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

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