Alabama Administrative Code
Title 290 - ALABAMA STATE BOARD OF EDUCATION
Chapter 290-2-1 - APPORTIONMENT OF FUNDS
Section 290-2-1-.04 - Annual Apportionment Of Public School Funds

Universal Citation: AL Admin Code R 290-2-1-.04

Current through Register Vol. 42, No. 11, August 30, 2024

The Public School Fund (PSF) shall be apportioned each year to provide funds for capital improvements of public school facilities in accordance with Ala. Acts 95-314, 2013-264, and as hereinafter provided:

(1) Capital Improvement Funds. The PSF shall be apportioned on the basis of a distribution method that uses the ability of the local board to raise local revenues, has a variable matching scale and guarantees each local board will receive the same amount per pupil (ADM) in matched funds.

(a) The ability of the local board shall be defined as the yield of one mill of district ad valorem tax per pupil based on the prior year's financial data and prior year's first 20 scholastic days following Labor Day ADM.

(b) The allotment of PSF funds for capital improvements shall be on the basis of a guaranteed tax yield calculation matched to 2 times the maximum yield per mill per ADM. The number of mills guaranteed will depend on the amount of PSF available after the set aside in (1) above.
1. If Z is the number of guaranteed mills, M is the maximum yield per mill over all local boards, Y is the yield per mill per ADM for a local board, and A is the prior year first 20 scholastic days following Labor Day ADM, the local board shall receive (Z*(2M-Y)* A) state PSF funds and must match with (Z*Y*A) local funds. The local matching funds may be used as debt service. PSF Capital Improvement Funds may be used to service a debt for capital improvements.

2. PSF Capital Improvement Funds must be for capital improvements as identified in Alabama Legislative Act No. 2011-163.

Author: Ed Richardson

Statutory Authority: Code of Ala. 1975, §§16-13-50et seq.; Ala. Acts 95-313 and 95-314.

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