U. S. Secretary of Education Arne Duncan today announced more than $509 million is now available for Colorado under the American Recovery and Reinvestment Act (ARRA) of 2009. This funding will lay the foundation for a generation of education reform and help save hundreds of thousands of teaching jobs at risk of state and local budget cuts. Colorado will be eligible to apply for another $251 million this fall. Today's funding is being made available per Colorado's successful completion of Part 1 of the State Stabilization Application, which was made available on April 1st.
"The $509 million Colorado will receive today is part of the single largest boost in education funding in recent history," said Duncan. "The President's leadership and support from Congress have made this historic investment possible. Colorado can now utilize these funds to save jobs and lay the groundwork for a generation of education reform."
To date, Colorado has received $140 million in education stimulus funds—representing a combination of funding for Title I, IDEA, Vocational Rehabilitation Grants, Independent Living Grants and Impact Aid. On April 1, Colorado received $55.5 million in Title I funding and more than $80 million in IDEA funding. This represents 50 percent of the Title I and IDEA funding Colorado is eligible for in total. On April 1, Colorado also received $4 million in Vocational Rehab funds and more than $740,000 in Independent Living funds. On April 10, Colorado received more than $1 million in Impact Aid funding.
In order to receive today's funds, Colorado provided assurances that it will collect, publish, analyze and act on basic information regarding the quality of classroom teachers, annual student improvements, college readiness, the effectiveness of state standards and assessments, progress on removing charter caps and interventions in turning around underperforming schools.
Colorado is also required by the Department of Education to report the number of jobs saved through Recovery Act funding, the amount of state and local tax increases averted, and how funds are used.
See Colorado and other state applications for initial funding under the State Fiscal Stabilization Fund Program at http://www.ed.gov/programs/statestabilization/resources.html.