SAB Approves $372.2 Million in Priority Funding Apportionments

April 7, 2014

Today the State Allocation Board (SAB) unanimously approved $372.2 million in Priority Funding apportionments for 105 projects in 43 school districts.  The SAB was able to provide funds for all projects that chose to participate in the current Priority Funding filing round.  Requests were submitted for 105 of 170 eligible projects on the Unfunded List (Lack of AB 55 Loans), representing a 62% participation rate.

Districts that received an apportionment at today’s hearing must submit a Fund Release Authorization (Form SAB 50-05) within 90 days, by July 7, 2014.  Failure to meet the fund release deadline will trigger non-participation regulations.  Projects that received an apportionment at today’s hearing that do not submit a valid Form 50-05 by the deadline will:

-          Receive one non-participation occurrence, or;

-          Be fully rescinded and not return to the Unfunded List (Lack of AB 55 List) – second occurrence only.

 

You can click the link below for the SAB agenda from the meeting.  Click on the “Consent” tab; see Attachment B “Unfunded Approvals Receiving Priority Funding Apportionment” for the list of districts and projects that received an apportionment.

 

http://www.documents.dgs.ca.gov/opsc/SAB_Agenda_Items/2014-04/April_7_2014_Agenda.pdf

 

~ Rebekah Cearley