Governor Mike Parson announced the release of more than $126,900,000 in previously-restricted Fiscal Year 2021 funds, including over $117,460,000 in general revenue.

A news release says due to the financial impact of COVID-19, the state restricted approximately $449 million in FY21 spending to ensure a balanced budget and the necessary funds to combat the virus moving forward. At the time these budget decisions were made, Missouri’s unemployment rate was projected to be at roughly 16.3 percent.

With Missouri’s current unemployment rate at 4.4 percent and 67 percent of jobs recovered as of November 2020, the state is in a better economic position than previously projected.

The funds released include nearly $26 million for the Department of Higher Education and Workforce Development and $1.5 million for the Department of Elementary and Secondary Education.

The remainder includes funding for several other departments, including the Office of the Lieutenant Governor, Office of Administration, Department of Agriculture, Department of Natural Resources, Department of Economic Development, Department of Public Safety, Department of Mental Health, Department of Health and Senior Services, and Department of Social Services.

In October 2020, Governor Parson released nearly $40 million in FY21 general revenue funds and allocated approximately $95 million in CARES Act funds for critical services in several areas. Nearly $100 million of these funds were to support K-12 and higher education.