ADE Director's Communication Memo Form


Memo Number : FIN-00-024

Date Created : 12/27/1999

Attention:

Superintendents
Co-op Directors

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

Regulatory Authority:
A.C.A. 6-5-3, 6-20-3, 6-20-6, and Acts 1392 and 1549 of 1999

Contact Person:
Vivian Roberts

Phone Number:
501-682-4486

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

The second calculation of state aid has been completed and each district's state aid notice is attached to this memo by hard copy. Please notice the change in format on your state aid notice (lines 12 - 23). The funding amounts are now listed in the sequence in which the funding categories are calculated. A line for Revenue Loss Funding has also been added (line 13).

All funding amounts are calculated using current data. The Base Local Revenue Per Student remains at $4,300.68. The rates used for General Facilities Funding and Debt Service Funding Supplement are $37.80 and $17.31 respectively. Student Growth Funding and Growth Facilities Funding are calculated using the first quarter Average Daily Membership (ADM). Student Growth Funding will be recalculated in May using the two quarter ADM.

Additional Base Funding and Incentive Funding are calculated using growth funds and growth ADM from the first quarter ADM. Additional Base Funding and Incentive Funding are not reduced due to growth funds and growth ADM. They will be recalculated in May to include growth funds and growth ADM from the two quarter ADM. The Minimum State and Local Revenue Per ADM (MSLRP) for Additional Base Funding was held constant when growth funds and growth ADM were calculated in the formula. This was done to prevent non-growing districts from being adversely affected by the growth in the district at the 95th percentile.

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

State Equalization Funding:
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.

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

Revenue Loss Funding:
50% paid in October. Balance paid in June.

Student Growth Funding:
100% paid in May.

Growth Facilities Funding:
100% paid in May.

Additional Base Funding:
100% paid in June.

Incentive Funding:
100% paid in June.

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

Consolidation Funding:
100% paid in August.

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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