Are the State Fiscal Stabilization funds used for the Deficit Reduction Assessment Restoration subject to ARRA restrictions?
Yes, the ARRA State Fiscal Stabilization funds that were used to restore proposed cuts in 2009-10 school aid to 2008-09 levels are subject to all ARRA accounting, reporting, record keeping and accountability requirements. The federal government will require extensive reporting on the use of stabilization funds even though the funds are being used to offset the foundation aid deficit reduction assessment. State Fiscal Stabilization funds may be used for any activity allowed under the ESEA, IDEA, the Adult and Family Literacy Act, the Carl D. Perkins Career and Technical Education Act of 2006, and the modernization, renovation and repair of school facilities.
Related Questions
- Does the 2009-10 enacted Supplemental Deficit Reduction Assessment Restoration actually replace other State Aid?
- How will districts receive State Fiscal Stabilization (SFS) funding and how can those funds be used?
- Are there prohibitions against certain uses of State Fiscal Stabilization Funds for Education?
