Financial

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Costs presented at the SBC Meeting on 6/2/21 - Option 1H selected at Preferred Schematic Option being submitted to the MSBA by 7/7/21

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Capital Budget Statement

(Included in the PDP submission to the MSBA sent on 3/5/20)

Based on early budgeting of the list of options being presented in the Preliminary Design Report, the projected cost for the new Watertown High School could be on the order of$160 - $200 million inclusive of MSBA reimbursement. The Town of Watertown maintains a healthy balance sheet and its current debt load is well within the recommendedlevel. Currently, the Town has a Standard and Poor rating of AAA. Financing for this project will be based upon a successful debt exclusion override. The Town of Watertown isconfident that it can acquire bonded financing of $200 million when it is approved by the citizens of Watertown in the Spring of 2021. The other significant project the Town iscurrently engaged in is for three elementary schools combined into one project. The budget for this phased project is approximately $170 million with an estimated start date ofJune of 2020 for two of the three schools (Hosmer and Cunniff), followed by the Lowell School, with a project completion date of July 2023.