Memphis City Schools and the city of Memphis have reached an agreement on school funding that has been approved by the state education commissioner.
Under this proposal, the district will use $57.6 million its reserves to pay off debt to the city. The city will in turn give it back to the district.
In a letter to MCS general counsel Dorsey Hopson, state education commissioner Tim Webb said the transfer would meet the state’s maintenance of effort law, which says local governments can not reduce funding to school systems unless the student population drops. That means the state will not withhold its funding to the school district.
“At this time, the proposal submitted appears to satisfy the maintenance of effort of local funding requirement,” Webb said. “Therefore, the department grants preliminary approval of such proposal pending submission of budget documents and formal action of MCS.”
The city council slashed by $66.2 million its subsidy of the district, which triggered a threat by the state to withhold $423 million in funding. The district sued the city in an effort to recoup the funds.
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ExPatNortherner
Aug 6, 2008 | 9:52 AM |
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integrityforus1
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integrityforus1
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But4grace
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But4grace
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bubbah
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sonnygll
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sonnygll
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irishoaks
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