How Fiscal Cliff Affects Schools

Reported by: Aaron Adelson
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Updated: 12/27/2012 5:26 pm
Twitter: https://twitter.com/AAdelsonABC36

Reports from Washington D.C. say no deal to avoid the fiscal cliff is near.  It's called the fiscal cliff, because on January 1st automatic tax increases and across-the-board spending cuts go into effect. 

The Fayette County school district receives about $14 million from the federal government this year. 

Going over the cliff means less money for schools.

"My understanding is about 8.2% of our federal funding would be reduced by this fiscal cliff event if it takes place," said John Price, Fayette County Board of Education Chairman

Price says the Fayette County school district has an emergency fund, and would be able to weather the storm, but other districts may not be as lucky.

"A lot of school districts in Kentucky are in very dire need right now so they could be greatly impacted by this loss, because they may not have the contingency fund to cover the loss of the federal dollars.  They're  really going to be in a dire situation is all I can say," said Price.

He says the fiscal cliff talks are creating a lot of uncertainty, and making it hard to plan.  He has a message for Washington:

"We just wish congress would do their job and pass a budget, and we would know what's going to be available to us to serve our kids," said Price.

This is just one of many ways going over the cliff would affect people in Kentucky. 
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