let’s do the math

Ok, coming to you live from my couch after burning a batch of box brownies. But there’s much to catch up on, so here we go:

Bond Allocation

After many meetings, the board voted on and approved an allocation for the upcoming bond votes last Thursday morning. It is as follows:

Vondell being paid for by all taxpayers (this isn’t new) - this comes out to $12.71 per $100k of assessed value per year.

Infrastructure projects (Option 1B, new well + pump, Elm Street bridge suspension) being split so that all taxpayers are paying $11.75 per $100k of assessed value per year, users paying that cost plus $198.58 per 5000 cubic feet of usage.

It’s probably just easier to see it in graph form:

If you have questions about how to find your water usage, the easiest thing to do is have your water bills handy. But if not, I can help you figure it out. Hit me up!

This bond allocation is essentially the inverse of what was initially proposed, so this is a change. The majority of the debt service is being paid by users, minority payment being carried by all taxpayers and offset by local options tax revenue.

Some notes:

All taxpayers include users. Users will be paying all of the costs above should the bonds pass, non-users will be paying $12.71 and $11.75 per $100k of assessed value, respectively.

These costs assume no grants or donations will be offsetting the costs of either article. We already know the water infrastructure projects meet requirements for certain Federal, State, and regional grants. The town is also eligible for grants relating to conservation and recreation for the Vondell should we want to pursue them.

The bond payments will decrease each year. So the first year is the highest payment.

A new rate card is coming. User rates are going to increase. Not just for the debt service, but for saving for future capital projects, and running a successful water utility. The Finance Committee is working on updated rates for water and for sewer.

We’re going on a bear hunt…

Jk - we’re going on a brisk walk. I’ll be leading a jaunt at the Vondell this Sunday 12/1 at 10:30am for all interested parties. Dress warm and feel free to bring your kids. It’s about a mile each way. Parking is limited so let me know if you’re planning to come.

More coffee dates and happy hours next week - check the listserv and the town website:

https://townofwoodstock.org/about/acquisition-of-the-woodstock-water-system/

13 days before I can retire my sweatshirt :)