ADE Director's Communication Memos

ADE Director's Communication Memo Form

Memo Number : FIN-07-062	Date Created : 05/09/2007

Attention: Superintendents Co-op Directors	Type of Memo:	Informational
	Response Required:	No


Section: Fiscal and Administrative Services - William J. Goff, Assistant Commissioner
Subject: Fiscal Distress Timelines Regulatory Authority: Ark. Code Ann. § 6-20-1904 (as amended by Act 741 of 2007)	Contact Person: Dr. Bobbie Davis Phone Number: 501-682-1297 E-mail: bobbie.davis@arkansas.gov

Act 741 of the 2007 regular session amended Ark. Code Ann. § 6-20-1904. Beginning in 2008, a declining balance resulting from a district's making capital outlay expenditures for academic facilities cannot be used to put a school district in fiscal distress. In addition, this act requires the Department, beginning in 2008, to provide the required notice to public school districts, by March 30, informing the district that it has been identified as being in Fiscal Distress.

Attachments: None