Feb 13 2012
Matching State Funds for Beach School Construction
And Unexpected Construction Costs –
The Beach School construction project remains on schedule to be completed by August 1, 2012, despite running into costly obstacles, including the need for a new roof. On the brighter side, $8 million in State matching funds have finally been confirmed and will be in hand before the end of February, eliminating the need to borrow these monies and incur finance charges.
The report to the Board of Education noted that “some community [members], parents and staff are now under the impression that the District has ‘extra money'”, but points out this belief is incorrect. The reduction in finance charges will not completely offset newly discovered cost overruns.
