1996 Alaska Statutes
TITLE 14 EDUCATION, LIBRARIES, AND MUSEUMS
Chapter 14.17. FINANCING OF PUBLIC SCHOOLS
Article 03 PROCEDURE FOR PAYMENT OF PUBLIC SCHOOL FOUNDATION FUNDS TO DISTRICTS
Sec. 14.17.170. Distribution of state foundation aid.

(a) The department shall determine the state foundation aid for each school district in a fiscal year on the basis of the district's data reported under AS 14.17.160 for the counting period that makes the district eligible for the greatest number of instructional units. On or before the 15th day of each of the first nine months of each fiscal year, 1/12 of each district's state foundation aid shall be distributed on the basis of the data reported for the preceding fiscal year. On or before the 15th day of each of the last three months of each fiscal year, one-third of the balance of each district's state foundation aid shall be distributed, after the balance has been recomputed on the basis of student count and other data reported for the current fiscal year.

(b) If a district receives more state aid money than it is entitled to receive under this chapter, it shall immediately remit the amount of overpayment to the commissioner, to be returned to the public school foundation account. Upon an adequate showing of a cash flow shortfall, and in the discretion of the commissioner, the department may make advance payments to a school district. The total of advance payments may not exceed the amount of state foundation aid for which the district is eligible for the fiscal year.