Bill No.:         SF0004                                               Drafter: DRN

LSO No.:       14LSO-0167                                     Effective Date: 7/1/2014

Enrolled Act No.:    SEA0032

Chapter No.:                        CH0095

Prime Sponsor:       Joint Education Interim Committee

Catch Title:              School finance-local resources.

Subject:                     Exempts certain revenues from inclusion in local resource calculation by school districts.

Summary/Major Elements:

· The act modifies the local resource revenue calculation under the education resource block grant model by excluding the amounts received by a school district in relation to postsecondary education programs provided under W.S. 21-20-201 (Wyoming Postsecondary Education Options Program).

· The financial agreements on the flow of funding between the school district and the postsecondary institutions vary by school district.  However, in many instances, funding is passed through to school districts from postsecondary institutions or Boards of Cooperative Education Services in the form of tuition or revenues that offset dual and concurrent expenditures.

· Previously, school districts were required to include any amount received in relation to postsecondary education programs provided under W.S. 21-20-201 for purposes of calculating the district’s local resources.  Requiring the school districts to record the payments as revenues made the payment count as a local resource revenue and either decreased the school district’s entitlement amount or increased the recapture amount.

· The act allows school districts to accurately report revenues in support of dual and concurrent options programs without impacting the funding of a school district’s local resource revenue amount.  Additionally, this allows the department of education to eliminate the current data collection report used to gather dual and concurrent fiscal information.