This is not the official budget document.

Budget Summary FY2014

70610011 - FOUNDATION RESERVE ONE TIME ASSISTANCE
Data Current as of:  9/11/2013





Account Description FY2013
Spending
FY2014
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 under this item 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 the application; provided further, that not less than $1,000,000 shall be expended to mitigate costs for districts: (a) that experience foundation enrollment growth of greater than 325 pupils from fiscal year 2013 to fiscal year 2014; and (b) whose chapter 70 aid as a percentage of total foundation budget is less than the district's target aid percentage; and provided further, that no funds distributed from this item shall be considered prior year chapter 70 aid nor shall the funds be used in the calculation of the minimum required local contribution for fiscal year 2015
1,000,000 2,000,000