The total project budget, as approved by Andover voters, is $151,661,968. Andover is eligible for a maximum grant from the MSBA of $38,442,820 (25.35% of total project costs), which makes the anticipated Town share $113,219,148 (74.65% of total project costs). As the design documents are being prepared, costs are evaluated by two sets of estimators. At the time of the preparation of the 90% package, the estimators determined that the project was over budget by approximately $5.5 million, due to market conditions including supply chain issues, fuel costs and the war in Ukraine. In order to keep the project within budget, the Building Committee made the decision to reduce some construction features, as well as to move available money within budget categories and to use some of the contingency funds built into the budget.
While difficult, this decision allows the project to move forward without an impact on education and with only limited impact on the overall look and feel of the new school. Moreover, the bidding process will be designed in a way that will allow some of the reduced construction features to be restored should future circumstances allow.