Michigan public schools 2024-2025 budget borrowing options for projected operating cash-flow shortfalls as spend down federal stimulus funding date approaches
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As Michigan public schools navigate the preparation of their 2021-2022 budgets, we wanted to again provide you with a reminder of the short-term borrowing options available to cover projected operating cash-flow shortfalls. The good news is that the financial picture for many schools has improved from the financial doomsday predicted last spring at the beginning of the COVID-19 pandemic. Although the 2021-2022 School Aid budget has not been finalized, it appears there will be a modest increase in funding over the level of funding for the current and prior school years. The federal stimulus funding has also provided much needed support to schools to cover additional operating costs incurred due to the pandemic.