Federal Government Releases Second 'Installment' of Fiscal Stabilization Recovery Funds for Education

HARRISBURG, Pa., Aug. 2 /PRNewswire-USNewswire/ -- The federal government authorized the release of $514 million representing Pennsylvania's second installment of State Fiscal Stabilization Funds, or SFSF, under the American Recovery and Reinvestment Act, acting Education Secretary Thomas E. Gluck said today.

"We're gratified to learn that the federal government today formally signed off on our state plan for these stabilization funds and is making available the final $514 million we have been anticipating," Gluck said. "The federal stabilization funds will be put to good use in helping us maintain our positive trajectory in educating Pennsylvania's students and helping them succeed."

The funds are the second part of an SFSF award totaling approximately $1.6 billion.  The first portion of the award was received last year. The second part, released today, was contingent on approval of Pennsylvania's specific and detailed plans for meeting the requirements of the SFSF program.

The SFSF funds were included in the 2009-2010 and 2010-2011 state budgets to support K-12 education through the basic education subsidy, and to support funding for public higher education institutions.

The federal Recovery Act already has provided the commonwealth $2.95 billion for a dozen different programs in the Education budget, including the SFSF funds.

Media contact: Steve Weitzman, 717-783-9802 or 717- 602-0044 (cell).

SOURCE Pennsylvania Department of Education

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