Finance and Cost Index
INTEREST RATE REDUCTION ON ASSUMED AMORTIZATIONS FOR BUILDING AID
- Education law requires the commissioner to revise the assumed amortization schedule for remaining debt service payments for outstanding principal and interest at the end of each 10 year segment of an assumed amortization for Building Aid if the current interest rate is at least one quarter percent (.25) lower than the original interest rate for the assumed amortization. Please see Comprehensive Guidance Including Waiver Application Instructions document for additional information. Requests for a waiver from the interest rate reduction should be submitted to the Office of State Aid. (10/28/14)
LIST OF FINAL COST REPORTS DUE TO SED BY JUNE 30, 2014
- TO ALL SCHOOL ADMINISTRATORS: Please be advised that the State Aid Office has recently compiled the list of Final Cost Reports that are due by June 30, 2014. These are projects that were approved by the Commissioner of Education (Office of Facilities Planning, OFP) prior to July 1, 2011 and are not subject to the new Final Cost Rules associated with Chapter 97. These projects represent the best list based on data available to the department but it may not include all possible projects. It remains the district's responsibility to submit FCR's for all projects in a timely manner whether they are on the list or not. If Districts are unable to file the final cost report by June 30 for reasons beyond their control, they may ask for an extension from the Office of Facilities Planning. Appropriate reasons for extensions will be liens, litigation, punchlist work not completed, warranty issues, or any other reason why the final payment cannot be processed. OFP will review those requests and issue extensions where appropriate. List of district & BOCES capital construction projects with Final Cost Reports due 6/30/2014 that had not been received at SED as of approximately 4/9/2014
Facilities Planning provides an up-to-date database of indexes used for the calculation of the maximum cost allowance on construction projects. These data are found on our construction project cost index page. We also maintain a database of regional cost factors which are used in the maximum cost allowance calculations for districts in different counties.
Reorganization - as specified in The Master Plan for School District Reorganization, many districts are subject to reorganization and must submit an Application for Apportionment of Building Aid . The application must be submitted for districts in reorganization classes 1 through 3. To determine which class a district is in, please consult this list.
The Final Building Project Report MUST be filed for these projects by June 30, 2011. If you have not filed a report for any projects that were substantially completed in 2009 or before, they are already late unless you have received an extension of the filing date from this office.
- Final Building Project Report (921KB) (08/01/14)
- Final Building Project Reports should be sent to the following address:
- Note: All questions regarding the content and completion of the final building project report should continue to be addressed to the Office of Facilities Planning.
The State Education Department
State Aid Office
Attention: Building Aid Unit
Room 507 West Hall, Education Building
89 Washington Avenue
Albany, NY 12234
Extensions can only be granted for specific circumstances such as litigation, liens, labor department wage rate violations, etc. Extensions cannot be granted due to simple oversight or new staff.
Please note that this list is our best effort based on the information we have in our records and processed to date. It is possible for your final building project report to be due even if it is not on this list!!
Finally, Please remember that the substantial completion date is the date by which the professional architect or engineer determines that the project is code compliant and can be used for it's intended purpose. The substantial completion date is the date contained within the body of the form, IT IS NOT THE DATE THE FORM IS SIGNED AND SENT TO THE DEPARTMENT.
Please check with your project manager if you have any questions regarding a project.
Bonds (QZAB), which can provide for alternate financing of projects.
We provide a comprehensive set of documents in these pages which should help districts, their financial planners and designers determine how to develop projects, complete them and close them out.
New York State Property Tax Cap (03/20/12)
NEW MAXIMUM COST ALLOWANCE FOR STATE AID ON THE PURCHASE AND INSTALLATION OF SECURITY CAMERAS BEGINNING WITH 2012-13 AID FOR EXPENSES INCURRED JULY 1, 2011 AND AFTER (05/17/11)
NOTICE OF CHANGE IN CLAIM PROCESS FOR STATE AID ON THE PURCHASE AND INSTALLATION OF STATIONARY METAL DETECTORS, SECURITY CAMERAS AND SAFETY DEVICES FOR ELECTRONIC PARTITIONS BEGINNING WITH 2009-10 AID (07/06/09 )
Please find your EXCEL allocations here. (06/26/09)