The department of education shall annually compute capacity aid funds to school districts, as follows:
(A) For each school district, multiply the district's three-year average valuation by 0.001;
(B) Determine the median amount of all of the amounts calculated under division (A) of this section;
(C) Calculate each school district's capacity ratio, which equals the greater of zero or the amount calculated as follows:
(The amount determined under division (B) of this section / the amount calculated for the district under division (A) of this section) - 1
If the result of a calculation for a school district under division (C) of this section is greater than 2.5, the district's capacity ratio shall be 2.5.
(D) Calculate the capacity aid per pupil amount, which equals the following quotient:
(The amount determined under division (B) of this section) / (the average of the formula ADMs of all of the districts for which the amount calculated under division (A) of this section is less than the amount determined under division (B) of this section)
(E) Calculate each school district's capacity aid, which equals the following product:
The capacity aid per pupil amount calculated under division (D) of this section X the district's formula ADM X ( 2.75, for fiscal year 2016, or 3.5, for fiscal year 2017) X the district's capacity ratio calculated under division (C) of this section
Amended by 131st General Assembly File No. TBD, HB 64, ยง101.01, eff. 9/29/2015.
Section: Previous 3317.0211 3317.0212 3317.0213 3317.0214 3317.0215 3317.0216 3317.0217 3317.0218 3317.03 3317.031 3317.032 3317.033 3317.034 3317.034-2 3317.035 NextLast modified: October 10, 2016