ADE Director's Communication Memo Form


Memo Number : FIN-99-022

Date Created : 05/21/1999

Attention:

Superintendents
Co-op Directors

Type of Memo: Regulatory
Response Required: No
   
Section:   Public School Finance and Admin Support - Ms. Patricia Martin
Subject:
State Equalization & Trust Fund Aid

Regulatory Authority:
A.C.A. Section(s) 6-5-3, 6-20-3, 6-20-601, and Acts 1300 and 1361 of 1997

Contact Person:
Vivian Roberts

Phone Number:
501-682-4486

E-mail:
vroberts@arkedu.k12.ar.us

Enclosed in the May 20, 1999, mass mail distribution is the final State Aid Printout for 1998-99. All categories of funding have been recalculated since January due to corrections in data and re-submissions in current year first and second quarter attendance figures. The Base Local Revenue Per Student remains at $4,099.22.

As a reminder, A.C.A. 6-20-303 (28) requires Student Growth Funding be provided to each eligible school district not later than December 30. It also requires Student Growth Funding be based on the increase in ADM for the two quarters of the current year over the ADM of the previous year. Since the second quarter attendance is now available, Student Growth Funding is now being distributed.

Additional Base Funding and Incentive Funding are calculated using growth funds and growth ADM from the first and second quarter ADM averaged. Additional Base Funding and Incentive Funding are not reduced due to growth funds and growth ADM. The Minimum State and Local Revenue Per ADM remains at $4,169.82. Adjustments to Additional Base Funding concerning refunding bonds and second lien bonds have also been made.


The following is payment information on the various funding categories
(*revised from June, 1998):

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.

Student Growth Funding:
75% paid in December based on the increase in ADM for the first quarter.
Balance paid in May based on the increase in ADM for the first two quarters.

Isolated Aid:
75% paid in September. Balance paid in June.

Consolidation Aid:
100% paid in August.

Debt Service Supplemental Payment:
Paid quarterly beginning in August. The final payment is in May.

Growth Facilities:
*100% paid in May.

Additional Base Funding:
*100% paid in May.

Incentive Funding:
*100% paid in May.

Please refer to A.C.A. 6-5-307 for classroom teacher salary requirements pertaining to Educational Excellence Trust Fund funds. Separate funding announcements will be provided to districts who qualify for other programs within the Public School Fund.


Attachments:
    None

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