Although the state can expect some tight financial times ahead due to the impact of COVID-19, in Thursday’s media briefing the Holcomb administration said schools should expect to get their funding for this year.
State officials say the reduction and postponements in sales and income tax collections, along with increasing demands on state services means they will have to dip into their budget surplus, which currently sits at about $2.2 billion. That figure could be as high as $1 billion.
However, despite that OMB Director Chris Johnston says schools should be fine for the remainder of the budget biennium.
Schools received more than $760 million in additional funding this past budget year.
You can hear the Governor and his staff in the Leon-Tailored Audio above.
It runs for 48 minutes. Johnston begins discussing state finances at about 14 minutes into the audio.
