Rainy Day Fund

Teacher Raise
4:11 pm
Tue October 1, 2013

Ala. Budget Chairman Says Teacher Raise Unlikely

The chairman of a Senate education budget committee says a raise for school employees appears unlikely in the fiscal year that begins next October
Credit istockphoto

The chairman of a Senate education budget committee says a raise for school employees appears unlikely in the fiscal year that begins next October.

Chairman Trip Pittman said Tuesday repaying the education budget's debt to the state Rainy Day Fund is a priority for fiscal 2015 because it's required by state law.

Pittman says debt and other obligations, including increased health insurance costs, will likely use up extra money in the fiscal 2015 budget.

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State Paying Debt
3:41 pm
Fri September 27, 2013

Alabama Pays Majority Of Rainy Day Fund Debt

Gov. Robert Bentley says the state will repay $260 million to the Rainy Day Fund for public schools in the next few days.
Credit istockphoto

Gov. Robert Bentley says the state is about to repay the majority of a big debt it owes.

He said Friday the state will repay $260 million to the Rainy Day Fund for public schools in the next few days. He says the repayment is a sign the economy is picking up in Alabama, including the collection of more income and sales taxes.

The state's Rainy Day Fund was empty when Bentley came into office because $437 million had been removed to shore up the state education budget during the recession in 2009. State law required the repayment of the money by Sept. 30, 2015.

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