State Programs - Financial Emergency Assistance - Grant Program
CSFA Number: 586-13-1686
Agency Name
State Board Of Education (586)
Agency Contact
Deb Vespa
217-785-8779
dvespa@isbe.net
Short Description
Districts that are under state control with a Financial Oversight Panel may apply for and receive Financial Emergency Assistance funds to assist with their financial needs or for contractual services to assist with their financial projections and financial analysis.
Subject Area
Education
Program Function
Education
Enabling Legislation
Public Act
Objectives and Goals
To provide districts with financial support that will allow district leadership to focus on improving academic achievement and efficiencies in operations. These funds are targeted to assist the district with staffing, student needs, and contractual services, as approved by the Financial Oversight Panel. Uses include assistance with cash flow needs and consulting services that assist with financial projections and analyses of financial needs.
Types of Assistance
Non-competitive
Uses and Restrictions
The funds are required to be used for ordinary and contingent financial expenditures as approved by the Financial Oversight Panel or for contractual services to assist the district and Financial Oversight Panel with financial projections and financial analysis.
Eligibility Requirements
Under the monitoring of a Financial Oversight Panel, these funds are for districts in financial need.
Eligible Applicants
Education Organizations;
Application and Award Processing
Districts must submit a budget and the budget is approved by the State Board.
Assistance Consideration
Funds are utilized to assist the districts with staffing, student needs, and financial consulting services.
Post Assistance Requirements
Funds are monitored to ensure that are spent as approved by the State Board and Financial Oversight Panel.
Regulations, Guidelines, Literature
As per the allocation statute.
Funding By Fiscal Year
FY 2016 : $1,000,000
FY 2017 : $1,000,000
FY 2018 : $1,000,000
FY 2019 : $1,000,000
FY 2020 : $1,000,000
FY 2021 : $1,000,000
FY 2022 : $1,000,000
FY 2023 : $1,000,000
Federal Funding
None
Notice of Funding Opportunities
None
None