Does that sound reasonable? Yeah, that works. Um the next comment was just with it was kind of a clarifying question. At Monavista because the kids can't use their phones during the school day, we always like um say that if you need to contact your parent, you're using a school device or phone and I don't I just don't know if that's like something special to what we've been doing or if that's kind of like what we've done in the past. And so I just wanted to see like what is how are people reading this? Like um the kids can use their phone to contact their parent as long as the teacher or staff member told them or just that like we're allowing them to contact families. That was all I was wondering. I'm actually not reading it that way at all. I'm reading it as um students may contact their parent or guardian during the school day with express permission from a teacher or staff member and that it doesn't like delineate like it doesn't say students' personal device.
The current numbers 61 Pelum residents and 66 choice students is almost balanced. But more importantly, the long-term data shows that school choice has been a stabilizing force in Pelum for nearly 20 years. The graph presented by the district makes this clear. School choice enrollment has remained steady over time even as resident enrollment has fluctuated. This stability is what allowed Pelum to maintain viable class sizes, preserve programming, and keep Pelum Elementary functioning as a K- through6 school. It's difficult to understand why, without projections of FY28 and FY29, why school choice is being framed as a structural concern when the long-term trends suggest the opposite. And and the other thing about the report is attendance is included in the budget report. Even though our attendance rates are normal and absenteeism is not a budget driver, it's not clear how this information helps us understand the FY27 budget.
They, you know, you do pay for some of them through fees. Couple of them are paid through grants, but all of them pretty much are not in the general fund. Um that's because we've been good stewards of your money. So, Are we Are we ready to transition to to Jim? Um I just want to just make one more point. >> Okay. I just want to be be cognizant of the time. I want to make sure we have enough time for questions. I think that's fair enough. >> [snorts] >> Um Look, I I I'll just I'll keep it brief as much as I can. Um you know, I've been the town manager here for 10 years. I've been part of your finances for 13. In that time, we went from a double A bond rating to triple A, from rainy day reserves of five of below 5% to above 10%.
Next, the next way to make money from the stock market is through dividends. And what dividends are is they are essentially a reward that the company's paying you out in return for holding their stocks. And it's done to attract shareholders and get more people to buy their stocks. Now, dividends are paid out per share. So, the more shares of a company that you have, the larger your dividend payment is going to be. Just to show you a quick example of this, here's how investors made money from Apple stock last year. Now, in terms of appreciation, Apple had a great year. They appreciated by 19.3%, which means that if you had put $100 into Apple at the end of at the beginning of the year, you would have $119.30 by the end of the year. Now, in terms of dividends, Apple also paid out a dividend of $1.3 per share.
So, she, uh, started over at the high school and then for the last year, she's been working with Mrs. Rocco over at school number three. So, we wish her well on, um, the next chapter of her life. >> [snorts] >> If you could turn to page eight. So, resolution number 23, um, superintendent of schools to approve, uh, school five remain open on Friday, April 3rd for all staff and students with an early dismissal at 12:30 due to the previously recommended school closure on March 20th. There was, uh, construction work that was being done close to school five. Um, the administrative team, the teachers, the students safely evacuated the building on, um, March 20th and then they were advised not to return to the building the following day. So, we had to make a quick decision, um, and the decision was to close school for school five, uh, students and staff the following day.
And it doesn't say school device. I think it leaves it open and so I think you just I think that's fine. The way it's wrote. Yeah, cuz we've had we've had times where the our preference is always a school device or school phone or something like that. But there have been an occasion or two where we've reached out to a parent or guardian regarding a specific kid. They don't answer and then we ask the kid to call on their cell phone and they answer. So. >> I've had that happen too, but I think this leaves it open to that. It doesn't say That's why I think we should leave it as is. And the next one that that was me that put it in. It's the same thing about before and after school and designated areas as such as the cafeteria. I feel like that's like rule for high school policy.
And like my my main public comment that I wanted to say is the biggest challenges facing the town of Pelum are not inside Pelum Elementary. They come from outside forces that the report barely acknowledges. the statutory metrics used to calculate the regional assessment which dramatically inflate Pelum's required contribution and the limits of Proposition two and a half which cap the town's levy tax and restrict how revenue Pelum can raise each year. Together those two forces squeeze the town's appropriations to all services including Pelum Elementary. And if we don't address these structural issues, it we risk blaming the school for problems that originate in state formulas and state law. And that's the main thing that I wanted to say. >> Okay. Julio, I I just want to say some of some of your comments that issues about school choice and other things I think are not directly applicable to the fiscical year 27 budget discussion, but they are issues.
From a library on its seventh year of state waivers to a fully accredited branch. From four firefighters per shift to six, able to handle two calls at once. We've built a new elementary school and a new public safety building, and we've documented over 16.3 million in budget savings across health insurance, bond financing, and energy contracts. We did all of this without a single operating override. Here's And that's what we're asking for, one operating override, the first one in over the first one we've asked for in over 12 years. And it's not because we failed, it's because we succeeded. And the cost of maintaining what it is that we built, I see everybody's heads nodding here, in a world of rising health insurance and rising pension, and rising regional costs, now exceeds what that prop two and a half increase can cover. This is something that we all built together, folks.
Meaning that for every share you had of Apple, you would have gotten a $1.3 over the course of the year. Now, to show you the average return of the market, here's a graph of the S&P 500, which is essentially a compilation of the 500 largest publicly traded companies in America, which means companies that you can buy stocks of. And over the course of its history, it has averaged a return of about 10% per year, which is great. And it gets even better when you look at the fact that it returns about 6% above inflation per year. Meaning that if you have your money invested in the S&P or the market, not only is it being protected from inflation, but it's actually gaining spending power over time. Now, one common question or a few common questions that people often ask is, why should I start now?
Over the weekend, I worked with the construction company to ensure that we were safe to return. Um, we received the paperwork that we needed to ensure safe return for our staff and students. Um, unfortunately, because of not opening on that day, school number five students would finish the year with 179 days of school. So, by law, we need to have 180 days for all students across the district. So, working closely with Mrs. Calabrese, the Board of Education, Mrs. Martinotti and other administrators and teachers within the district, we decided that school will remain open on Friday, April 3rd for school five only. So, the morning will run as a normal school day and by 12:30 all students and staff will be dismissed. I met with the teachers on Tuesday and I was so impressed with their professionalism, the questions that they had, the understanding that they had and we believe that we are going to have a good amount of them in school on that day because it was a previously scheduled first day of spring break.
Um not for like elementary schools. So, if we were to add something like we had in the that Jay recommended in the prior section. And maybe we take that part out. I think since we I think because we took it out before we would just end up taking it out here cuz I think I I have a feeling that that first bullet is especially because you were like, "Fine, you can use it for after school." But then this gave us like an a way to say like those two areas. Like we could designate. So, like we can't use it inside building A, but you can use it in our courtyard. Um So, I think we probably could just take it out since it's already been kind of taken out from the other side. Cuz we never have problems on the playground or in the cafeteria.
I mean, I I hear what you're saying and I think >> the report was the report was showing it as if it it's an incomplete presentation for what they were presenting. It makes it seem as if it's a strain. >> All right, I hear you. Um, all right, Diana Epstein. >> Hi, Diana. Megan, >> can >> Yes, I can unmute her now. >> Thank you. >> You should be able to speak. >> I don't know. >> Thank you, Megan. Um, thanks for explaining that line item for the registar. That was what most of my questions were around. Can you explain a little more about how the registration for Pelum is being separated out and and when? Right now it looks like the online form for registration and school choice is just a singular form with a single contact person. I didn't walk through the entire form, but it looks like there's only one contact listed.
And this is something that we're obligate Not obligated, but we should have a commitment to protect as well. So, I hope this has been helpful. Now I can transition, Brandy. How's that? Thank you, Michael. Mhm. Do you want to um unshare? Oh, there we go. Okay. All right. >> [snorts] >> So, good evening, everyone. And I'll just start by saying and recognizing the elephant in the room, which is the Ashland public schools, right? We're the we're the ones here before you talking about a $2.75 million override and what that can do for the community. And before I get into the slides, and I I won't belabor the the data that's in here, uh but I want to say the approach that that we have taken as a school committee, that I've taken as a superintendent, is really to look at our financial situation holistically and say, "How can we best fix a structural deficit that is going to exist year after year after year, and has done so since I've been superintendent for 13 years?" And what I'm trying to accomplish and what we're trying to accomplish is to fix this problem moving forward.
Why don't I wait until I get a job? Why don't I wait until I get out of college? Why don't I wait until I'm adult? And the main reason for this is because of something called compound interest, which can be defined as interest which is earned on both the initial money that you put in as well as previous interest that you've already learned that you've already earned. And this is so powerful that somebody who I consider to be pretty smart, Albert Einstein, has actually referred to it as the eighth wonder of the world. Now, to show you how this works, here's a chart and a graph. Now, as you can see on the chart, you're gaining 10% interest every year. Now, off of $1, 10% is only 10 cents. However, the next year, you're still gaining that 10%, but now you're gaining it off of $110.
We will have parameters in place in case we do have a higher number than expected staff not report for that particular day. So, I'm looking forward to heading over there seeing all the kids in the classes and teachers in the building. So, big thank you to the student staff administration and also the parents on that particular Thursday and Friday as well as for the upcoming Friday April 3rd date. Messaging will be sent out to school five parents in the morning informing them of this addition to the school If you look at number 27, we will have policies approved this evening. These were policies that were read through at the last Board of Education meeting and we will look to finalize those this evening. If you turn to page 14, this was something that Mr. Alfano spoke about earlier, the expansion of our pre-K program. With the expansion of the pre-K program, the district has qualified for a grant through the through the state and what we are looking to do is expand as much as we can moving forward.
I know. I was like, "Really? That's there you're going to give them access?" Nope. So, just cross it and strike through it. Is that Are you guys good with that? Yeah. That reminds me of like a smoking section. Um so, I'm just going to throw this out there, James, because I participated in a student side council committee at my own at my own child's school earlier today. Please also know I'm going on limited caffeine and limited sleep, too. So, um if I'm not clear, just tell me. Um is that uh they were presenting their project and they were asking for funds for something and they're like and they asked how long this group had been around. They're like, "I don't know. We saw a banner that said something in the 1900s. So, it's been around a long time." And I was like So, that just made me think smoking and non-smoking.
>> Diana, um, you're asking about this year's registration. We're really talking about the next year's budget. So, um, these are questions that I think are going to be part of the agenda on April 4th. >> Okay. So, for this year, there is one registration process and one school choice process for both Ammerst and Pelum. >> I'm not in a position to answer that tonight. So, please come to the meeting on April 7th because those things are going to be on the agenda for April 7th. That's one of that's a regular school committee meeting. >> Okay. Okay. Well, then the note I'll make about about that 6,000 for the next year is that I hope that the plans for consistent communication, improved enrollment process, and strengthening outreach, as noted in the report, are clearly communicated to the community because right now, I think there's a lot of confusion around who owns school choice promotion and what who is responsible for what.
So, instead of using one-time funds to pay for operating costs, which I'll get into in a little bit, making sure we have funds that are available for one-time expenses, that we have those funds. How do we do that? We have to fix the problem we have, and that problem is definitely a revenue problem. It's a revenue problem from the state. It's a revenue problem locally. And yes, I agree with Michael, it's very difficult to ask for for more money right now. I get that. What I'm trying to tell you is that I'm not adding positions. We're looking at this as a restructure an opportunity to ensure that in 5 years down the road, we're not having this conversation again. That's the challenge that that many communities are facing. When you see other communities have overrides every other year, they're not looking, in my opinion, and maybe they are, but they're not necessarily looking to fix the systemic problem that exists.
So, that's going to be 11 cents. And over time, this grows more and more and more per year. And as you can see on the graph on the left, this is exponential growth. So, the more time you have your money in the market, the more time you give it to reap the rewards of compound interest. Now, just to show you something that could happen in your own life, let's say you started investing at the age of 15 and you wanted to retire at age 65. Now, this gives you 50 years of growth. And let's say you got 9% returns every year and you only just put in $5 a week or $20 a month. Now, you would have contributed $12,000 to this account by the time you're 65. And this amount would be worth a little bit over $200,000 by the time that you turn 65.
We want to try to have every three and four-year-old in district have the opportunity to begin their education in our schools. Unfortunately, because of space and other constraints we're not able to open it up to everyone, but we are looking every year to expand upon that program and the plan for next year is that we will see pre-K in all of our elementary school buildings. In the past, it was primarily housed just in school five, but our plan is to open up buildings in schools three, four as well as school five. So, as we grow, we're looking to open in all of the different buildings that we have. And there is one I want to jump back to personnel on page page six. So, this is a resolution that under most circumstances we would hold in a closed session. So, what is that's about to happen generally happens in a work session behind closed doors that we discuss as a board.