04.16.2014
The State Allocation Board Releases Funds for Projects On the State’s Current Unfunded List

On April 7, 2014, the State Allocation Board (SAB) released priority funds totaling $372,200,000 for school districts that submitted requests during the current round of priority funding.  SAB designated this release for 105 projects in 43 school districts.

In order to obtain funding apportioned to a specific project, school districts must submit a Fund Release Authorization Form to SAB by July 7, 2014.  The penalty for not submitting a Fund Release Authorization Form depends on whether the particular project has already received a non-participation occurrence (“NPO”) in the past.  SAB assigns NPO to projects whenever a school district fails to submit: 1) a valid priority funding request within the 30 day filing period window or 2) a valid SAB 50-05 after the SAB approves an apportionment.  The first NPO typically acts as a warning while a second NPO will result in the loss of funding.  For the current priority funding release, SAB will assign NPOs to projects if the school district misses the July 7, 2014 deadline.  However, for projects with prior NPOs, SAB may fully rescind the funding apportionment and delete the project from the unfunded list.  For more information on the funding, including a list of the effected projects, please visit: http://cashfacilitiesnews.org/sab-approves-372-2-million-in-priority-funding-apportionments/

 

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