SchoolAidReductions-1

2009-10StateAidProjectionsGapEliminationAdjustment

2009-10TotalAid:Thisisthesum

of

thefollowingaids:Foundation,FullDayKindergarten,BOCES,SpecialServices,HighCostExcessCost,PrivateExcessCost,Hardware

&

Technology,Software,LibraryMaterials,Textbook,Transportation(includingSummer),OperatingReorganizationIncentive,CharterSchoolTransitional,SupplementalEducationImprovementPlan,AcademicAchievement,AcademicEnhancement,HighTaxandSupplementalPublicExcessCost,BuildingandBuildingReorganizationIncentive,EXCELDebtService

and

UniversalPrekindergarten.Building+BldgReorgIncent:Aidablebuildingexpensesareforcapitaloutlay,leases,certaincapitaloutlayexceptions,certainrefinancingcostsandanassumeddebtservicepaymentbasedontheusefullife

of

theprojectandanaverageinterestrate.BuildingAidisequaltotheproduct

of

the

estimatedapprovedbuildingexpensesmultipliedbythehighest

of

the1981-82throughtheCurrentAV/RWADAAidRatio.ForprojectsapprovedonorafterJulyI,2000,expensesaremultipliedbythehigher

of

theBuildingAidRatiousedfor

1 9 9 9 ~ 0 0

aidless.10ortheCurrentAV/RWADAAidRatioor,foreligibleprojects,thelowincomeaidratio.ForprojectsapprovedonorafterJuly

I,

2005forhighneed/resource-capacitydistricts,expensesaremultipliedby0.05multipliedbythesameaidratiousedforprojectsapprovedonorafterJuly

I,

2000,howeverreimbursementislimitedto

98

percent,includingtheincentive

of

upto10percent.Upto

10

percent

of

additionalbuildingaidisprovidedforprojectsapprovedonorafterJuly

I,

1998.Fordistrictsthathavereorganized,ReorganizationIncentiveBuildingAidisincluded

.as

inpermanentlaw.Aidisnotestimatedforthoseprospectiveanddeferredprojectsthathadnotfullymetalleligibilityrequirements

as

of

theNovember2008·database.EXCELDebtService

(NYC):

Theamountexpectedtobepaidin2009-10tosupportdebtservicerelatedtocapitalconstructionforExpandingourChildren'sEducationandLeaming(EXCEL).

In

the2006-07StateBudget$2.6billion($1.8billionforNewYorkCity)wasmadeavailablethroughtheEXCELprogram.UniversalPrekindergarten:Statefundingfor2009-10UniversalPrekindergartendistrictprogramsstatewide.2009-10Totalw/oBl,EXL,UPK:ThisisTotalAidexcludingBuildingandBuildingReorganizationIncentive,EXCELDebtServiceandUniversalPrekindergarten.

2009-10AidforAdjustment:ThisTotalAidexcludingBuildingandBuildingReorganizationIncentive,EXCEL

Debt

ServiceandUniversalPrekindergartenisthemultiplier

in

thefollowingcalculations.

A.

-1.95%

of

AidsforAdjt:Theproduct

of

-1.95percentmultiplied

by

adistrict's200910AidsforAdjustment.3-YearFRPLRatio:Thisisathree-yearaveragecomputedas:(a)thenumber

ofK-

6publicschoolpupils

in

thedistrictwhowereeligibleapplicantsfortheFreeandReduced-PriceLunchProgramas

of

October2005,2006and2007.dividedby(b)thefulldayK-6enrollment

of

pupilsonaregulardayschoolregisterasreported

in

theFall2005,2006and2007BasicEducationDataSystem(BEDS).08-09PublicEnrollment.:TheFall2008pUblicschoolenrollmentforStateAid.whichincludesEquivalentAttendance,studentswithdisabilitiesattendingBOCESfulltimeandcharterschoolenrollment.

It

doesnotincludestudents.withdisabilitiesattendingprivateandStateoperatedschools(Rome

&

.Batavia).

B.

FormulaReduction:Theresult

of

-$361.00multiplied

by

1.0minusadistrict'sthreeyearK-6freeandreducedpricelunchpercentageforFoundationAidwiththeresultmultiplied

by

adistrict'sCombinedWealth.RatioforFoundationAidmultiplied

by

2008-09PublicEnrollment.A

+

B

<

=

AidsforAdjt:Thesum

of

A

+

Bcannot

be

morethanthe2009-10AidsforAdjustment.

C.

Reduction-3%to-9%:Theminimumreductionis

-3

percentmultiplied

by

adistrict's2009-10AidsforAdjustment.Themaximumreductionis-9percent.Reductionas%Aids:.ThereductioninCisdividedbythe2009-10AidsforAdjustmentandmultipliedby100,FACWR:TheFoundationAidCombinedWealthRatio

(F

ACWR)isequalto:

(.5"

Set

ActualValuation/2007-08TWPU)

+

(.5"

Set

Adj

Income/2007-08

TWPU)$505,100$157,000TaxEffortRatioas%:Thedistrict's2006ResidentialTax

Levy

wi

Condominiums.dividedbytheir2006AdjustedGrossmcome,multipliedby100tobeexpressedasapercent.(TheStateaverageis2.655percent.)

-9%I

(Ratio:TER/3.5%):FordistrictswithaTaxEffort·Ratiogreaterthan3.5percentandaCombinedWealthRatioforFoundationAidlessthan4.00,theresult

of

-9percentdivided

by

thequotient

of

thedistrict'sTaxEffort

Ratiodivided

by

3.5percent,butnotlessthan-4percentnormorethan

-9

percent.D.TaxEffortRedn-4%

to

-9%:Thereductionpercentimmediatelyabovemultiplied

by

2009-10AidsforAdjustment.Themaximumreductionis-9percent;theminimumreductionis-4percent.Reductionas

%

aids:

Th}l

reductioninDisdivided

by

the2009-10AidsforReductionandmultiplied

by

100.

E.

Lesser

ofC

orD:

ThepreliminaryGapEliminationAdjustmentisthelesser

ofC

orD.HighNeed

<

5:

If

theNeed/Resource-CapacityCategorycodeislessthan

5,

thedistrictishighneedrelative

to

itsfiscalcapacity.2008

c

09TGFE(Est):Estimated2008-09publicschooldistrictTotalGeneralFundExpenditures(TGFE)asreportedintheST-

3.

GapEliminationAdjustment:

If

thedistrictishighneed,theGapEliminationAdjustmentcannotexceed-1.4percent

of

theestimated2008-09TGFE.Otherwise,theGEAisthesameas

E.

GEA

as

%

FonnulaTotal:GapEliminationAdjustmentdivided

by

2 0 0 9 ~ 1 0

AidsforAdjustmentmultipliedby100.Themaximumreductionis-9percent.GEAasPercentTGFE:GapEliminationAdjustmentdivided

by

theestimated2008-09TotalGeneralFundExpendituresmultipliedby

100.

2009

c

lO

Total

w/o

Bl,EXL,UPKbutwithGEA:ThisisTotalAidexcludingBuildingandBuildingReorganizationIncentive,EXCELDebtServiceandUniversalPrekindergartenplustheGapEliminationAdjustment.2009-10TotalAidwithGEA:ThisisTotalAidincludingtheGapEliminationAdjustment.