Summary of Town of Lexington Financial Summit I (October 8, 2014)

Lexington is in good fiscal condition. Debt service amount was closely examined. Financing plan for increasing school population and school facilities is at forefront. CAPITAL will be the town’s focus for the coming years. (LPS spends about 72% of town’s revenue.)

LPS enrollment increased 14% from 2000 to 2014 (5807 to 6643), projected 600 more students in the next years. 8 out of 9 schools are at or over capacity. Expect increase in both operating and capital spending.

For space needed before 9/ 2015: decision must be made by 1/2015. Intermediate plans for the next five years: pending, no news re Hastings new building.
Dr. Ash does not recommend increase class size to solve the problem.

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