How can the State reimburse Mt. Lebanon when we're behind in filing the proper documents for the PlanCon process? Part H (PDF), Project Financing addresses the financing used for a project. Calculation of the temporary reimbursable percent for a project's financing occurs at PlanCon Part H. Once PlanCon Part H is approved, reimbursement on a project commences. Have we done this?
The High School Renovation Process (saved in Google Docs) illustrates how behind the board is in the process. It shows that PlanCon Part F was the last submission approved. However, the February 20, 2012 agenda indicates "That the Board approves submission of PlanCon Part H to the Pennsylvania Department of Education in substantially the form presented." This is the last item I can find pertaining to PlanCon Part H. Was it ever approved by the PDE? Did the board approve it after that - approve the approval?
But look what is going to be resolved on Monday, according to the March 17, 2014 agenda?
(4) PlanCon Part H Submission: RESOLVED, That the Board approves PlanCon Part H for submission to the State in substantially the form presented.I will be the first to admit that I didn't watch or listen to the entire school board meeting last week. There is just so much time in a day. Would someone please explain to me why we submitted PlanCon Part H two years ago and the Board is approving PlanCon Part H again? It could explain why we never received any reimbursement. But what do I know?
6 comments:
Ask our state reps. if they're looking out for precision in the PlanCon process and therefore constituents welfare or a continuation of the public education status quo and its ever growing money train.
They are voting to approve PlanCon H seven months after the bids were accepted for the second bond issue.
Hey Tim! Who was asleep at their job?
How big will their merit bonus be this year Tim?
Of course, it's all Corbett's fault!
http://www.post-gazette.com/opinion/2014/03/16/Pension-pitfall/stories/201403140012
"Pension pitfall: The Senate Dems’ plan fails to curb future costs
March 16, 2014 12:00 AM
Pittsburgh Post-Gazette"
"The plan would refinance some of the obligations to the pension funds of state and school district employees, but it won’t change the underlying elements that make the system unsustainable."
"
That may sound like a no-brainer, but financial experts throw a caution flag on the use of pension obligation bonds. A 2010 study by Boston College found that well-off governments can best afford to gamble on the bonds, but they far more often are utilized by financially stressed entities that can least afford the risk. Pennsylvania more closely fits the latter description."
Gotta love those democrats! Blame the Republican Governor while proposing to live on an expensive credit card.
It never occurs to them to live within their means and cut expenses.
Using bonds to fund a pension plan is the same as buying stocks on margin (credit). It usually ends badly.
By the way, the margin debt in the stock market is 20% higher than it was before the Great Recession. The end result is likely to resemble Detroit.
Each bond issue goes through the PlanCon process. We filed a PlanCon Part H for the first bond issue now we are submitting a PlanCon Part H for the second bond issue that was sold last August 19th, seven months ago. Hope that helps 10:44.
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