The final calculation of state aid has been completed for 2001-02. Each school district's state aid notice is attached to this memo by hard copy and will be mailed May 16, 2002. All funding amounts are calculated using current data. The reduction in the Public School Fund appropriation per Director's Memo DIR-02-032 is reflected in this calculation.
The Base Local Revenue Per Student is $4,541.70, down $26.18 since the December printout. The rates used to calculate General Facilities Funding and Debt Service Funding Supplement are $39.00 and $18.22 respectively. These rates have not changed since the July 5, 2001 printout.
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. The Minimum State and Local Revenue Per ADM for Additional Base Funding is $4,810.40.
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 September. 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.
Consolidation Funding:
100% paid in July.
Please refer questions regarding debt payment amounts to Cindy Hedrick 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 May 16. State aid notices for all districts can be viewed through the Arkansas Department of Education (ADE) website http://arkedu.state.ar.us/. Click on Directory and Programs and then Local Fiscal Services. Current rules and regulations pertaining to various funding categories can be viewed through the ADE website by clicking on Administrators.