From The Boston Globe: The Massachusetts agency that helps communities pay for school repairs and construction says that plummeting sales tax revenues may dampen the ability to fund future building, warning districts to scale back their expectations. A penny of every 5 cents of the sales tax is funneled to the Massachusetts School Building Authority. The agency has $2.5 billion available to spend on projects.
MARCH 2009...from The Boston Globe: With sales tax revenue on a steady decline, the Massachusetts School Building Authority is projecting its portion of state funds will fall short by at least $100 million this fiscal year. Katherine Craven, the authority's executive director, says that if the state isn't able to make up the shortfall, 200 or more projects now in the earliest planning stages could be in jeopardy, and the authority might have to cut back on future projects.Those schools that have already been approved for feasibility studies or for design and budgeting would not be affected by a deficit, she says.