This brief explains why concerns over an impending "fiscal cliff" for public school districts as federal Elementary and Secondary School Emergency Relief funds near their expiration are misplaced. Due in part to federal pandemic aid, most state budgets are flush with cash, with record-high rainy-day funds, positioning them to absorb any…

Wisconsin school districts received more than $2 billion in one-time federal relief funds to address the effects of COVID-19 and boost student recovery and district finances. Early spending focused on educational technology to help students and schools adapt to virtual learning, while later spending focused on catching students up academically…