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Economic Recovery and Reinvestment

Economic Recovery and Reinvestment. American Recovery and Reinvestment Act of 2009 (ARRA). ARRA – SFSF (State Fiscal Stabilization Fund) Reporting.

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Economic Recovery and Reinvestment

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  1. Economic Recovery and Reinvestment American Recovery and Reinvestment Act of 2009 (ARRA)

  2. ARRA – SFSF (State Fiscal Stabilization Fund) Reporting • The American Recovery and Reinvestment Act of 2009 (ARRA), Public Law 111-5, provided a number of funding opportunities to public schools and libraries. Some use a distribution formula, while others take the form of competitive grants.

  3. ARRA Reporting 2009-10 • In 08-09 districts received State Fiscal Stabilization Funds (SFSF) as a replacement for some state equalization aid; • Districts were asked to code the expenditures to Source 718 • We are currently being audited by the DOE Office of the Inspector General for use of funds in 2008-09.

  4. ARRA Reporting 2009-10 • In 2009-10 the same will occur – part of a district’s state equalization aid will be from the federal Stabilization Fund; • It will again be coded to source 718 • Districts can find the amount they will be receiving on the SFS website under Equalization Aid; • Project Code 810 has been established to track expenditures associated with education stabilization funds;

  5. ARRA Reporting 2009-10 • Expenditures must be incurred between July 1, 2009 and May 15, 2010 • School districts have considerable flexibility in how to use the funds. • May be used for activities allowed under Impact Aid, whether or not the district receives Impact Aid • Most funds under Impact Aid are considered to be general aid

  6. ARRA Reporting 2009-10 • The reporting of SFSF will be similar to the way other federal funds are handled • An application form PI-1595-APP • General Information • Certification/Signatures • Assurances • Instructions • Detailed account information

  7. ARRA Reporting 2009-10 • School districts may NOT use the funds for the following: • Payment of maintenance costs • Stadiums or other facilities primarily used for athletic contests or exhibitions or other events for which admission is charged to the general public • Purchase of upgrade of vehicles • Improvement of stand-alone facilities whose purpose is not the education of children, including central office administration or operations or logistical support facilities • School modernization, renovation, or repair this is inconsistent with State law • Provide financial assistance to students to attend private elementary or secondary schools, unless for special education and related services as authorized by the IDEA

  8. ARRA Reporting 2009-10 • The reporting of SFSF will be similar to the way other federal funds are handled • A claim form PI-1595-CLM • General Information • Certification/Signatures • Instructions

  9. ARRA Reporting 2009-10

  10. ARRA Reporting 2009-10 • Just so you’re aware: • The DPI has not officially received the ARRA Stabilization authorization; • Application was made January 11 and we expected to receive approval in 6-8 weeks; • Requirements for 09-10 accounting and auditing may change depending on federal guidelines.

  11. ARRA • The latest DPI information on the Recovery and Reinvestment Act can be found at: http://www.dpi.state.wi.us/recovery/index.html

  12. CONTACTS • Jerry Landmark • Acting Director School Financial Services • jerome.landmark@dpi.wi.gov • 608-267-9209 • Kathy Guralski • School Financial Services Auditor • kathryn.guralski@dpi.wi.gov • 608-266-3862

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