State Investigation Ongoing for School District's Solar Panel Project

State Investigation Ongoing for School District's Solar Panel Project The New Jersey Office of the State Comptroller is still investigating the Lacey Township School District's solar panel project, spokesperson Pete McAleer said. "We provided them with everything that they asked for and even more," Board of Education President Jack Martenak previously said. The Lacey Township School District has been served a subpoena in regards to the solar panel project by the New Jersey Office of the State Comptroller. "Our policy is we don't comment on pending investigations," spokesperson Pete McAleer said. According to the state's website, the Office of the State Comptroller audits government finances, examines efficiency of government programs, scrutinizes government contracts and investigates and uncovers government misconduct, waste and abuse. The subpoena, served on the district Friday, Sept. The documents requested by the state include files that have been in question by various community members over the past year, Starodub said. The principal cannot be paid down until 10 years as well, Martenak said. Additional information will be made available to the public once the investigation is carried out. The subpoena is administrative in nature and does not focus on anything in particular but looks at the project in its entirety, Starodub said. The school district bonded for further than $19 million due to a quotation determined by architects Di Cara and Rubino. This bond can't be paid back early and has limits according to certain years, Martenak said. The district credits the project in saving approximately 35 percent in electricity costs and generating $1. The school district returned $2,230,000 during the 2010-11 school year and will return $3,280,000 for the 2011-12 school year. The district is expected to generate $3. The school district is paying 3 percent interest on the bond, and the debt service aid pays forty percent of the bill every year, Martenak previously said. Generally, an investigation takes six to nine months, he said. The bid, which was accepted nearly a year after bonding, was around $12 million so that left the school district with more than $7 million remaining. They are projected to generate $1 million every year for three years. State Investigation Ongoing for School District's Solar Panel Project Trade News selected by Local Linkup on 14/06/2012