The new Rules and Regulations Governing Revenue Loss Funding are now available on the Department's Website, http://arkedu.state.ar.us/reg.htm. These Rules and Regulations comply with Acts 1296 and 1549 of 1999.
The Revenue Loss Funding calculation, as explained in the Rules and Regulations, measures the impact a loss in students or a loss in assessment has on a school district's revenues. Revenue Loss Funding is included in the calculation of Total State and Local Revenues. This could affect a school district's Additional Base Funding. Also, a school district may not receive both Revenue Loss Funding and Student Growth Funding. If a district qualifies for both, it shall receive whichever is the greater of the two (2) amounts.
These funds are considered non-restricted revenues. The first installment will be distributed by October 31, 1999. The Revenue Loss Funding revenue code is 31650, and the Source of Funds code is 000.