This is the first of its kind initiative in Attleboro, where the School Administration and the City Administration have partnered to create a 5-year financial plan to grow and optimize the educational value for invested funds.
The Road Map includes both existing and new revenue and expenditure commitments from my administration. Included are my existing commitments to fund $1m above NSS, share 50% of any tax levy increase, and capital improvement investments to save on operational maintenance costs, but new to this plan, is the promise that as we pay off debt for projects in the schools, the money that was going to service that debt will be allocated to the operational budget. It also includes the promise that if the High School vote passes and we can relocate programs into the new building, old buildings can be sold off and the proceeds of those sales can be moved into an interest bearing stabilization fund for the schools.
The plan also provides for improved transparency in the budgeting and spending process, employs conservative forecasts and will serve as a living document representing the good faith partnership between APS and my administration to make positive gains towards achieving our educational goals.
In the time that we have been working on this plan, we have already begun implementing some of the principles and initiatives and seen a reduction in the estimated deficit from $10.16 million to $9.33 million.
Here is a direct link to the presentation of the plan to the School Committee:
Here is a link to the plan itself:
Five Year Sustainability Plan