<home> -- <press releases News from Congresswoman Madeleine Z. Bordallo Guam Allocated $108 Million in Stimulus Funds for Education FOR IMMEDIATE RELEASE – June 15, 2009 – Washington, D.C. – Congresswoman Madeleine Z. Bordallo today announced that the U.S. Department of Education (DOE) has notified the Governor of Guam of the availability of $108,000,000 in financial assistance through the State Fiscal Stabilization Fund (SFSF) program. The State Fiscal Stabilization Fund is a new, one-time program created by Congress under the American Recovery and Reinvestment Act of 2009 (ARRA). In total, Guam is eligible for more than $178,000,000 in financial assistance through the recovery package and with this new funding has now been allocated $155,000,000 since the bill was signed into law by President Barack Obama on February 17, 2009. The State Fiscal Stabilization Fund was created to advance essential education reforms to benefit students from early learning through post-secondary education. As part of the American Recovery and Reinvestment Act, the State Fiscal Stabilization Fund will allow local governments to ensure that educational services continue regardless of the state of the economy. The financial assistance provided to the Government of Guam from the State Fiscal Stabilization Fund comes on the condition that 81.8% of the funds are used for the support of public elementary, secondary, and higher education. Those funds are to be used for such initiatives as increasing teacher quality and improving academic facilities. The remaining 18.2% of funds are allocated for other government services including the establishment or implementation of a credible financial management system. Recipients of the State Fiscal Stabilization Fund must also provide assurances for the establishment of a longitudinal data system whereby student progress is tracked over multiple years and across differing schools; the strengthening of technology infrastructure of public elementary, secondary, and public institutions of higher education; and the improvement of academic standards and means of assessment. Within the guidelines set forth for the State Fiscal Stabilization Fund, the Government of Guam may use these funds to address the educational needs of students at John F. Kennedy High School. “The federal funds for education will allow the Government of Guam to address the most pressing needs of Guam’s students and particularly those of JFK High School,” Congresswoman Madeleine Z. Bordallo said today. “These funds present a unique opportunity for our local government to repair schools and improve the quality of education for our students.” # # # matthew.mateo@mail.house.gov or andrew.tenorio@mail.house.gov |
