On Monday, June 11, the State Board of Education approved the Public School Fund budget for the 2001-2002 fiscal year. The Poverty Index Fund appropriation will be funded at 8.5 million dollars. Director's Memo FIN-01-032 requested that school personnel review the data to be used in the calculation of the distribution of Poverty Index Funds. For the 2001-2002 fiscal year, Poverty Index Funds will be distributed to schools with 72% or more Kindergarten (K) and Grade 1(1) students that are eligible to receive free and or reduced priced meals. The percentage calculation is based on the number of K1 students that are eligible to receive free and or reduced priced meals divided by the number of K1 students enrolled. Poverty Index Funds will be distributed at $585.49 per enrolled student to the qualifying schools. The attachment shows each school's percent of free and or reduced students, and the amount of funding each qualifying school will receive.