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finance

Status of the American Recovery and Reinvestment Act (ARRA) Funding as of March 31, 2010

Source: U.S. Department of Education

It has been another tough spring for school districts across the nation. The economic crisis of the past two years is hitting school systems hard as districts plan for the 2010-2011 school year. State support to schools continues to decline, and the "soft landing" afforded by federal stimulus monies is a thing of the past. School districts must cut costs but find their options constrained by restrictive labor agreements in addition to the collective bargaining process itself. If ever there was a time for a new approach to bargaining, it is now.

Walt Rulffes had an unlikely ascent in Nevada’s Clark County School District (CCSD). Having served neither as teacher nor principal before his hiring as deputy superintendent of finance and business, his seven years of dogged lobbying for dollars from the legislature nevertheless paid off when he was hired as superintendent of the fifth-largest school system in the country.

For those districts seeking to construct, renovate, rehabilitate or acquire land, the National Education Technology Funding Corporation, or "Eddie Tech," has made an innovative program to simplify the process of accessing low-cost financing. Eddie Tech's School Investment Pooled-Securities (SIPS) Program is bringing together tax-credit Qualified School Construction Bonds (QSCBs) and creating larger and more marketable collections that are more desirable for investors.

President Obama's FY 2011 budget proposal, released Feb. 1, includes a $400 billion investment in education—but it lacks any funding specifically dedicated to school libraries. Funding for individual programs, such as the Improving Literacy Through School Libraries grant and the Enhancing Education Through Technology (EETT ) program, has been consolidated, effectively eliminating the programs and denying many districts the funds they need.

 







 

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