$40M in E-rate Funds Suspended

摘要

On August 3, the not-for-profit Schools and Libraries Division (SLD) of the Universal Service Administrative Company (USAC), which runs the federal E-rate program, suspended the issuance of funding commitment letters, pending a move from corporate to government accounting standards. Those watching the program thought it was a relatively minor issue, but two months later, a front-page article in the New York Times pointed out that the problem was serious: about $1 billion in funds could be delayed. Given that some four percent of E-rate money goes to libraries, this means about $40 million is stalled.