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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…)

Feds release maintenance of equity guidance for ESSER III funds

Feds release maintenance of equity guidance for ESSER III funds

The term “maintenance of effort” has been in the news lately amid concerns that the level of K-12 public school funding approved by the Legislature’s budget writing committee is not sufficient to allow our state to secure approx. $2.3 billion in one-time federal emergency COVID relief funding for K-12 education. 

Another term school leaders are likely to be hearing about is “maintenance of equity.” (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.

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

WSJ: Republicans shouldn’t risk $1.5B for Wisconsin schools

An editorial from the Wisconsin State Journal

“Wisconsin ranks near the bottom of states — 45th out of 50 — in harnessing money from Uncle Sam, according to The Pew Charitable Trusts.

“So why is the Republican-run Legislature — again — risking if not snubbing federal dollars from Washington that taxpayers here deserve, given all the money Wisconsin citizens pay the IRS?

(more…)

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

If WI fails to qualify, federal K-12 COVID relief funds will go to schools in other states

Wisconsin schools could lose out on at least $1.5 billion (and possibly as much as $2.4 billion) in one-time COVID relief funds if state lawmakers do not revisit the state K-12 education budget and increase state funding.

What would happen to those federal relief funds if Wisconsin fails to qualify? The funding would revert to the federal government and be reallocated to other states that DO qualify to receive the funds. (more…)