2006 Nebraska Revised Statutes - § 79-1026.01 — School fiscal year 2008-09 and subsequent fiscal years; applicable allowable growth rate; determination; target budget level.
Section 79-1026.01School fiscal year 2008-09 and subsequent fiscal years; applicable allowable growth rate; determination; target budget level.
For school fiscal year 2008-09 and each school fiscal year thereafter, on or before February 1, the department shall determine and certify to each Class II, III, IV, or V district an applicable allowable growth rate carried out at least four decimal places as follows:
(1) The department shall establish a target budget level range of general fund operating expenditure levels for each school fiscal year for each school district which shall begin at twenty percent less than the school districtâs formula need and end at the school districtâs formula need. The beginning point of the range shall be assigned a number equal to the maximum allowable growth rate established in section 79-1025, and the end point of the range shall be assigned a number equal to the basic allowable growth rate as prescribed in such section such that the lower end of the range shall be assigned the maximum allowable growth rate and the higher end of the range shall be assigned the basic allowable growth rate; and
(2) For each school fiscal year, each school districtâs general fund operating expenditures shall be compared to its target budget level along the range described in subdivision (1) of this section to arrive at an applicable allowable growth rate as follows: If each school districtâs general fund operating expenditures fall below the lower end of the range, such applicable allowable growth rate shall be the maximum growth rate identified in section 79-1025. If each school districtâs general fund operating expenditures are greater than the higher end of the range, the school districtâs allowable growth rate shall be the basic allowable growth rate identified in such section. If each school districtâs general fund operating expenditures fall between the lower end and the higher end of the range, the department shall use a linear interpolation calculation between the end points of the range to arrive at the applicable allowable growth rate for the school district.
Source:
- Laws 2006, LB 1024, § 89.
~Revised Statutes Cumulative Supplement, 2006
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