MSBA Announces Final Audit of 15 School Projects Totaling over $36.5M

State Treasurer Steven Grossman, Chairman of the Massachusetts School Building Authority (“MSBA”), and Jack McCarthy, MSBA Executive Director, announced that the MSBA Board of Directors has approved final audits for 15 projects totaling over $36.5 million in grants from the MSBA. The final audit stage is the last step in the MSBA building process and represents the successful completion and closeout of the projects.

“Every project undertaken by the MSBA is a step toward creating the 21st century learning infrastructure that every Massachusetts student deserves,” Treasurer Grossman said. “We are delighted to have brought these important investments in Massachusetts schools to a successful conclusion.”

The Board approved final audits of ten Green Repair Program projects, one Major Addition and Renovation project, one project for the construction of a new school, and three Accelerated Repair Program projects. The combined grant value of all audited projects was $36,552,946.  

“Approval of final audits brings these vitally-needed projects to a successful conclusion, which benefits students all across the Commonwealth,” Executive Director McCarthy said.

The MSBA partners with Massachusetts communities to support the design and construction of educationally-appropriate, flexible, sustainable and cost-effective public school facilities. Since its inception, the Authority has made $10.5 billion in reimbursements for school construction projects. These timely payments have saved municipalities over $2.9 billion in avoided local interest costs and have provided much needed cash flow to communities.