Tuesday, January 17, 2012

The Almanac: Mt. Lebanon mulls rebates on high school work

Mt. Lebanon could get more than $1 million back from the Pennsylvania Department of Education at the end of its high school renovation project, if the project is funded as planned.

At the Jan. 9 discussion meeting, the school board decided it preferred a higher reimbursement rate over time to receiving about $625,000 as a lump sum.

In practical terms, however, both paths would probably lead to the same end result. Director of fiscal services Jan Klein explained that if the district simply invested $625,000 at forecasted rates it would probably generate a return equal to the installment payments within the same timeframe.

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