Current through Bulletin 2024-06, March 15, 2024
(1) An LEA shall
report the prior year expenditure of distributions for each school.
(2) The total expenditures each year
described in Subsection (1) may not be greater than the total available funds
for an LEA.
(3)
(a) In an unanticipated circumstance, a
school within an LEA may be allowed a small advance from a school's allocation
for the next fiscal year when:
(i) the LEA has
unspent School LAND Trust funds to cover the advance; and
(ii) the LEA governing board approves the
advance.
(b) If a school
receives an advance under Subsection (3)(a):
(i) the LEA shall decrease the beginning
allocation to the school for the next fiscal year in the same amount as the
advance; and
(ii) restore the same
advance amount to the unspent School LAND Trust funds of the LEA.
(c) A school's beginning School
LAND Trust funds balance for a new school year shall be:
(i) the school's allocation for the new
school year;
(ii) minus any advance
approved under Subsection (3)(a);
(iii) plus any carry-over from the prior
year.
(4) A
school district shall adjust the current year distribution of funds received
from the School LAND Trust program as described in Section
53F-2-404, as necessary to
maintain an equal per student distribution within a school district based on:
(a) school openings and closings;
(b) boundary changes; and
(c) other enrollment changes occurring after
the fall enrollment report.
(5) An LEA shall provide the current year
distribution and carry-over amount from the prior school year to the principal
by October 1 annually.
(6) A
charter school and each of the charter school's satellite charter schools are a
single LEA for purposes of public school funding.
(7)
(a) For
purposes of this section, "qualifying charter school" means a charter school
that:
(i) would receive more funds from a per
pupil distribution than the charter school receives from the base payment
described in Subsection (6)(c); and
(ii) is not a newly opening charter school as
described in Subsection (7).
(b) The Superintendent shall distribute the
funds allocated to charter schools as described in this Subsection
(7).
(c) The Superintendent shall
first distribute a base payment to each charter school that is equal to the
product of:
(i) an amount equal to the total
funds available for all charter schools; and
(ii) at least 0.4%.
(d) After the Superintendent distributes the
amount described in Subsection (6)(c), the Superintendent shall distribute the
remaining funds to qualifying charter schools on a per pupil basis.
(8)
(a) The Superintendent shall distribute an
amount of funds to a newly opening charter school that is either:
(i) the base payment described in Subsection
(7)(c); or
(ii) a per pupil amount
based on the newly opened charter school's projected October 1 enrollment
count.
(b)
(i) The governing board of a newly opening
charter school shall notify the Superintendent by March 1 preceding the
school's first year of operation, which option under Subsection (8)(a) the
school elects to receive.
(ii) If a
school fails to notify the Superintendent as required under Subsection (b)(i),
the school shall receive the base payment described in Subsection (6)(c) in the
school's first year of operation.
(c) The Superintendent shall increase or
decrease a newly opening charter school's first year distribution of funds in
the school's second year to reflect the newly opening charter school's actual
first year October 1 enrollment.
(9)
(a) The
Superintendent shall distribute an amount of funds to a newly opening satellite
school equal to the base payment described in Subsection (6)(c).
(b) The Superintendent shall increase or
decrease a newly opening satellite school's first year distribution of funds in
the school's second year to reflect the newly opening satellite school's actual
first year October 1 enrollment.
(10) The Superintendent shall deposit the
unused balance in the Trust Distribution Account if:
(a) a school chooses not to apply for
funds;
(b) a school does not meet
the requirements for receiving funds; or
(c) a school does not open as
scheduled.
