Cracked and crumbling, some of the basic building systems have outlived their life expectancy.
• The proposed capital improvements project is $19,059,810 and the proposed bond issue is $16,265,810. The difference between the two is being paid for by using the voter-approved Capital Reserve Fund ($1,875,000) and a New York State EXCEL grant in the amount of $919,000.
• The average tax impact per year for an average Manhasset home is $197.29. The annual property tax increase is estimated for each year based on an Averaged Assessed Value of a home in Manhasset of $1,353,506. This is based on the final assessed valuation and adjusted base proportions for 2006-2007, as provided by the Nassau County Assessor's Office in April 2006.
• The district has a fund balance of $14,956,475, broken down as follows: $1,875,000 is the Capital Reserve Fund noted above; $3,705,000 is in the Capital Projects Fund for capital projects at the elementary schools already approved by the voters; approximately $2,040,000 is designated for debt service, cafeteria operations, workers compensation, accounts payable and repairs; $1,500,000 is designated to offset the 06-07 tax levy; and a total of $4 million has been placed in the Insurance and Liability Reserves to provide for certain lawsuits now pending against the district. The undesignated fund balance is $1,346,494 which falls within the state guidelines. The full report is available on the district web site www.manhasset.k12.ny.us.
• Most projects scheduled for replacement or reconstruction have aged beyond their expected life or warranty as identified in the 2005 state-mandated Buildings Conditions Survey.
• Items not included in the Buildings Condition Survey, such as the district-wide security camera system, limited controlled access doors, and emergency generators address a growing community and national concern regarding school safety. The security of the district computer network is also addressed by replacing computer switches which will be out of warranty on July 1, 2007.
• Handicap access-related projects are included to meet New York State code requirements.
• The timing of this February bond referendum vote was an important consideration. If the bond issue is approved, the district can begin work on the Secondary School roof system this summer.
• Vote on Wednesday, Feb. 7. Polls are open from 6:30 a.m. to 10 p.m. in the high school gym.