Schools
Full Steam Ahead for Collingswood Elementary School Boiler Projects
The district has received grant funding that will cover $360,000 of the estimated $900,000 project, the remainder of which will be paid for from its capital budget.
The five elementary schools in Collingswood should be receiving new, high-efficiency boilers this summer, thanks in part to a $360,000 state grant award for which the district was recently approved.
The remaining $540,000 of the tab will be covered by district capital reserve dollars, said Collingswood school district business administrator Beth Ann Coleman.
In total, the state grant will pick up $72,000 of the tab for work at each elementary school, with the remaining $108,000 paid for by the district.
The project is expected to save some $27,000 annually in heating costs, according to Coleman, who said the projects will go out for bid as soon as possible.
"[We're] trying to get it done this summer," Coleman said.
The school district has developed a reputation for financial stability, with recent audits lauding its strong balance sheet and solid management.
In January, Collingswood finalized a refinancing of its outstanding debt for an expected $1.1 million savings.
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