The mid-year calculation of state aid has been completed. Each school district's state aid notice is attached to this memo by hard copy and will be mailed December 13, 2001. All funding amounts are calculated using current data. The revisions made to the Public School Fund budget in November are reflected in this state aid notice. The Base Local Revenue Per Student is $4,567.88, reduced $100.39 since the July 5 printout. The rates used to calculate General Facilities Funding and Debt Service Funding Supplement are $39.00 and $18.22 respectively.
Revenue Loss Funding and Student Growth Funding amounts for qualifying school districts are shown on lines 13 and 14. Student Growth Funding is calculated using the first quarter Average Daily Membership (ADM). Student Growth Funding will be recalculated in May using the ADM from the first two 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 calculated using growth funds and growth ADM from the first quarter ADM. (The spreadsheet attached to director's memo number DIR-02-020, dated November 19, used projected growth based on October 1 enrollment.) Additional Base Funding and Incentive Funding are not reduced due to growth funds and growth ADM on this printout. They will be recalculated in May to include growth funds and growth ADM from the first two quarters averaged. The calculation of the Minimum State and Local Revenue Per ADM for Additional Base Funding is $4,831.34, reduced $82.32 since the July 5 printout.
The following is 2001-02 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 August. Balance paid in June.
Student Growth Funding:
50% paid in January. Balance 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.
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.
As stated in the first paragraph, each district's state aid notice will be attached to this memo and mailed December 13. State aid notices for all districts can be viewed through the Arkansas Department of Education (ADE) web address, http://arkedu.state.ar.us/. Click on Directory and Programs and Local Fiscal Services. Current rules and regulations pertaining to various funding categories can be viewed through the ADE web address by clicking on Administrators.