MSBA OFFERS CLARIFICATION TO BOSTON GLOBE ARTICLE "SCHOOL BUILDING AUTHORITY FORESEES FUNDING SHORTFALL"
• The MSBA is working with the 106 communities that are currently in our capital pipeline to develop an eligible project scope, schedule and cost that the MSBA will reimburse. If your town or district is on the attached Project Status Report, it means that the MSBA has set aside resources for your potential project.
• Many communities have filed multiple projects but the MSBA has been generally funding only one project at a time per community, which means that hundreds of other projects are not yet ready for funding.
• For projects in the MSBA’s Capital Pipeline (see Project Status Report) - the MSBA’s portion of the project funding is in place, the MSBA will live up to its commitment for projects currently in the pipeline and have the cash available to reimburse projects as construction takes place, pursuant to the MSBA’s Project Scope and Budget agreement for that project.
• For projects NOT in the MSBA Capital Pipeline - the MSBA can fund a $2.5 billion, 5 year capital plan. The MSBA still has capacity to fund additional projects and there is money available for the projects that do eventually move into the MSBA’s capital pipeline.
• The MSBA will not fund scope items for a project that are not agreed on between the MSBA and the District.
• It is true that Sales Tax is underperforming in FY2009, however the Commonwealth has guaranteed to provide the MSBA with $702M, regardless of actual sales tax collections.
• The Globe article quotes the Governor’s press secretary, "There is no question that’s what they’re [MSBA] going to get".