A fourth and final calculation of state aid has been completed for 2000-01. Each school district's state aid notice is attached to this memo by hard copy and will be mailed May 17, 2001. All categories of funding have been recalculated since December due to corrections in data and submissions in second quarter attendance figures. The Base Local Revenue Per Student remains at $4,492.23. The rates used to calculate General Facilities Funding and Debt Service Funding Supplement are $38.26 and $16.94 respectively. Growth Facilities Funding is calculated using the ADM from the first quarter. Student Growth Funding, Additional Base Funding and Incentive Funding are calculated using growth funds and growth ADM from the first and second quarters averaged. 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.
Additional Base Funding and Incentive Funding are not reduced due to growth funds and growth ADM. The Minimum State and Local Revenue Per ADM for Additional Base Funding was held constant when growth funds and growth ADM were calculated in the formula. This was done to prevent non-growing districts from being adversely affected by the growth in the district at the 95th percentile.
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 the Loans and Bonds unit 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.
Attachments are being mailed directly to school districts.