School district tapping into federal education fund
Published 6:00 pm Wednesday, March 23, 2011
The Lincoln County School District is tapping into a specialfederal fund that could help it better weather any budget stormsduring the next school year.
School District Business Manager Cheryl Shelby told districttrustees at Tuesday’s meeting that approximately $656,000 from afederal education fund will be sought and should appear on thedistrict’s financial report for March.
“It was a special fund to help fund salaries,” Shelby said.
Superintendent Terry Brister said all school districts are eligiblefor funding, in varying amounts. Shelby said the funding isavailable only as a reimbursement.
“You can’t draw it down in advance,” she said. “You have to spendthe money before you can request it.”
Shelby said a number of school districts were requesting the fundson a monthly basis. However, she said the Lincoln County districtdelayed its request until the district had accrued enougheducational expenditures to qualify.
“We’re going to draw it down, but we have no plans to spend it(right away),” Shelby said.
The reason, she said, is that districts are being encouraged tohold onto the funds for use next year pending educational fundingaction on the state level. State lawmakers have not finalized abudget plan for the new fiscal year that starts in July.
Shelby said these federal funds will not be available again.
“There is no more money next year,” she said. “This is one-timemoney.”