A Moody’s Ratings report indicates rough financial waters ahead for many public-school districts around the country.
Moody’s issued a warning to let school districts know they may be in dire financial trouble due to a number of issues affecting their financial security, The Lion reports.
One of the reasons schools are in this financial predicament is that they were given large amounts of taxpayer dollars during the COVID-19 pandemic. The federal government issued funds to address the crisis, but many schools used them for ongoing budget items.
The federal government sent $190 billion of taxpayer money to schools under a program called Elementary and Secondary School Emergency Relief (ESSER).
The U.S. Department of Education stated in its 2022 report on ESSER that these funds were authorized by Congress and deemed critical for re-opening public schools.
“Three years later, we are seeing the results of the Biden-Harris Administration’s successful implementation of ESSER, including more adults working in elementary and secondary schools than before the pandemic in support of students’ academic, mental health, and other needs; record expansions of tutoring, summer learning, and afterschool programs; and the greatest one-year gains in achievement nationwide since 2009,” states the report. […]
– Read More: heartlanddailynews.com
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