Utah Admin. Code R277-485-4 - Funding
(1) The Superintendent shall allocate funding
to an eligible district under Subsection
R277-485-3(1)
using the unencumbered MSP carryforward balance.
(2) The Superintendent may only award funds
to a district under this rule after all other authorized uses of the
carryforward balance have been carried out.
(3) The total amount of funds made available
for distribution shall be equal to the lesser of:
(a) the sum of lost ADM in eligible districts
multiplied by 25 percent of the current year value of the WPU; or
(b) 25 percent of the current unencumbered
MSP carryforward balance.
(4) The Superintendent shall distribute
available funds in proportion to lost ADM (90 percent) and prior year local
effort (10 percent) among eligible districts.
(5) The Superintendent may not fund an
eligible district if there are not any current year unencumbered MSP
funds.
(6) The Superintendent shall
distribute funds annually in one lump sum with the mid-year update of the
current year MSP.
Notes
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