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Fiscal Stabilization (K-20) - Education funding

Section: Division A, Title XIV | Agency: Dept. of Education and Board of Governors

One-time appropriation by formula in exchange for a commitment to advance essential education reforms to benefit students from early learning through post-secondary education.

Brief description of program or funding including funding distribution method (formula or competitive grant):   

One-time appropriations from the US Department of Education to the Governor by formula in exchange for a commitment to advance essential education reforms to benefit students from early learning though post-secondary education.  The remaining $5 billion will be awarded competitively under the “Race to the Top” and “Investing in What Works and Innovation” programs

When funds are expected to be available:   The formula-driven State Fiscal Stabilization Funds (SFSF) will be available in two phases:

·         67 percent of the allocation will be disbursed within two weeks of an approved application

·         Remaining 33% expected to be awarded on a rolling basis beginning July 1, 2009 to September 30, 2009; after the approval of the state’s plan detailing its strategies for addressing the education reform objectives described in the assurances.  . 

How long are funds available:  Funds are available for obligation at the state and local levels until September 30, 2011.

Conditions or prerequisites for accessing funds (include matching or MOE requirements):

1. Application required from each state
2. State must assure the following:
   1. Achieving Equity in Teacher Distribution
   2. Establishing a longitudinal data system
   3. Improving the quality of standards and assessments

    See related download file for details.