ADE Director's Communication Memo Form


Memo Number : FIN-00-034

Date Created : 05/12/2000

Attention:

Superintendents
Co-op Directors
Elementary Principals

Type of Memo: Informational
Response Required: No
   
Section:   Public School Finance and Admin Support - Ms. Patricia Martin
Subject:
Poverty Funds Index Calculation for 2000 -2001 fiscal year

Regulatory Authority:

Contact Person:
Patricia Martin or Dave Westmoreland

Phone Number:
501/682-5124

E-mail:
pmartin@arkedu.k12.ar.us or dwestm\\\\\

The draft calculation of the Poverty Index Funds for the 2000-2001 fiscal year is now available on the Arkansas Department of Education Website, at: http://arkedu.state.ar.us/school_finance.htm . At this time, Poverty Index Funds will be distributed to schools with 72% or more Kindergarten (K) and Grade 1 (1) students that are eligible to receive free and or reduced priced meals. The percentage calculation is based on the number of K1 enrolled students that are eligible to receive free and or reduced priced meals. A total of $8,500,000 will be distributed at $598.17 per enrolled student to the qualifying schools.

The Math School Improvement Planning Unit (MSIP Unit) will contact each school qualified to receive Poverty Index Funds during May, 2000. They will assist each school in the development of its Poverty Index Plan. Prior to July 31, 2000, each Plan will be reviewed. The MSIP Unit will notify the Public School Finance Section as to which Plans have been approved. (See ADE Rules and Regulations Governing the Distribution of Poverty Index Funds, Section 4.0) The Public School Finance Section will publish the final calculation for the distribution of the Poverty Index Funds for the 2000-2001 fiscal year based on the Plans that have been approved. Poverty Index Funds will be distributed in two payments. The dates of those payments will be published by July 1.

The ADE appreciates the diligent efforts by many schools to review and correct data discrepancies previously reported. Those corrections are included in this calculation.

Direct questions concerning the funding calculations to Patty Martin at (501) 682-5124. Questions concerning a school's Poverty Index Plan should be directed to Dr. David Westmoreland at (501) 682-5834 or dwestm@arkedu.k12.ar.us .

Attachments:
    None

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