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Teach Nevada Scholarship (TNVS)

Learn about the successes of the Teach Nevada Scholarship program, including the reconciliation process and highlights of the funded scholarships. Discover the available and obligated funds, as well as the requests for the upcoming cohort. Collaboration with TNVS partners and efficient fund management are key components of this program.

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Teach Nevada Scholarship (TNVS)

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  1. Teach Nevada Scholarship (TNVS) Successes Reconciliation Highlights Available Funds Obligated Funds Cohort 20 Scholarship Requests

  2. Successes • Collaboration with TNVS partners and fiscal office to complete reconciliation FY16-19 • Developed new tracking system per scholarship recipient • 627scholarships have been assigned to recipients • 43 identified as veterans/spouses of veterans • 275 identified as economically disadvantaged • 250 identified as a minority • 156 are studying special education • 287 are studying elementary education • 262 completed their provider program

  3. Reconciliation Highlights • Recovered Funds • Unexpended 75% Tuition $545,879 • Unencumbered 25% Holdback $190,500 • Non-completer Fees $ 22,000* • Funds Owed to Providers • 75% Tuition $ 59,529 • Completer Fees $236,000 *$40,000 is outstanding

  4. Available Funds • Operating Categories $ 2,513,892 • Reserve Category $ 4,852,491 • Prior Years Refund Category $ 2,642,000* • Total $10,008,383 • FY20-21 Biennium Funding $ 4,800,000** *$40,000 is outstanding **Pending final budget closing and funding for biennium

  5. Obligated Funds • Funds owed to Providers FY16-18 • 75% Tuition $ 59,529 • Completer Fees $ 236,000 • Encumbered Funds FY16-19 • 75% Tuition $3,692,452 • 25% Holdback $2,158,583 • Completer Fees $ 261,000 • Total $6,407,564

  6. FY20 Requests200 Scholarships • 75% Tuition $2,624,500 • 25% Holdback $ 875,000 • Completer Fees $ 200,000 • Total $3,699,500

  7. Cohort 20 table Cohort 20 Table

  8. Balance • Available Funds $10,008,383* • FY20-21 Biennium Funding $ 4,800,000** • Obligated Funds $ 6,407,564 • Requested Funds $ 3,699,500 • Balance $ 4,701,319 *$40,000 is outstanding *Pending a Work Program to move funds between categories **Pending final budget closing and funding for biennium

  9. Motion • State Board approve not more than 200 Teach Nevada Scholarships per the Cohort 20 table • Pending IFC Work Program approval moving funds between categories and • Pending final budget closing and funding for the biennium

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