The US Dept of Ed approved the Governor's plan for the State Stablization Funds. This clears the way for final budget negotiations in Jackson. From everything I've read and heard, approximately $52M of the $71M cut earlier this year from FY09 budgets will be restored. Then, approximately $95M will be used for FY10 budget. (Some $19M will be used for IHL in both FY09 and FY10.) This leaves approximately $204M of the $391M total State Stablization Fund's allocation for education for future uses.
The expectation is that MAEP funds will remain "flat" for FY10; however, some of the other line items such as transportation and EEF will likely be reduced. All the conversation in Jackson about the overall state budget is very gloomy.
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