This is not the official budget document.

Budget Summary FY2016

70610011 - Foundation Reserve One Time Assistance
Data Current as of:  8/19/2015





Account Description FY2015
Spending
FY2016
GAA
7061-0011 Foundation Reserve One Time Assistance
For a reserve to: (i) provide extraordinary relief to school districts experiencing substantial shortfalls between Chapter 70 aid and target Chapter 70 aid in Section 3 of this Act; provided, that districts eligible for funding under clause (i) shall fall below their target Chapter 70 aid by more than $1,250,000 and their target Chapter 70 aid percentage by more than 2 percentage points, as set forth in said Section 3; provided further, that funds distributed from this item, under clause (i), shall be considered prior year chapter 70 aid for fiscal year 2017; and (ii) to mitigate costs for districts experiencing significant and sustained student enrollment growth; provided further, that districts eligible for funding under clause (ii) shall have experienced, between October 2012 and October 2014, two consecutive years of positive enrollment growth averaging 300 additional students per year and 2% yearly growth in enrollment, while receiving less than $8,750 per student in Chapter 70 aid under said Section 3; provided further, that funds distributed from this item, under clause (ii), shall not be considered prior year aid and the funds shall not be used in the calculation of the minimum required local contribution for fiscal year 2016; and (iii) to provide extraordinary relief to school districts in which special education costs exceed 30 per cent of the total district costs and in which tuition and other circuit-breaker eligible costs for placements at an approved private school located within the district exceed both $1,000,000 and 25 per cent of all tuition and other circuit-breaker eligible costs for placements at approved private schools; provided further, that funds distributed from this item shall not be considered prior year aid and shall not be used in the calculation of the minimum required local contribution for fiscal year 2016; provided further, that not less than $1,000,000 shall be expended for the purposes of clause (i); provided further, that not less than $1,000,000 shall be expended for the purposes of clause (ii); provided further, that not less than $500,000 shall be expended for the purposes of clause (iii); provided further, that only municipalities with target local shares less than 82.5% in said Section 3 shall be eligible for funding under clauses (i) and (ii) of this item; and provided further, that the department shall make at least 80 per cent of the funds available for awards on or before October 15, 2015
500,000 2,500,000