chart - Ropes & Gray

Ropes & Gray LLPARRA FundingCategoryState FiscalStabilizationFundProgram NameState FiscalStabilizationFundFunding Details Released to Date● $32.6 billion in funding available for theState Fiscal Stabilization fund through its 2components: the Education Stabilization Fundand the Government Services Fund.→ $26.6 billion is available throughthe Education Stabilization Fund→ $6 billion is available through theGovernment Services FundAmerican Recovery and Reinvestment Act (ARRA) Stimulus Funding ImplementationDepartment/Sub agencyDept. ofEducationTotal FederalFunds Availablethrough ARRA$53,600,000,000$26,600,000,000$6,000,000,000FundingMechanismFormulaGrantsEligibleEntitiesStatesImplementation Steps Taken to DateDepartment of Education has allocated thesefunds to states.● Dept. of Education issued guidance March18, 2009 for this program.● Dept. of Education issued further guidance onMay 11, 2009 clarifying which funds may beused for construction and renovation.→ Education Stabilization Fund moniesmay be used by public institutions of highereducation for modernization, renovation, orrepair of facilities used for instruction, researchor student housing, but may not be used fornew construction. Applications were due byJuly 1, 2009.→ Government Services Fund monies maybe used for renovation of repair of institutionsof higher education as well as newconstruction. Applications were due by July 1,2009.Designates Deadline PassedImportant References● StateAllocations:● Dept. ofEducationGuidance:● Dept. ofEducationGuidance:● ProgramWebsite:http://www.ed.gov/about/overview/budget/statetables/09stbyprogram.pdfhttp://www.ed.gov/programs/statestabilization/guidance.pdfhttp://www.ed.gov/programs/statestabilization/guidance-mod-05112009.pdfhttp://www.ed.gov/programs/statestabilization/applicant.htmlUpdated as of October 30, 2009 Page 46