Vote NO on October 2 to Demand Fiscal Responsibility

$53 MILLION PLUS!

• The real cost of this facilities plan is much higher than the published $53 million. The lack of transparency in not publishing this information is troubling.
• The asset value of the swimming pool has been completely omitted from the cost analysis. Estimates are $8 to $10 million dollars.
• The cost to rent another pool and bus the swim team to that location is also inexplicably missing from the cost analysis.
• Future maintenance costs for the turf at the High School athletic field have also been omitted.
• Ongoing running costs for the kitchen, food preparation, food storage and delivery expenses have also been omitted. Details on staff hires or outsource contracts are also missing.

TAX IMPACT

• The Funding & Tax Impact page on the Facilities website will show the latest Administration estimates.
• Rutherford taxpayers are still paying off the bond issued in 2002 when over $30 million was spent on facilities upgrades at all schools.
• The duration of the new bond to be issued has not yet been determined. 20, 25 and 30 year bonds have all been discussed by the Administration.
• Interest on the $53 million bond will add another $30 to $35 million to the total cost.
• The tables below display impact of sample interest rates as seen on the Administration website.

Vote NO on October 2

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