Alabama Finance Update
Schools in Alabama may soon get some much-needed help in funding facilities, if Governor Bob Riley’s proposed $850 million bond issue is passed. A survey shows many state legislators agree that construction funding is needed, and that perhaps the amount should be even higher. Debate over how to split the money between K-12 and higher education and how to distribute funds to school districts is expected. Also, the state’s Education Trust Fund for public schools and colleges may provide as much as 7.7% in increased spending on education next year, thanks to improvement in the economy.