HomeMy Public PortalAbout04-14-2015 Additional Information - Proposed Loan Order_201504101047245164TOWN OF
WATERTOWN
Thomas J. Tracy
Town Auditor
Office of the Totun Auditor
Administration Building
149 Main Street
Watertown, MA 02472
Phone: 617-972-6460
www.watertown-ma.gov
ttracy@watertown-ma.gov
TO: Honorable Town Council
FROM: Thomas J. Tracy, Town Auditor/Assistant Town Manager of Finance
DATE: April 9, 2015
RE: Additional Information — Proposed Loan Order
Enclosed please find projected financing of the Proposed Loan Order totaling $770,000 for the
replacement of flooring at the Watertown Middle School (approximate cost of $175,000) and for the
purchasing and installing of unit ventilators at the Hosmer School (approximate cost of $595,000).
I believe the project is consistent with one of the Town's priorities of not deferring maintenance and/or
recognition of costs of Capital Equipment, Facilities and Infrastructure to future years.
cc:
Honorable School Committee
Michael J. Driscoll, Town Manager
Dr. Jean M. Fitzgerald, Superintendent of Public Schools
Charles Kellner, Director of School Business Services
Jay Francione, Director of School Facilities and Transportation
Steven Magoon, Director of Community Development & Planning/Asst. Town Manager
Karen Norton, Assistant Town Treasurer/Collector
COST ANALYSIS OF BORROWING
$770,000 FOR WMS FLOORING & HOSMER UNIT VENTILATORS
PRINCIPAL INTEREST TOTAL
YEAR FY PAYMENTS PAYMENTS PAYMENTS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
47,250
47,250
47,250
47,250
47,250
47,250
47,250
47,250
47,250
47,250
29,750
29,750
29,750
29,750
29,750
29,750
29,750
29,750
29,750
29,750
30,800
28,910
27,020
25,130
23,240
21,350
19,460
17,570
15,680
13,790
11,900
10,710
9,520
8,330
7,140
5,950
4,760
3,570
2,380
1,190
78,050
76,160
74,270
72,380
70,490
68,600
66,710
64,820
62,930
61,040
41,650
40,460
39,270
38,080
36,890
35,700
34,510
33,320
32,130
30,940
$ 770,000 $ 288,400 $ 1,058,400
WMS FLOORING IS PAID OVER 10 YEARS
HOSMER UNIT VENTILATORS IS PAID OVER 20 YEARS
INTEREST IS ESTIMATED AT 4%, SUBJECT TO CHANGE