A big settlement the Idaho Attorney General’s office obtained in February from Standard & Poor’s Financial Services will be tapped to cover unexpected increased costs for public schools in Idaho in the current year, under a plan that won unanimous support in the Joint Finance-Appropriations Committee this morning. Under the proposal, which includes an emergency clause to make it take effect immediately upon passage, $21.5 million would be transferred from the Consumer Protection Fund to the Public Education Stabilization Fund, or PESF, the reserve account that covers unexpected school costs. Senate Education Chairman Dean Mortimer, R-Idaho Falls, made the motion; Rep. Wendy Horman, R-Idaho Falls, seconded it; it passed 20-0.

“It’s a transfer of one-time money – good move,” said JFAC Co-Chair Maxine Bell, R-Jerome.

The school budget this year is taking a hit because student enrollment swelled well past projections, with about 50 additional support units, or roughly classrooms of students, across the state. That means another $4.3 million in costs. Also, a program approved by lawmakers last year to cover costs for high school students taking college courses has seen far more participation than expected, and is expected to cost the state $6 million more than budgeted this year. Lawmakers accounted for that cost when they set next year’s budget for schools, but this move will cover this year’s costs.

Legislative budget analyst Paul Headlee said some other school costs also are coming in higher than expected this year, including for transportation and other items; all told, the school budget is expected to need about $11 million more this year than lawmakers budgeted. The boost to PESF will cover those costs, plus replenish the reserve fund for future needs. The bill still needs approval from the House and Senate and the governor’s signature to become law, but budget bills rarely change once they’re set by the joint committee.