ADE Director's Communication Memo Form


Memo Number : FIN-00-006

Date Created : 07/26/1999

Attention:

Superintendents
Co-op Directors

Type of Memo: Informational
Response Required: No
   
Section:   Public School Finance and Admin Support - Ms. Patricia Martin
Subject:
Rules & Regulations

Regulatory Authority:
See Below

Contact Person:
Patricia Martin

Phone Number:
501-682-5124

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

Regulatory Authority:
Regarding: School Debt Service Funding Supplements :Arkansas Code Annotated 6-11-105 (Repl. 1993) and 6-20-305 (Suppl. 1995); 6-20-601
Regarding: Distribution of Isolated Funding Arkansas Code Annotated 6-20-601 and 6-20-303(17), as amended by Section 10 of Act 1549 of 1999.

The Arkansas Department of Education has amended the Rules and Regulations entitled "Governing the Distribution of Isolated Funds".

This Rules and Regulations has been amended to reference current code cites in compliance with statutory changes from the 82nd Arkansas General Assembly. These changes do not affect the substance of the Rules and Regulations. A Public Hearing was held on Wednesday, May 19, 1999. The public comment period remained open through Friday, June 11, 1999. No comments were received.

The Arkansas Department of Education has repealed the Rule and Regulation "School District New Debt Service Funding Supplements".

This Rules and Regulations was recommended for repeal to comply with statutory changes from the 82nd Arkansas General Assembly. Act 1549 of 1999 removed the distinction between 'old' and 'new' debt. Therefore, this rule and regulation is no longer applicable to current statutes. A Public Hearing was held on Wednesday, May 19, 1999. The public comment period remained open through Friday, June 11, 1999. No comments were received.

In order to prohibit any confusion, please take notice that the program entitled "School District Old Debt Service Funding Supplements" has been renamed "School District Debt Service Funding Supplements". This program will now include both 'old' and 'new' debt.

You may view the Rules and Regulations on the Arkansas Department of Education Homepage under subheading "Rules and Regulations". http://arkedu.state.ar.us/.




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