Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Competitive school building aid program remains limited by $50M cap; department details ranking, "tail" payments and allowable costs
Summary
A newly implemented competitive school building aid structure and a statutory $50 million annual cap limit new awards; the Department of Education described ranking criteria, the remaining 'tail' bond payments and why allowable costs can reduce award amounts.
Tim Kearney, Bureau Administrator for the Bureau of School Facilities at the New Hampshire Department of Education, briefed the Finance Division II on the school building aid program's current structure, its competitive ranking process and constraints from a statutory $50 million annual cap.
Kearney explained that historically (1946–2012) eligible projects were funded by state shares of principal over the life of a bond; a 2013 law changed the approach to pay a portion of current project costs up front and capped annual appropriations at $50 million. Under the current practice the state typically…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
