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Reimbursements for School Construction Bond Issues
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24 P.S. §25-2574

 

DATE OF ISSUE:        September 1, 1997

 

DATE OF REVIEW:    July 1, 2008

July 1, 2006

July 1, 2004

July 1, 2002

 

 

PURPOSE

 

The purpose of this BEC is to provide information concerning Commonwealth reimbursement on bond issues relating to school construction projects.

 

REIMBURSEMENT

 

The following policy was made effective August 15, 1992, for all PlanCon projects for which Part D (Project Accounting Based on Estimates) has not been approved:

 

When a project receives approval (PlanCon Parts G and H) as a reimbursable project, the Commonwealth will consider all previous payments made on a bond issue to be reimbursable.

 

All interest earnings (after deduction of funds due to be rebated to the U.S. Government) must be shared equitably by both the district and the Commonwealth.

 

REFERENCES:

 

Purdon's Statutes

 

24 P.S. §25-2574

24 P.S. §25-2575

24 P.S. §25-2578

 

State Board of Education Regulations

 

22 Pa. Code §§349.20

22 Pa. Code §§349.21

22 Pa. Code §§349.22

 

Other

 

PlanCon Parts D, G and H

 

 

CONTACT BUREAU/OFFICE:

 

Bureau of Budget and Fiscal Management

Division of School Facilities

Pennsylvania Department of Education

333 Market Street

Harrisburg, PA 17126-0333

Phone: 717.787.5480

 

 

 

Content Last Modified on 5/18/2009 11:09:39 AM