Comparison of 2006-2007 Budget and Tax Rate under the current cost

sharing formula and the proposed cost sharing formula

FY07 Budget

Current

Proposed

Formula

Formula

Difference

%

State Subsidy

12,353,080

12,353,080

0

0

Required Local Contribution

9,501,520

9,501,520

0

0

Additional Local Contribution

1,728,992

1,728,992

0

0

Local Non-Tax Revenue

871,750

871,750

0

0

Total K-12 Budget

24,455,342

24,455,342

0

0

Required Local Contribution*

Eliot

5,469,720

5,469,720

0

0

South Berwick

4,031,800

4,031,800

0

0

Additional Local Only Contribution**

Eliot

995,381

851,788

-143,593

-14.4%

South Berwick

733,611

877,204

143,593

19.6%

Total Assessment

Eliot

6,465,101

6,321,508

-143,593

-2.2%

South Berwick

4,765,411

4,909,004

143,593

3.0%

* Not subject to cost sharing agreement

** Only portion subject to cost sharing agreement

Tax Rate

Tax

Current

Proposed

Per 150K

Formula

Formula

Difference

%

Home

Eliot Additional Local Only Assessment

995,381

851,788

-143,593

-14.4%

Mill Rate ($/1,000 of property valuation)

- Based on State Valuation = $719,700,000

1.38

1.18

-0.20

-14.4%

-29.93

- Based on Local Valuation = $513,531,000

1.94

1.66

-0.28

-14.4%

-41.94

So Berwick Additional Local Only Assessment

733,611

877,204

143,593

19.6%

Mill Rate ($/$1,000 of property valuation)

- Based on State Valuation = $530,500,000

1.38

1.65

0.27

19.6%

40.60

- Based on Local Valuation = $611,305,000

1.20

1.43

0.23

19.6%

35.23

MSAD No. 35 Cost Sharing History

Cost Sharing Formula (unchanged since District formed):

History of % Share for District Towns

Towns

Fiscal Year

So. Berwick

Eliot

1998-1999

43.80%

56.20%

1999-2000

43.33%

56.67%

2000-2001

43.11%

56.89%

2001-2002

42.80%

57.20%

2002-2003

42.90%

57.10%

2003-2004

44.50%

55.50%

2004-2005

44.34%

55.66%

2005-2006

43.05%

56.95%

2006-2007

42.43%

57.57%

Fiscal Capacity

( as Defined in Title 20-A & Used in Local Cost-Sharing Formula)

Towns

Total

Fiscal Year

So. Berwick

Eliot

Valuation

1998-1999

228,225

292,850

521,075

1999-2000

235,150

307,575

542,725

2000-2001

246,125

324,775

570,900

2001-2002

272,775

363,700

636,475

2002-2003

321,025

426,550

747,575

2003-2004

386,450

481,675

868,125

2004-2005

446,150

560,125

1,006,275

2005-2006

466,400

617,100

1,083,500

2006-2007

530,500

719,700

1,250,200

Enrollment by Town by Grade Level

Eliot

South Berwick

District

Year

PK-3

4 - 5

6 - 8

9 - 12

Total

PK-3

4 - 5

6 - 8

9 - 12

Total

Total

1998

384

170

290

374

1218

502

227

349

424

1502

2720

1999

363

191

289

382

1225

496

229

357

441

1523

2748

2000

338

177

275

412

1202

509

235

339

461

1544

2746

2001

333

161

276

397

1167

493

241

370

472

1576

2743

2002

363

155

276

359

1153

503

240

383

483

1609

2762

2003

368

140

277

356

1141

485

227

389

500

1601

2742

2004

365

143

239

365

1112

477

231

373

494

1575

2687

2005

346

143

235

338

1062

479

207

362

502

1550

2612

Projected

Projected

2006

435

157

227

340

1159

475

227

369

515

1586

2745

2007

452

170

233

321

1176

458

248

356

515

1577

2753

2008

461

171

249

285

1166

470

230

368

506

1574

2740

2009

418

195

261

291

1165

467

212

374

509

1562

2727

2010

404

217

265

287

1173

459

222

380

488

1549

2722

2011

386

207

301

296

1190

462

224

359

500

1545

2735

2012

388

193

314

320

1215

453

225

351

511

1540

2755