Wells-Barkerville School lost revenues

Summary of Lost Revenues - back to Main Brief

Lost per capita grant - home schooling [6 x ($5,308- 250)]	$ 30,349	Based on a parent survey up to 6 students will be home schooled
Lost per capital grant students leaving the school district [6 x $5,308]	$ 31,848	Based on a parent survey, 6 elementary students will relocate out of the school district
Lost per capital grant students leaving the school district [3 x $5,308]	$ 15,924	Based on a parent survey, 3 secondary school students will relocate out of the school district
Lost rental revenue	$ 3,932	Based on confirmed bookings for 2002/03
Lost School Program revenues	$ 1,200	Based on average over last 3 years
Island Mountain Arts Custodial	$ 2,000
Total in confirmed lost revenues	$ 85,253

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This figure does not include other potential lost revenues:

the potential of home schooling parents to register their children outside the school district as some have indicated they will. This could amount to 6 x $250 = $1,500.
The loss of income from families who chose not to relocate into the school district for upcoming job opportunities. (We know of three families this affects immediately.)
Lost revenue in 2003/2004 from at least two students entering the system who will be home schooled.

In addition there will be costs to mothball and maintain the existing building.

Summary of Ongoing Maintenance Costs

Essential Shut down and Maintenance costs	$ 15,000	Shutdown costs, Minimal heating to protect from dampness, snow removal from roofs, essential maintenance, necessary grounds maintenance
Municipal user fees and levies	$ 6,765
Insurance Adjustment for vacant building	????	Not known
Total Essential Maintenance Costs	$ 21,765

The total cost of closing the Wells-Barkerville School would be $107,018. This net cost would be reduced to $7,018 if it was deemed ethical and found legal to shift the Small Community Supplement of $100,000 for the Wells School to general revenue.
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