2009 Nebraska Code
Chapter 79 SCHOOLS
79-1026.01 School fiscal year 2008-09 and subsequent fiscal years; applicable allowable growth rate; determination; target budget level.

79-1026.01. School 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 March 10, 2010, on or before April 1, 2011, and on or before March 1 of each year thereafter, 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 district's formula need and end at the school district's 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 district's 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 district's 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 district's general fund operating expenditures are greater than the higher end of the range, the school district's allowable growth rate shall be the basic allowable growth rate identified in such section. If each school district's 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;
Laws 2009, LB61, § 3;
Laws 2009, LB545, § 17;
Laws 2009, LB548, § 3;
Laws 2010, LB711, § 4;
Laws 2010, LB1071, § 21.
Note: The Revisor of Statutes has pursuant to section 49-769 correlated LB711, section 4, with LB1071, section 21, to reflect all amendments.
Note: Changes made by LB711 became effective February 26, 2010. Changes made by LB1071 became operative April 15, 2010.