ADE Director's Communication Memo Form


Memo Number : FIN-00-01

Date Created : 07/01/1999

Attention:

Superintendents
Co-op Directors

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

Regulatory Authority:
Ark Code Ann & Acts 1392 and 1549 of 1999

Contact Person:
Vivian Roberts

Phone Number:
501-682-4258

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

The initial calculation of state aid has been completed and each school district's individual print-out is being attached by hard copy. These are being mailed on July 2, 1999.

All funding amounts are calculated using current data. Student Growth Funding and Growth Facilities Funding will be calculated in December and May using current year attendance figures. All other categories of funding will be calculated again in December and May to reflect current data and current funding levels.

Total State Equalization Aid reflects an increase of $52,534,133 over the final distribution level of 1998-99. The Base Local Revenue Per Student is $4,300.68, an increase of $201.46 over the previous year. General Facilities Funding is calculated using a rate of $ 37.84. Debt Service Funding Supplement is calculated using a rate of $17.41.

The following is 1999-00 payment information on the various funding categories:

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:
100% paid in May.

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

Consolidation Aid:
100% paid in August.

Debt Service Funding Supplement:
Paid quarterly beginning in August. The final payment is in May.

Growth Facilities Funding:
100% paid in May.

Additional Base Funding:
100% paid in June.

Incentive Funding:
100% paid in June.

Please refer to Act 1549 of 1999 for revisions in calculating the funding categories listed on your printout.

If you have questions regarding debt payment amounts, call Kent Douglas of Loans and Bonds at 501-682-4494. For questions regarding classroom teacher salary requirements contact Donna Ralph of Financial Accountability at 501-682-5059. For other questions regarding information on the State Aid printout, contact Vivian Roberts of Local Fiscal Services. Separate funding announcements will be provided to districts that qualify for other funding programs within the Public School Fund.


Attachments:
    None

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