American Recovery and Reinvestment Coordinating Council Report 

Conference call with Department of Education staff responsible for drafting rules concerning use of education stabilization funds for higher education and common education.

Met with Higher Education work group regarding budgetary aspects, financing opportunities and other opportunities under ARRA.

Met and reached consensus with House and Senate leadership staff, Secretary of Environment, and heads of Oklahoma Water Resources Board and Department of Environmental Quality on 80/20 minimum and 70/30 target loan to grant program for clean water and fresh water projects.

Met and reached consensus with House and Senate leadership staff on allocation of stimulus FMAP funds between all state agencies receiving FMAP funds.

Define financing opportunities available to Oklahoma under ARRA. Received reports from Goldman Sachs and Kutak Rock. Seeking verification from JP Morgan Chase on information provided by Goldman Sachs.

Awaiting rules/guidance from U.S. Department of Education on stabilization funds.

Working with ARRA members, agencies and others on opportunities and requirements