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Monday, March 08, 2010

$86 Million: NM One of First States to Receive New Round of Education Stabilization Funds

Governor Bill Richardson released a statement today announcing that New Mexico is receiving $85,944,012 in the second phase of State Fiscal Stabilization Funds. The federal stimulus funds were provided directly to governors to help save jobs and drive education reform. New Mexico is one of the first five states approved to receive its Phase II funds thus far, joining Massachusetts, New Jersey, Illinois, and Ohio.

“New Mexico stepped up to the plate and showed that we have a strong foundation for education reform, data collection, and accountability,” Governor Richardson said in a written statement. “Secretary Veronica García and her team were able to plan, apply, and respond quickly to get the funds to our state as soon as possible. Every effort was made to secure more financial support for schools fast.”

“This money will flow to classrooms and higher education all over New Mexico,” said former Governor Toney Anaya, Executive Director of the New Mexico Office of Recovery and Reinvestment. “The funds will help teachers, students and communities continue progress toward improving public education across the state.”

According to the Governor, these funds will be used, as proposed by the administration, to increase distributions through the education funding formula and help school districts offset budget cuts imposed by the Legislature for FY 10 & FY 11. They will also go to New Mexico’s colleges and universities.

New Mexico demonstrated that the Public Education Department could comply with data reporting requirements that would enable the state to move the following four areas forward: (a) achieving equity in teacher distribution, (b) improving collection and use of data, (c) standards and assessments to support instruction, and (d) supporting struggling schools. New Mexico’s full Phase II State Fiscal Stabilization Fund application can be found on the New Mexico Public Education Department website.

New Mexico Education Secretary Veronica García said, “I thank my team for an incredible effort to ensure that New Mexico schools receive every dollar they deserve from the American Recovery and Reinvestment Act.”

March 8, 2010 at 07:51 PM in Economy, Populism, Education, Gov. Bill Richardson, NM Office of Recovery and Reinvestment, Obama Administration | Permalink


NOW would be a REAL good time to ask Steve Pearce how he feels about the Stimulus.

Posted by: qofdisks | Mar 8, 2010 8:02:36 PM

Let's hope the money isn't just used to bloat the administrative salaries and hire more athletic coaches.

Posted by: Ellen Wedum | Mar 9, 2010 6:56:56 AM