LIVERMORE FALLS — Changing the cost-sharing formula for Regional School Unit 73 would require approval by a super-majority of directors — at least one from each of the three towns — and a majority of voters, directors were told Thursday night.

The district was formed in 2011 and is required to evaluate its cost-sharing formula in its sixth budget year, Superintendent Healey said.

Bill Stockmeyer, attorney for the school district, addressed directors Thursday at Healey’s invitation because a district subcommittee is discussing possible changes in the formula. Also, Stockmeyer was asked to give his opinion on how the devaluation for the Verso paper mill in Jay will affect the formula.

Sixty-five percent of Jay’s tax revenue comes from the mill.

Jay’s valuation has also been reduced.

The method for sharing costs considered above the state’s Essential Programs and Services formula for each town is determined by a percentage of state valuation.

The district budget is $18.6 million. Of that amount, $2.28 million is considered above the state’s funding formula. According to information provided by RSU 73 Business Manager Michele Coates, the towns’ share of that amount is: Jay, $1.7 million; Livermore, $303,412; and Livermore Falls, $250,067. 

The amount within the state’s Essential Programs and Services formula is funded based on each town’s valuation and student population.

Healey said Jay has 683 students, Livermore has 302, and Livermore Falls has 529.

RSU 73 bases its assessments to towns on property valuation only.

“If the budget stays the same, there would have to be additional local funds,” Stockmeyer said.

Denise Rodzen, chairwoman of the RSU 73 board of directors, said the subcommittee will meet within a few days. 

“No one can solidify on anything right now,” she said. “There are a lot of unknowns.”

She said when the Otis Mill in Livermore Falls closed several years ago, the town received some financial relief from the state.

“It was sudden and severe for Livermore Falls,” she said.

Rodzen said Jay Town Manager Shiloh LaFreniere is pursuing possible state aid because of the 300 layoffs at the Verso late last year.

The next RSU 73 board meeting is Feb. 25.