Arkansas Department of Education Division of Elementary and Secondary Education Fiscal Year 2014-2015 Final Student Growth Funding and Resulting Funding Adjustments, updated 7/30/15

Memo Information

Memo Number
FIN-16-005
Memo Date
7/14/2015
Memo Type
Regulatory
Unit
Fiscal & Administrative Services
Regulatory Authority
AR Code Ann. §§ 6-20-2301 et seq. and 6-23-501 et seq.
Response Required
NO
Attention
Charter Directors; Co-op Directors; Superintendents; Business Managers

Primary Contact Information

Memo Reference

No references available.

Memo Text

This Commissioner’s Memo provides information and two attachments addressing the final fiscal year 2014-2015 calculation of student growth funding. One attachment, Fiscal Year 2014-2015 Final Student Growth Funding and Resulting Funding Adjustments, includes the final fiscal year 2014-2015 student growth funding amounts and resulting adjustments to student growth and declining enrollment funding (payments and repayments). On this attachment, a positive adjustment number represents an additional amount due to the district and a negative adjustment number represents an amount the district owes to the Department of Education (Department). See the last page of the first attachment for student growth funding calculations and adjustments for open-enrollment public charter schools. Under Ark. Code Ann. § 6-20-2305, by August 31, school districts shall repay amounts due to the Department and the Department shall remit amounts due to school districts. A letter will be mailed to each district required to repay, but those receiving a payment only (not required to repay) will not receive a letter. The second attachment, Journal Entries for Adjusting Fiscal Year 2014-2015 Revenue for Declining Enrollment and Student Growth Funding, provides journal entries required to account for fiscal year 2014-2015 funding adjustments to student growth and declining enrollment funding based on actual fiscal year 2014-2015 quarterly average daily membership as reported in cycle 7.

A final fiscal year 2014-2015 state aid notice to provide final student growth funding and resulting funding adjustments will be published (target publication date is on or before August 31, 2015) for both schools districts and open-enrollment public charter schools. For more information regarding student growth and declining enrollment funding, a review of the documents listed below may be helpful:
· Arkansas Department of Education Rules Governing the Calculation Methods for Declining Enrollment and Student Growth Funding for Public School Districts dated October 2009
· AR Code Ann. §§ 6-20-2301 et seq. and 6-23-501 et seq.
· Fiscal year 2014-2015 state aid notices

Direct any questions concerning the calculations to Cindy Hollowell at 501-682-4484, Vivian Roberts at 501-682-4486, or David Allison at 501-682-4494.

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