ALBERT LEA, Minn. — Area schools are learning how much money they should expect to see from the state.
Over the last several years, state lawmakers in Minnesota kept more than $2 billion dollars to fix the state’s budget, but it was money that was supposed to go to the schools.
Much of it has been paid back, but the schools are still owed just over $200 million.
With the state’s economy looking better, leaders decided it was time to pay back what was owed.
“With the improvement of the talk shift and the state-aid metering, we’re not having to borrow now in 2013, so what it means there is we’re saving interest expense on our bottom line,” said Lori Volz, Director of Finance and Operations for Albert Lea Public Schools.
She said that money can now go to more useful things.
“It helps the district in a variety of ways. We can use those funds instead on staffing that we need, for example, or any kind of educational services for the students,” Volz said.