ADE Director's Communication Memo Form


Memo Number : FIN-00-020

Date Created : 10/27/1999

Attention:

Superintendents
Co-op Directors

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

Regulatory Authority:
Act 1296 and 1549 of 1999

Contact Person:
Richard McDowell

Phone Number:
501-682-4258

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

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.

Attachments:
    None

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