Commissioner's Newsletter
| DATE: April 9, 2004
TO: School Administrators FROM: D. Kent King Re: Good News Governor Holden announced today (April 9) that he is releasing all of the remaining funds that had been withheld from elementary and secondary education for the current year. This amounts to approximately $115 million in state funding for Foundation Formula, Line 14, transportation and gifted aid. The governor also released about $12 million in funds for higher education institutions. Since our staff has already processed the request for payment for April, we will not include these released funds with this month's payment. As a result, the additional funds will be included in districts’ May and June payments. We have prepared a funding projection that estimates how much additional money each district will receive in Basic Formula and Line 14 aid. This report is based on your actual March payment and shows the addition of the withheld funds. With the released funds, transportation aid will be prorated at approximately 76%. At this point, we do not have an estimate of how the released funds will affect each district’s gifted aid. We hope this information assists you with your year-end budget work. |
Funding projection (.pdf file.) or Funding projection (.htm file) |
