Sequestration – What is It?
Words do matter. Merriam-Webster.com, defines the word “sequester” to mean to set apart or segregate - like a jury being sequestered during a trial. The word also has a meaning in law related to assets being held during a dispute. Both of these definitions are helpful when thinking about the implications of the most recent inaction of Congress and the president regarding the federal budget.
The direct implication of sequestration will not impact the school district until fall, 2013. The Federal funds impacting Title One programming and Individuals with Disabilities Education Act (IDEA) will be reduced by approximately 5.0 – 5.5 percent annually. At this point, our school district will experience a reduction of $5,100 from Title One and $9,942 from Special Education reimbursements.
State Budget Forecast:
The Minnesota Management and Budget office recently released the February forecast, which provides policy-makers an updated look at the state’s budget and economic situation. The November forecast showed the state budget for FY 2014-15 was projected to have a shortfall of a little more than $1 billion. The updated numbers indicate that the deficit will be $627 million. The better news is that in the current biennium, FY 2012-13 shows a positive balance of $295 million in one-time money, of which $290 million is earmarked by state law to pay back a portion of the
K-12 education shift used in the previous session to balance the budget. An additional $5 million will go to the budget reserve. The forecast also revealed that electronic pull-tab revenue that is slated to pay for the bonds on the new Vikings stadium are about $15 million short in this biennium and $39 million below forecast in FY 2014-15.
Senior of the Week:
The EV-W School District would like to recognize Brianna Kalahar, daughter of Michael and Michelle. Brianna excels academically and is currently taking three college classes. She has been recognized for her involvement and dedication to the gymnastics program and Carbon Cutting organization, and also serves as vice president of Aquila. In addition to her school involvement and leadership roles, Brianna will be graduating with Honors. The EV-W administration, faculty and staff are extremely proud of your accomplishments. Congratulations!