Arkansas Administrative Code
Agency 005 - DEPARTMENT OF EDUCATION
Division 04 - Financial Services **
Rule 005.04.97-004 - Proposed Rules and Regulations Governing the Distribution of Isolated Funding
Universal Citation: AR Admin Rules 005.04.97-004
Current through Register Vol. 49, No. 2, February 2024
1.00 Regulatory Authority
1.01 These
regulations shall be known as Arkansas Department of Education Regulations
governing the distribution of funding to Isolated School Districts in
accordance with Act 1381 of 1997 and Arkansas Code Annotated §
6-20-303(17) as amended by Section 2 (17) of Act 1307 of 1997.
1.02 These regulations are enacted pursuant
to the State Board of Education's authority under Arkansas Code Annotated
§
6-11-105 (Repl.
1993) and 6-20-305 (1995 Supp.).
2.00 Purpose
2.01 It is the purpose of these regulations
to establish criteria by which a school district may choose the basis for
calculation of the district's isolated funding and to establish a isolated
funding factor.
3.00 Definitions
3.01 Isolated
Funding - The state financial aid provided to local school districts with an
average daily membership of less than three hundred fifty (350) from funds made
available for that purpose.
3.02
Isolated Funding Factor - A factor calculated by dividing the isolated funding
by the total amount qualifying school districts would be eligible to receive
based on the calculation of aid as defined by law.
4.00 Selection of Method of Calculation
4.01 School districts with
an ADM of less than 350 will not be required to apply for isolated funding as
established by Arkansas Code Annotated § 6-20-303(17) as amended by
Section 2 (17) of Act 1307 of 1997.
4.02 School districts which may elect to
qualify for isolated funding as provided in Act 1318 of 1997 shall apply to the
Department of Education.
5.00 Application for Aid
5.01 School districts applications to qualify
for isolated funding, in accordance with Act 1318 of 1997, shall be on forms
provided by the Arkansas Department of Education.
5.02 Applications to qualify for isolated
funding are due by May 15, preceding the school year for which Isolated Funding
is to be provided.
5.03 The
Department of Education shall review all applications for isolated status to
determine compliance with all eligibility criteria.
6.00 Funding Distribution
6.01 Isolated funding shall be calculated as
defined by law.
6.02 Funds shall be
distributed by multiplying each qualifying school district's isolated funding
by the Isolated Funding Factor.
Disclaimer: These regulations may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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