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LFB: $2.3 Billion in federal relief funding at risk

LFB: $2.3 Billion in federal relief funding at risk

The legislature’s budget committee’s state funding plan for K-12 education puts $2.3 billion in federal COVID relief funding for schools at risk according to a memo by the nonpartisan Legislative Fiscal Bureau.

The memo states that Wisconsin is expected to meet the requirements in the first round of federal relief funding (CARES Act/ESSER I/GEERS I) but also confirms that further investment will be necessary to meet the requirements to capture approx. $2.3 billion in relief funding included in the second and third relief packages (ESSER II & ESSER III, respectively). (more…)

LFB: State now expects $4.4 BILLION more in tax revenue than previous estimates

LFB: State now expects $4.4 BILLION more in tax revenue than previous estimates

The nonpartisan Legislative Fiscal Bureau (LFB) has just released updated revenue estimates that show, due to “unprecedented” collections in April and May, that it now expects $4.4 billion more revenue coming to the state than previous estimates done in January. From the LFB Memo:

“The increase in general fund tax collections in 2021, particularly in the months of April and May, is unprecedented. Based upon the strength of collections and the vastly improved economic forecasts for the remainder of this year and the next two years, our analysis indicates that for the three-year period, aggregate general fund tax collections will be $4,427.4 million above those of the previous estimates.”

This could be a game-changer and certainly a legitimate reason for the Joint Finance Committee to revisit their K-12 spending plan. Stay tuned.

John Ashley statement on JFC K-12 budget proposal

John Ashley statement on JFC K-12 budget proposal

Budget Committee’s K-12 Proposal May Jeopardize Federal Funding
 
Wisconsin Association of School Boards Executive Director John Ashley issued the following statement in reaction to the state education budget proposal passed today by the Legislature’s Joint Finance Committee:

Without question, the pandemic has placed stress on our schools, our communities and our students. When schools closed abruptly in March 2020, we knew the disruption in learning would be significant.

(more…)

LFB: State now expects $4.4 BILLION more in tax revenue than previous estimates

JFC approves education funding plan

The state legislature’s Joint Finance Committee (JFC), controlled by the GOP legislative majorities in both houses, approved its version of the state education budget today (5/27). The committee leaned heavily on the large influx of one-time federal dollars to greatly reduce increases to state funding for public schools in Wisconsin.

The K-12 funding plan adopted by the JFC today proposes to spend only about $128 million more on K-12 education over the next two years.  This amount is roughly one-quarter of the investment the Legislature made in schools in the last state budget and is less than one-tenth of the amount that Gov. Evers had proposed. (more…)