203.00.10 Ark. Code R. § 003 Aft 014: Rules Governing the Retirement and Termination of Bonded Debt Assistance, General Funding and Supplemental Millage Incentive Funding

• Library: Arkansas Administrative Code
• Edition: 2023
• Currency: Current through Register Vol. 48, No. 12, December, 2023
• Citation: 203.00.10 Ark. Code R. § 003
• Year: 2023

1.0 AUTHORITY

1.01 The authority for promulgating this Rule is pursuant to §§t 6Title6-20-2501 et seq. and 25Title25-15-201 et seq. and Act 1479 of 2009.

1.02 This Rule shall be known as the Arkansas Division of Public School Academic Facilities and Transportation (Division) Rule Governing Bonded Debt Assistance.

2.0 DEFINITIONS

2.01 "Academic facility" means a building or space, including related areas such as the physical plant and grounds, where students receive instruction that is an integral part of an adequate education as described in § 6Legislative findings6-20-2302. A public school building or space, including related areas such as the physical plant and grounds, used for an extracurricular activity or an organized physical activity course as defined in § 6Physical education credit for physical activity courses6-16-137 shall not be considered an academic facility for the purposes of this rule to the extent that the building space, or related area is used for extracurricular activities or organized physical activities courses, except for physical educational training and instruction under § 6Physical education6-16-132.

2.02 "Academic facilities wealth index" means a percentage derived from the following computations 2.02.1 Determine the value of one (1) mill per student in each school district, as follows 2.02.1.1 Multiply the value of one (1) mill by the total assessed valuation of taxable real, personal, and utility property in the school district as show by the applicable county assessment for the most recent year; and 2.02.1.2 Divide the product from § 2.02.1.1 of this section by the greater of the prior year average daily membership of the school district or the prior three-year average of the school district's average daily membership. 2.02.1.3 Determine student millage rankings by listing the computation under § 2.02.1.1 of this section for each school district from students with the lowest value per mill to students with the highest value per mill; 2.02.1.4 Allocate the student millage rankings into percentiles with the first percentile containing the one percent (1%) of students with the lowest value per mill and the one-hundredth percentile containing the one percent (1%) of students with the highest value per mill; and 2.02.1.5 Divide the value of one (1) mill per student in each school district as computed under § 2.02.1.1 of this section by the amount corresponding to the ninety-fifth percentile of the student millage rankings under § 2.02.1.4 of this section by the amount corresponding to the ninety-fifth percentile of the student millage rankings under subdivision § 2.02.1.4 of this section. 2.02.1.6 The percentage derived from the computation under §2.02.1.5 of this section is the academic facilities wealth index for a school district, which shall be computed annually and used to determine the amount of the school district's share of financial participation in a local academic facilities project eligible for state financial participation under priorities established by the division. 2.02.1.7 The state's share of financial participation in a local academic facilities project eligible for state financial participation under priorities established by the division is the percentage derived from subtracting the school district's percentage share of financial participation determined under § 2.02.1.6 of this section from one hundred percent (100%).

2.03 "Average daily membership" means the total number of days of school attended plus the total number of days absent by students in grades kindergarten through twelve (K-12) during the first three (3) quarters of each school year divided by the number of school days actually taught in the school district during that period of time rounded up to the nearest hundredth.

2.04 "Capital repair" means any repair to an academic facility and, if necessary, related areas such as the physical plant and grounds that brings the state of condition or efficiency of the academic facility to a state of condition or efficiency equal to the academic facility's original condition of completeness.

2.05 "Eligible school district" means any school district deemed to have existing bonded debt as of January 1, 2005, and said debt continues to exist each fiscal year the district qualifies for bonded debt financial assistance.

2.06 "Facility condition index" means a methodology established by the division for comparing the cost of repairing the condition of a public school academic facility to the cost of replacing the public school academic facility with a public school academic facility containing the same amount of square footage.

2.07 "Foundation funding" means an amount of money specified by the General Assembly for each school year to be expended by school districts for the provision of an adequate education for each student as that amount is established in § 6School funding6-20-2305.

2.08 "Funding factor" means a funding factor per average daily member ship determined by the Division for each fiscal year pursuant to § 6Bonded debt assistance6-20-2503(3)(A)(iii)(a) and (b).

2.09 "Immediate repair project" means a project involving a public school academic facility that is necessary to resolve a deficiency that presents an immediate hazard to 2.09.1 The health or safety of students teachers, administrators or staff; 2.09.2 The integrity of the public school academic facility with regard to meeting minimum health and safety standards; or 2.09.3 The extraordinary deterioration of the public school academic facility.

2.10 "Local enhancements" means the portion of any maintenance, repair, or renovation project or new construction project that is designed to bring an academic facility or related areas such as the physical plant or grounds to a state of condition or efficiency that exceeds state academic facilities standards.

2.11 "Local resources" means any moneys lawfully generated by a school district for the purpose of funding the school district's share of financial participation in any academic facilities project for which a school district is eligible to receive state...