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Monday, January 2, 2012

Department of Education Carry Over $34.2 Million Into New Fiscal Year

According to a report released by the State of Hawaii's Department of Education, a total of $34.2 million will be carried over from the last fiscal year into the new one.  The department stated that they are trying to rebuild their "rainy-day" fund and save for textbooks, electronics and other purchases.  State law allows the DOE to carry over a maximum of 5 percent of its general-fund budget, and that money must be spent within the first six months of the following fiscal year.  The $34.2 million only accounts for 2.7 percent of the Department of Education's general-fund budget.

Source: Honolulu Star Advertiser, 1-2-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor
Global Executive Realty, LLC
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