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Arizona School Finance Module II: Outside the RCL

Arizona School Finance Module II: Outside the RCL. Recap of Module I. Total Weighted Student Count Base Support Level TSL/TRCL Revenue Control Limit CORL/SCA Equalization Assistance.

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Arizona School Finance Module II: Outside the RCL

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  1. Arizona School Finance Module II: Outside the RCL

  2. Recap of Module I • Total Weighted Student Count • Base Support Level • TSL/TRCL • Revenue Control Limit • CORL/SCA • Equalization Assistance

  3. Arizona School FinanceEpisode II: Outside the RCLThe State Equalization Formula created equality by lowering all Districts to the same inadequate funding levels. This limited the ability to show support for your school district by funding it to the level necessary to provide a high quality education.It is for that reason that it was necessary to go Outside the Revenue Control Limit!

  4. Arizona School FinanceEpisode II: Outside the RCLThe State Equalization Formula created equality by lowering all Districts to the same inadequate funding levels. This limited the ability to show support for your school district by funding it to the level necessary to provide a high quality education.It is for that reason that it was necessary to go Outside the Revenue Control Limit!

  5. Budget Capacity The amount of money available to spend regardless of the cash balance.

  6. Budget Balance Carry Forward The amount of unspent Budget Capacity that exist in a fund at the end of the fiscal year that can be rolled forward into the next year.

  7. Budget Submissions • July 5th – Proposed Budget • July 15th – Adopted Budget • December 15th – Budget Revision • May 15th – Final Budget Revision • October 15th – Annual Financial Report

  8. Time for the numbers… • Maintenance and Operation (M&O) • Unrestricted Capital • Soft Capital Allocation • Bonds • Adjacent Ways

  9. Maintenance & Operations (M&O) – The General Fund • Revenue Control Limit (RCL) • Capital Outlay Revenue Limit (CORL) • M&O Override • Budget Balance Carry Forward • Career Ladder Carry Forward • Adjustments

  10. Unrestricted Capital • Revenue Control Limit (RCL) • Capital Outlay Revenue Limit (CORL) • Capital Override • Budget Balance Carry Forward • Interest Earned • Adjustments

  11. Soft Capital Allocation • Soft Capital Allocation • Budget Balance Carry Forward • Interest Earned • Adjustments

  12. State Aid Payments • APOR 64-1 • Monthly Payment Amount • Legislative Reductions • Rollover Payments • Additional State Aid • Monthly Payment Schedule, except: • No July Payment • 2 June Payments

  13. Bonds • Limitations • As Authorized by Voters • Constitutional Debt Limit • Statutory Debt Limit • Impacts Secondary Levy based on repayment schedule

  14. Adjacent Ways • Impacts Primary Levy • Used to establish safe egress and ingress from school

  15. Questions?

  16. Test Time • Open Book • Use your notes • Don’t use your neighbors • 20 Questions • 20 Minutes

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