Current through Register Vol. 51, page 43, September 23, 2024
The postsecondary technical institutes colleges shall
receive state funding, from the amount appropriated by the Legislature less
funds reserved in §
24:59:02:02, under a formula that
distributes these funds based on full-time equivalent students as
follows:
(1) Subtract the total
set-asides reserved in §
24:59:02:02 from the total amount
appropriated by the Legislature within the general appropriations act for
operating expenses;
(2) Determine
the number of full-time equivalent students at each institution college for the
preceding fiscal year using the following calculation:
(a) One "full-time equivalent student" equals
30 credit hours of instruction;
(b)
The number of full-time equivalent students for a college institution is
calculated by dividing tuition collected revenue for the preceding fiscal year
by program as per chart of accounts prescribed within the South Dakota School
District Accounting Manual by the tuition fee per credit and the quotient is
divided by 30 credit hours;
(3) Multiply the number of full-time
equivalent students at each institution college by the per student allocation
to determine the total allocation for the distribution formula. The
distribution formula is as follows:
(a) "Per
student allocation," for school fiscal year 2020 is $3,610.32 is an amount set
by the South Dakota Board of Technical Education, taking into account the
available operating funds and the anticipated number of full-time equivalent
students;
(b) Twenty-five percent
(25%) of the total allocation will be distributed equally among the four
institutions colleges as a baseline for common operations at each technical
institute college. The funds shall be divided by four (4);
(c) Seventy-five percent (75%) of the total
allocation will be distributed within three program categories: high cost-low
density programs, high cost programs, and standard cost programs. The funds
shall be distributed by determining each program's full-time equivalent
students, multiplied by the weighted program factor multiplied by the weighted
per student value;
(d) The
executive director will identify the weighted program factor of each program
documented on the South Dakota School District Accounting Manual;
(e) The weighted per student value is
determined by the allocation divided by adding the total high cost-low density
program's full-time equivalent students multiplied by a weighted program
factor, plus the total high cost program's full-time equivalent students
multiplied by a weighted program factor, plus the total standard cost program's
full-time equivalent students by a weighted program factor.
General Authority: SDCL
13-39A-18,
13-39A-21.
Law Implemented: SDCL
13-39A-18,
13-39A-21.
