School SFB Morse Elementary Gov. Clinton School

Charles B. Warring

Academy

G.W Krieger

Elementary Jr/ Sr High School Middle School

Administration

Building

TOTAL

AUTHORIZATION

0001-xxx 0002-xxx 0004-xxx 0005-xxx 0006-xxx 0007-xxx 0015-xxx 1003-xxx

Alteration/ Alteration/ Alteration/ Alteration/ Alteration/ Alteration/ Alteration/ Alteration/ Alteration/

Reconstruction Reconstruction Reconstruction Reconstruction Reconstruction Reconstruction Reconstruction Reconstruction Reconstruction

CONSTRUCTION: SED Approval

Maximum Cost Allowance -$ 11,425,783$ 7,277,961$ 7,786,802$ 12,243,011$ 34,971,221$ 5,720,601$ 24,500,244$ -$ 103,925,623$

Less: Emergency Boiler Replacement (#0001-012) 7/19/2019 (775,000) - - - - - - - - (775,000)

Less: Various Project #1003-005 10/7/2019 - - - - - - - - - -


Less: Proposed Capital Project __/__/__ - - - - - - - - - -

Less: Proposed Energy Performance Contract __/__/__ - - - - - - - - - -

Maximum Cost Allowance Available (775,000)$ 11,425,783$ 7,277,961$ 7,786,802$ 12,243,011$ 34,971,221$ 5,720,601$ 24,500,244$ -$ 103,150,626$

INCIDENTALS:

Maximum Cost Allowance -$ 2,285,157$ 1,455,592$ 1,557,360$ 2,448,602$ 8,742,805$ 1,144,120$ 6,125,061$ -$ 23,758,698$

Less: Emergency Boiler Replacement (#0001-012) 7/19/2019 - - - - - - - - - -



Less: Proposed Capital Project __/__/__ - - - - - - - - - -

Less: Proposed Energy Performance Contract __/__/__ - - - - - - - - - -

Maximum Cost Allowance Available -$ 2,285,157$ 1,455,592$ 1,557,360$ 2,448,602$ 8,742,805$ 1,144,120$ 6,125,061$ -$ 23,758,701$

126,909,326$

KEY: RED Exceeds aid ceiling. All dollars expended in excess of aid ceiling are 100% local share.

GREEN Positive margin to work with. Total Authorization:

Maximum Cost Allowance based on:

(a) 2019-20 Regional Cost Factor of 1.3188 and

(b) Monthly Cost Index for Dcecember 2019.

(c) Building Aid Units from SA-4 dated 7/30/15, 2/4/16, and 3/10/16.

0

ANALYSIS OF ESTIMATED PROJECT COST AND MAXIMUM COST ALLOWANCE BY BUILDING

G

0008-xxx

W.W. Smith

Elementary


Bernard P. Donegan, Inc. MCA 5-Year Rolling Aid Ceiling AnalysisAnalysis - No Project Costs

A

/NJM

Updated: 12/30/2019

Printed: 7/27/2020

Bernard P. Donegan, Inc. State Aid Ratio Hist 2020-21 Est

State Aid Chart

1999-00 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-202020-21

Est.

Current 62.8% 69.9% 68.9% 69.1% 60.6% 64.5% 64.5% 65.3% 65.3% 66.2% 68.3% 70.4% 73.5% 75.4% 75.4% 77.4%

Selected 65.7% 72.3% 72.3% 72.3% 72.3% 72.3% 72.3% 72.3% 72.3% 72.3% 72.3% 72.3% 73.5% 75.4% 75.4% 77.4%

BLD 4 83.3% 82.3% 82.5% 73.6% 77.7% 77.7% 78.5% 78.5% 79.5% 81.7% 83.9% 87.1% 89.1% 89.1% 91.2%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

History of State Building Aid Ratios1

BLD 4 = (Projects with Voter Approval on or after July 1, 2005)Greater of a) 1999-00 Selected - 10% =

or b) Current Year Calculated =or c) Low Wealth Aid Ratio = N/A

=

BLD 4 Aid Ratio

89.1%

89.1%

MaximumAid Ratio= 95%

Maximum High NeedsAid Ratio= 98%

+

High Needs5% of Building Aid Ratio From "A"

3.7%

A E

SED STATEWIDE AVERAGE INTEREST RATE ASSIGNED BASED ON SED APPROVAL DATE

1 The State Building Aid Ratio may change yearly. The voter authorization only "locks" the District into an aid calculation formula, not the aid ratio.

Merger Aid

++Plus 10%

10.0%

B C D

SED Statewide Average Interest Rate for BuildingSED Interest Rate for Retro ProjectsBorrowings prior to December 1, 2001 Rates not yet available


55.7%

75.4%

N/A75.4%

2019-20Fiscal Year

A+B+C+D =

?.???%4.500% 3.875% 3.625% 3.500% 3.000% 2.625% 2.375% 2.250% 2.250% 2.125% 2.000% 2.000% 2.500% ?.???%2.500%

$5,600,000EPC

Vote Date:11-17-09Yes = 655No = 188

$17,225,000AuthorizationVote Date:11-17-09Yes = 655No = 188

B

poughkeepsie city school district

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