Ark. Code Ann. Sec. 6-20-2502 defines the calculation for the Academic Facilities Wealth Index. The Academic Facilities Wealth Index is used to determine the local school district's share of financial participation in a local academic facilities project eligible for state financial participation under priorities established by the Facilities Division. The Academic Facilities Wealth Index for 2006-2007 is attached to this memo. The calculations for the 2007 index are based on data submitted through the Arkansas Public School Computer Network (APSCN) as of July 25, 2006.
Districts are reminded that the Academic Facilities Wealth Index is used in conjunction with the square foot allocation for new construction and the R S Means estimated data to determine the state’s financial participation in Partnership Projects. The 2007 Wealth Index percentages will be used for all Partnership Projects which were submitted for consideration in March 2006.
As Partnership Agreements are submitted for consideration, the Division for Academic Facilities will review the project amounts to ensure that the most current Facilities Wealth Index has been applied. Superintendents are reminded that districts whose Wealth Index is 1 or greater are ineligible for state participation funding.