Construction Budget Update

May 16, 2011

The Board recently approved the final Guaranteed Maximum Price from P&C Construction for the new schools. Unfortunately with the increase in fuel and asphalt costs the total project budget will increase by $3.8M to $42M. In order to address the increased costs and stay within our current fundraising schedule the board agreed 1) to complete the main building on time continuing to look for additional savings in materials, incentive and in-kind opportunities, and 2) to postpone starting the science, art, and shop classrooms until next spring (rather than this fall) to allow more time to seek additional funding sources to fill any remaining gap. We are on track for moving into the new schools in September of 2012 and will make accommodations for the art and science classes in the main building during the 2012-13 school year.

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