Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Mutual funds raise cash holdings by Rs 12,700 crore despite market rebound in April
    • Invesco Mutual Fund halts fresh inflows into three international FoFs
    • Mirae Asset launches Platinum Hybrid Long-Short Fund under SIF platform, NFO opens May 20 for conservative investors seeking stable, risk adjusted returns
    • SEBI proposes to allow intraday borrowing by mutual funds for purposes other than redemption/ payouts – Market News
    • BTC ETFs lose $635 million in a single day. What next?
    • JPMorgan warns stocks, bonds ‘no longer enough’ amid Middle East conflict
    • ‘There’s a risk of another Liz Truss moment’: City raises spectre of bond market meltdown again | Government borrowing
    • Bonds seen little changed as oil, US yields remain elevated
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Funds»‘I Pray That Your Failure To Deploy These Funds Does Not Result In Deadly Consequences:’ AG Drummond Opinion On School Security Funds
    Funds

    ‘I Pray That Your Failure To Deploy These Funds Does Not Result In Deadly Consequences:’ AG Drummond Opinion On School Security Funds

    August 19, 2024


    Attorney General Gentner Drummond released an “expedited opinion” regarding the distribution of school security funds. Drummond tells State Superintendent Ryan Walters that he needs to immediately send out the “long overdue” funds. 

    Walters requested this opinion on August 12th, saying the law wasn’t clear on how to distribute the funds, claiming lawmakers couldn’t agree on a legislative intent. 

    The question at hand was if schools could roll over unused school security funding from year to year. 

    The attorney general says today he found it “deeply troubling” that the superintendent failed to administer the funds correctly. 

    “Let’s ask the AG for an opinion so we have clarity on the $50 million and whether it rolls over or not,” said Ryan Walters on News 9 last week. “We have to make sure that we’re using funds above board legally.” 

    The opinion from Drummond states that schools can roll over unused money from year to year, as long as they use all of the available funds by the end of the program. 

    OSDE was directed to distribute $50 million to schools across the state to hire school resource officers and enhance school security. The school security money was approved by the state legislature after the 2022 Uvalde school shooting. 

    The opinion from Attorney General Gentner Drummond states “A plain reading of the statute demonstrates legislative intent to provide $50,000,000 in each of the three years of the Program.” 

    Drummond says in a statement he is frustrated that Walters waited more than a year before requesting this opinion saying “Those wasted months have resulted in school districts not receiving millions of dollars in funds they could have used to bolster security and protect students 

    The opinion also notes that OSDE’s guidance to schools was inconsistent, saying the department “arbitrarily and without notice, reversed course and zeroed out the district balances” 

    Drummond says that money needs to be delivered immediately, saying he will not tolerate further delay. 

    “I pray that your failure to deploy these funds does not result in deadly consequences,” said Drummond. 

    State Superintendent Walters said in a statement:

    “Nothing is more important than the safety of our students and at NO time have our schools gone without security funding in any way. Due to ambiguity in the statute passed by the legislature, there was a question of whether some districts that did spend certain security funds in the previous fiscal year could legally roll over that money to this year. The legislature considered, but did not pass, an amendment that would have removed any doubt about the rollover issue. To get clarity on these legal issues, I requested this opinion from the Attorney General and our agency may now move forward.” 

    Senate Pro Tem Greg Treat released the following statement: 

    “I appreciate Attorney General Drummond for issuing a concise and expedited opinion on this matter,” Pro Tem Treat said. “The legislative intent was clear and shouldn’t have needed an Attorney General’s opinion. Regardless, the circumstances we are facing made it necessary. While I will let the attorney general’s opinion speak for itself, I am going to remain focused on ensuring the money to protect children is distributed to school districts as intended and immediately. Lawmakers spoke loud and clear when we passed this legislation. It is now my hope there are no further delays complying with the law.” 

    See the full opinion below.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    What Are Tokenized Money Market Funds? How They Work

    May 13, 2026

    Pharma, healthcare funds are in recovery mode. Should you enter them now? | Personal Finance

    May 12, 2026

    Alternative Investment Funds : Latest News Headlines, Videos and Photo Galleries on Alternative Investment Funds

    May 12, 2026
    Leave A Reply Cancel Reply

    Top Posts

    The Shifting Landscape of Art Investment and the Rise of Accessibility: The London Art Exchange

    September 11, 2023

    Charlie Cobham: The Art Broker Extraordinaire Maximizing Returns for High Net Worth Clients

    February 12, 2024

    The Unyielding Resilience of the Art Market: A Historical and Contemporary Perspective

    November 19, 2023

    ‘There’s a risk of another Liz Truss moment’: City raises spectre of bond market meltdown again | Government borrowing

    May 13, 2026
    Don't Miss
    Mutual Funds

    Mutual funds raise cash holdings by Rs 12,700 crore despite market rebound in April

    May 14, 2026

    Mutual funds increased their cash allocation by Rs 12,726 crore to Rs 1.98 lakh crore…

    Invesco Mutual Fund halts fresh inflows into three international FoFs

    May 14, 2026

    Mirae Asset launches Platinum Hybrid Long-Short Fund under SIF platform, NFO opens May 20 for conservative investors seeking stable, risk adjusted returns

    May 14, 2026

    SEBI proposes to allow intraday borrowing by mutual funds for purposes other than redemption/ payouts – Market News

    May 13, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Active ETFs: 9 Charts on a Record Year

    January 15, 2026

    Central Bank to question Gary Gannon’s right to challenge its role in sale of Israeli bonds – The Irish Times

    July 29, 2025

    $40 billion stock selloff: Hedge Funds, ETFs flee amid tariff shock

    April 4, 2025
    Our Picks

    Mutual funds raise cash holdings by Rs 12,700 crore despite market rebound in April

    May 14, 2026

    Invesco Mutual Fund halts fresh inflows into three international FoFs

    May 14, 2026

    Mirae Asset launches Platinum Hybrid Long-Short Fund under SIF platform, NFO opens May 20 for conservative investors seeking stable, risk adjusted returns

    May 14, 2026
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    ₹9000 monthly SIP can help you retire at 45 with ₹2 lakh monthly pension

    May 5, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.