rolling reserve

Amid a growing economic collapse due to the forced economic shutdown to deal with the coronavirus crisis, the Alabama House of Representatives met to pass the state’s Education Trust Fund budget Thursday. State Rep. Kerry Rich, R-Albertville, addressed the fear that the economic crisis could negatively impact Alabama’s schools. “We are not going to be … Continued

The Alabama House of Representatives on Thursday passed the 2021 state General Fund budget, which funds non-education state agencies. The 2021 SGF is $2,391,206,601, which is $168,860,692 more than the $2,222,345,909 in the 2020 budget. The 2021 general fund budget goes into effect Oct. 1. Alabama has an arcane budgeting system in which over 90 … Continued

Thursday, State Representative Bill Poole, R-Tuscaloosa, told reporters: “I am very worried about our four-year universities.” Poole is the Chairman of the House Ways and Means Education Committee that crafts that annual Education Trust Fund budgets (ETF). The House passed a record ETF budget, HB187, one a 76 to 1 vote on Thursday. HB187 passed … Continued

Two Senate committees met Monday on the 2020 budgets and moved the 2021 budgets. Despite the massive economic shutdown that has crippled the state economy and thousands of businesses, reporters were assured that there will not be any need to prorate either the general fund or the education trust fund budgets in 2020. Senate President … Continued

By Brandon Moseley Alabama Political Reporter Wednesday, May 13, the Senate Finance and Taxation Education Committee voted against a controversial plan to raid the rolling reserve fund to prop up the State’s troubled General Fund Budget. Alabama inexplicably has two budgets with different revenues earmarked for each. The Education Trust Fund (ETF) supports Alabama’s Colleges, … Continued