ADE Director's Communication Memo Form


Memo Number : FIN-00-035

Date Created : 05/22/2000

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 and Trust Fund Aid

Regulatory Authority:
ACA 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 third and final calculation of state aid has been completed for 1999-00. Each district's state aid notice is attached to this memo by hard copy and will be mailed on May 25, 2000. All categories of funding have been recalculated since December due to corrections in data and submissions in second quarter attendance figures. The Base Local Revenue Per Student remains at $4,300.68. The rates used for General Facilities Funding and Debt Service Funding Supplement are $37.78 and $17.29 respectively.

Student Growth Funding, Additional Base Funding and Incentive Funding are calculated using growth ADM from the first and second quarters averaged. Additional Base Funding and Incentive Funding are not reduced due to growth funds and growth ADM. The Minimum State and Local Revenue Per ADM (MSLRP) 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 Aid:
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.

Refer questions regarding debt payment amounts to Cindy Chaney 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 notice, contact Vivian Roberts of Local Fiscal Services. Separate funding announcements will be provided to districts that qualify for other programs within the Public School Fund.

Attachments:
    None

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