Wednesday, January 14, 2009

Could Kentucky school districts' rainy day funds save the budget crisis?

This from WHAS TV:

Some Kentucky school districts are saving as much as 30% of their total budgets in their contingency funds. That's a huge pool of money. And some in Frankfort are wondering if, instead of making cuts, Kentucky's school districts ought to be spending those big rainy day accounts.

Speaker Greg Stumbo told Hebert, "I think that any fund from any entity that receives matching funds from state government will be looked at."

House A&R veteran Harry Moberley said, "There's no question that in budgeting in these tough times we ought to look at hose reserves and see how they might best be utilized."

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