School District Makes Deal on Paying Penalty
FRESNO
A deal school district officials made with the state will allow it to pay only a fraction of the multimillion-dollar penalty it faces for not following reporting rules on construction contracts.
Fresno Unified School District officials worked out the details with the State Allocation Board. Instead of $34.7 million, the initial amount state auditors recommended the district pay back, Fresno Unified will pay $3 million in interest on 24 projects completed in the last five years.
Board members will officially vote on the deal at next month’s meeting.
Fresno Unified can then repay the money in as many as five annual installments, beginning in July 2005.
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