A school district that on June 30, 2012, has a national school lunch state categorical funding balance in excess of fifteen percent (15%) of the school district's current year annual national school lunch state categorical funding allocation shall reduce its total national school lunch state categorical funding balance by at least ten percent (10%) each year so that by June 30, 2022, and by June 30 of each year thereafter, the school district has a balance of no more than fifteen percent (15%) of the school district's current year annual national school lunch state categorical funding allocation.
In the attachment 15% NSLA Fund Balance, the column "15% of Total NSLA Funds" reflects 15% of the school district's current year (11-12) national school lunch state categorical funding allocation.
The data supporting the amount in column "District NSLA Fund Balance March 31, 2012" is provided in the attachment FY12 NSLA Fund Blc thru March 31, 2012, and includes all expenditures coded to Source of Funds 1281 and 2281.
The column "Fund Balance Versus 15% of NSLA Funds" is the difference in the first two columns.
The attachment Fifteen Percent of NSLA Funds Example is provided to assist in projecting the June 30, 2013, NSLA Fund Balance.
This information is provided to assist in gauging your progress towards compliance with Act 1220. We fully recognize there are three more months of expenditures that will be used in the final calculation of this requirement. If you make budget changes to reduce your NSLA Fund balance, please be sure to update the ACSIP also.
Data Sources:
"15% of Total NSLA Funds" is 15% of the sum of NSLA, NSLA Transitional, and NSLA Growth funds times 85%. This data is reported on the State Aid Notice 2011-2012 Preliminary, as of February 29, 2012, as published on the ADE website: http://arkansased.org/about/pdf/reports/STAIDFINAL%202011-12%2002%2029%2012.pdf
The data used in "District NSLA Fund Balance March 31, 2012" is available in the attached spreadsheet: FY12 NSLA Fund Blc thru March 31, 2012.
Act 1220 of 2011 is codified at Ark. Code Ann. §6-20-2305(b)(4)(F)(i) and is attached.