20-A §15689-C. Commissioner's recommendation for funding levels; computations
Title 20-A: EDUCATION
Part 7: SCHOOL FINANCE
Chapter 606-B: ESSENTIAL PROGRAMS AND SERVICES HEADING: PL 2001, C. 660, §1 (NEW)
§15689-C. Commissioner's recommendation for funding levels; computations
1. Annual recommendation. Prior to December 15th of each year, the commissioner, with the approval of the state board, shall recommend to the Governor and the Department of Administrative and Financial Services, Bureau of the Budget the funding levels that the commissioner recommends for the purposes of this chapter. Beginning with the recommendations due in 2009, the commissioner’s annual recommendations must be in the form and manner described in subsection 4.
[ 2009, c. 275, §1 (AMD) .]
2. Funding level computations. The following are the funding level computations that support the commissioner's funding level recommendations:
A. The requested funding levels for the operating allocation under section 15683; [2005, c. 2, Pt. D, §§72, 74 (AFF); 2005, c. 2, Pt. D, §61 (NEW); 2005, c. 12, Pt. WW, §18 (AFF).]
B. The requested funding levels for debt service under section 15683-A, which are as follows:
(1) The known obligations and estimates of anticipated principal and interest costs for the allocation year;
(2) The expenditures for the insured value factor for the base year;
(3) The level of lease payments and lease-purchase payments pursuant to section 15672, subsection 2-A for the year prior to the allocation year; and
(4) Funds allocated by the state board for new school construction projects funded in the current fiscal year; [2005, c. 2, Pt. D, §§72, 74 (AFF); 2005, c. 2, Pt. D, §61 (NEW); 2005, c. 12, Pt. WW, §18 (AFF).]
C. The requested funding levels for adjustments under section 15689, which must be computed by estimating costs for the allocation year; and [2005, c. 2, Pt. D, §§72, 74 (AFF); 2005, c. 2, Pt. D, §61 (NEW); 2005, c. 12, Pt. WW, §18 (AFF).]
D. The requested funding levels for miscellaneous costs under section 15689-A. [2005, c. 2, Pt. D, §§72, 74 (AFF); 2005, c. 2, Pt. D, §61 (NEW); 2005, c. 12, Pt. WW, §18 (AFF).]
[ 2005, c. 2, Pt. D, §§72, 74 (AFF); 2005, c. 2, Pt. D, §61 (NEW); 2005, c. 12, Pt. WW, §18 (AFF) .]
3. Guidelines for updating other subsidizable costs. The commissioner's recommendation for updating percentages to bring base year actual costs to the equivalent of one-year-old costs may not exceed the average of the 2 most recent percentages of annual increase in the Consumer Price Index.
[ 2005, c. 2, Pt. D, §§72, 74 (AFF); 2005, c. 2, Pt. D, §61 (NEW); 2005, c. 12, Pt. WW, §18 (AFF) .]
4. Guidelines for updating adjustments and miscellaneous costs. The commissioner's recommendations regarding the adjustments and miscellaneous costs components as set forth in subsection 2 also must delineate each amount that is recommended for each subsection and paragraph under sections 15689 and 15689-A and the purposes for each cost in these sections. For each amount shown in the commissioner's recommendations, the commissioner's recommendation must also show the amount for the same component or purpose that is included in the most recently approved state budget, the differences between the amounts in the most recently approved state budget and the commissioner's recommendations and the reasons for the changes.
[ 2009, c. 275, §2 (NEW) .]
SECTION HISTORY
2005, c. 2, §§D72,74 (AFF). 2005, c. 2, §D61 (NEW). 2005, c. 12, §WW18 (AFF). 2009, c. 275, §§1, 2 (AMD).