The mid-year calculation of state aid for 2003-04 has been completed. Each school district’s state aid notice is attached to a hard copy of this memo and will be mailed December 11, 2003. State aid notices can be seen after December 18th on the Arkansas Department of Education web page, http://arkedu.state.ar.us/. Click on Directory & Programs, then Local Fiscal Services. Scroll down until you see State Aid to School District and Educational Excellence Trust Funds Fiscal Year 2003-04 (Report dated December 11, 2003). Click on School Districts. To print an individual printout, select File, Print, then Current Page.
All funding amounts are calculated using current data. The Base Local Revenue Per Student remains at $4,721.42. The rates used to calculate General Facilities Funding and Debt Service Funding Supplement are $38.60 and $18.00 respectively. Amounts for Revenue Loss Funding and Student Growth Funding for qualifying school districts are shown on lines 13 and 14 of the state aid notice. Student Growth Funding is calculated using the 2003-04 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. These fund categories will be recalculated in May to include growth funds and growth ADM from the first two quarters averaged. The Additional Base Funding and Incentive Funding for non-growing districts are not reduced due to growth funds and growth ADM, if any, of the district at the 95th percentile. This is done by excluding the growth funds and growth ADM, if any, of the district at the 95th percentile in the calculation of the Minimum State and Local Revenue Per ADM. The Minimum State and Local Revenue per ADM is currently $5,006.71.
The following is 2003-04 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 June.
Additional Base Funding:
100% paid in June.
Incentive Funding:
100% paid in June.
Isolated Funding:
75% paid in September. Balance paid in June.
Refer questions regarding debt payment amounts to Cindy Hedrick of Loans and Bonds at 501-682-4494. Direct questions regarding information on the state aid notice to Vivian Roberts of Local Fiscal Services. Separate funding announcements will be provided to districts that qualify for other programs within the Public School Fund.
This Director's Memo and state aid notices are being mailed directly to the school districts.