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What portion of the cost is state aidable and how will the receipt of aid be scheduled by the State Education Department?

April 26, 2017aid COST Department Education portion RECEIPT scheduled State

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What portion of the cost is state aidable and how will the receipt of aid be scheduled by the State Education Department?

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The exact amount of the district’s aid entitlement for the land acquisition cost will be calculated by the State Education Department as part of a Maximum Cost Allowance (MCA) and is predicated upon their preliminary approval of building plans and specifications. The formula used to calculate the MCA is based upon a grade-level sensitive Project Cost Index multiplied by the Regional Cost Factor for Dutchess County. The current calculated per pupil allowance is $18,459 based upon June 2004 data. The allowance eventually used will be based upon the indexes in effect at the time that the district signs general construction contracts. Once the MCA has been calculated, the district’s building aid ratio, currently 58.3%, is applied to derive the district’s exact aid entitlement. Based upon current law, receipt of state aid for the project is predicated upon the following series of events: • The actual school building construction (second required referendum) has been approved by the register