Culver Signs School Cash Reserve Bill

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By Becky Ogann

Story Created: Jan 20, 2010 at 12:08 PM CST

Story Updated: Jan 20, 2010 at 5:22 PM CST

DES MOINES (AP) - Gov. Chet Culver signed into law a measure forcing local schools to dip into their cash reserves before turning to property taxpayers for additional funding.

At the same time Wednesday, the governor signed a measure delaying a decision on basic state funding for local schools, hoping that better economic times next year will allow for a bigger increase.

The measures were part of a package of education bills the governor asked lawmakers to approve when this year's session convened last week.

Legislative staffers said the state's 361 school districts have cash reserves of more than $300 million, and the governor said a deep and lingering recession is putting pressure on all levels of government to make ends meet.

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