This is not the official budget document.

Budget Summary FY2013

70610011 - Foundation Reserve One Time Assistance
Data Current as of:  7/7/2012





Account Description FY2012
Spending
FY2013
GAA
7061-0011 Foundation Reserve One Time Assistance
For a reserve to meet extraordinary increases in the minimum required local contribution of a municipality under the requirements of section 3; provided, that a municipality seeking funds hereunder shall apply for a waiver from the department of revenue under section 168; provided further, that the commissioner shall issue a finding concerning such waiver applications within 30 days of the receipt thereof, after consulting with the commissioner of elementary and secondary education, regarding the merits of such application; provided further, that funds may be expended to assist school districts whose target aid percentage exceeds that district's chapter 70 aid as a percentage of foundation by 5 percentage points or greater; provided further, that funds may be expended to assist districts with behavioral treatment residential student placements; provided further, that funds shall be expended to assist districts with foundation enrollment growth of greater than 250 pupils between fiscal year 2012 preliminary foundation enrollment calculations and updated fiscal year 2012 foundation enrollment calculations; and provided further, that no funds distributed from this item shall be considered prior year chapter 70 aid nor shall they be used in the calculation of the minimum required local contribution for fiscal year 2014

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Veto Explanation:   I am vetoing this item because the funding is not necessary given other related investments in Fiscal Year 2013.