Ark. Code Ann. Sec. 6-20-2502 and Act 727 of 2007 define the calculation for the Academic Facilities Wealth Index (Index). The 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 Arkansas Division of Public School Academic Facilities and Transportation (Division). The Index for 2008-2009 is attached to this memo. The Arkansas Public School Computer Network (APSCN) is the source of the data used in the calculations for the 2008-2009 Index.
Districts are reminded that the Index is used in conjunction with the square foot allocation for new construction from the Division’s cost estimating charts to determine the state’s financial participation in the Partnership Program. The 2008-2009 Index will be used for all Partnership Projects submitted for consideration in 2008 for the 2009-2011 biennium.
According to Act 727 of 2007, districts with an Index of 1.00 or greater will be funded at the same level as the first school district with an Index below 1.00, except that this funding will not exceed the amount of funding provided for an Index of nine hundred ninety-five thousandths (0.995).