Yes, they DO get a score report. The school starts a file for you if you haven't already sent in an application, and then if you send in an app, they put it all together.
If you don't get the score you want, retake and submit the new score. Either way, they'll see both scores when you apply and submit a score report, so it doesn't really matter.
is there a way to just send the high score to the school if you have taken the gmat twice