A second calculation of state aid has been completed reflecting the addition of $10,000,000 to State Equalization Aid since the July 13th state aid notices were mailed. Each school district's state aid notice is attached to this memo by hard copy and will be mailed August 10, 2000. All funding amounts are calculated using current data. Growth Facilities Funding and Student Growth Funding will be calculated in December and May using 2000-01 attendance figures. All other categories of funding will be calculated again in December and May to reflect current data and current funding levels.
The Base Local Revenue Per Student is $4,492.23, an increase of $191.55 over the previous year. General Facilities Funding is calculated using a rate of $38.10. Debt Service Funding Supplement is calculated using a rate of $16.96. Revenue Loss Funding will be calculated prior to September and will be reflected on the December and May state aid notices. If a school district qualifies for both Revenue Loss Funding and Student Growth Funding, A.C.A. 6-20-326 permits only the greater of the two to be received by the school district.
Each district should be aware that the increase in State Equalization Aid will impact other funding categories. This impact could be either an increase or decrease. Please use this current funding data for budget purposes.
The following is 2000-01 payment information on the various funding categories:
State Equalization Aid:
Paid monthly in 11 payments beginning in August and ending in June.
General Facilities Funding:
Paid quarterly beginning in August. The final payment is in May.
Debt Service Funding Supplement:
Paid quarterly beginning in August. The final payment is in May.
Revenue Loss Funding:
50% paid in September. Balance paid in June.
Student Growth Funding:
100% paid in May.
Growth Facilities Funding:
100% paid in May.
Additional Base Funding:
100% paid in June.
Incentive Funding:
100% paid in June.
Isolated Funding:
75% paid in September. Balance paid in June.
Consolidation Funding:
100% paid in July.
To better assist you, please refer questions regarding debt payment amounts to Cindy Chaney of Loans and Bonds at 501-682-4494. For questions regarding classroom teacher salary requirements, contact Donna Ralph of Financial Accountability at 501-682-5059. For other questions regarding information on the state aid notice, contact Vivian Roberts of Local Fiscal Services. Separate funding announcements will be provided to districts that qualify for other programs within the Public School Fund.