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Education Funding in the American Recovery & Reinvestment Act

Recovery & Reinvestment Report                                          July 7, 2009
Stabilization Funds may be incurred as of Feb. 17

The Department has received formal confirmation that allowable costs for FY 2009 ARRA State Fiscal Stabilization Funds may be incurred as of February 17, 2009.  If this confirmation causes you to rethink your spending plan of FY 2009 Stabilization funds, please amend your FY 2009 application and submit it to jaci.holmes@maine.gov  We have also been informed that any contracts for facility work must conform to the Davis-Bacon Act.  The link below provides more information about the Davis-Bacon Act. http://www.dol.gov/esa/whd/programs/dbra/index.htm 

Quarterly Disbursement and Reporting

The quarterly disbursement of FY 2010 State Fiscal Stabilization Funds will be determined by the following criteria:

  1. Is a completed FY 2010 State Fiscal Stabilization Application on file with MDOE?  If no, State Fiscal Stabilization funds will not be disbursed until the next quarter in which the application is received.
  2. Is the school unit in reporting compliance with MDOE?  If no, State Fiscal Stabilization funds will not be disbursed until the next quarter in which the school unit comes into compliance.
  3. Has the school unit filed its FY 2007 and FY 2008 annual audit report with MDOE?  If no, State Fiscal Stabilization Funds will not be disbursed until the next quarter in which the outstanding audit reports are received.
  4. Does the unit have a high cash balance, as determined by Federal cash management rules, in the State Fiscal Stabilization Fund?  If yes, State Fiscal Stabilization funds will not be disbursed until the next quarter in which the fund balance comes into compliance with Federal Cash Management rules.

Quarterly MEDMS Financial actual uploads must be submitted the day after the end of the quarter (for example, Quarter 1 ends on September 30 therefore, Quarter 1 actual uploads are due October 1).  The files required will be actual balance sheet, actual revenue and actual expenditure for all funds, to include all ARRA Stimulus funds.  These MEDMS Financial files will be used to determine if a school unit has a high cash balance for State Fiscal Stabilization Funds.  The EFU 415 quarterly cash management report will be used to determine cash balances for all other ARRA Stimulus funds.  The quarterly cash management report must be current, accurate, and a copy with an original signature must be on file with Karen Knyff-Crockett in order for this report to be utilized to evaluate a high cash position for the Federal funds.

ARRA on the Web

For extensive guidance on Education Funds in the ARRA please visit the Maine Department of Education Recovery website.