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Economic Stimulus Package Update - Department of Education

Over the weekend, the Department of Education released its initial guidance concerning the funds distributed through the American Recovery and Reinvestment Act (AARA). This includes the State Fiscal Stabilization Fund (SFSF).

Press Release from ED:
http://www.ed.gov/news/pressreleases/2009/03/03072009.html

State Stabilization Fund:
http://www.ed.gov/policy/gen/leg/recovery/factsheet/stabilization-fund.html

Guidance:
http://www.ed.gov/policy/gen/leg/recovery/implementation.html

As we understand from the guidance, states will be given much of the responsibility in how the funds are used (however, they are required to provide certain data and reports on the allocation and use of funds to make sure they are in line with the Federal Government’s pledge of accountability and transparency).

As you will see from the website, about 67 percent of the SFSF will be available to the governors two weeks after the applications for the states are approved. We expect that to be around the end of March. The rest of the funds will be made available between July 1 and September 30, 2009.

Governors are required to provide the following for the initial round of funds: a statement that they are working to meet the assurance requirements, baseline data on their current status in the assurance areas and basic information on how the funds will be used.

You will also find information on this website about Pell Grants, IDEA Funds, Work Study and various other programs funded through ARRA.

Education Team Contact:
James A. Keith
(601) 292-0718
jim.keith@arlaw.com

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