School Finance Terms
Terminology used within the current school finance system
A | B | C | D | E | F | G | H | I | J | K | L | M | N
O | P | Q | R | S | T | U | V | W | X | Y | Z
A
Adjusted general fund operating expenditures. General fund operating expenditures minus the transportation allowance and minus the special receipts allowance. [79-1003(1)]
Adjusted valuation. The assessed valuation of taxable property of each local system in the state and adjusted as follows:
- For real property other than agricultural and horticultural land, 100% of actual value;
- For agricultural and horticultural land, 80% of actual value and for agricultural and horticultural land that receives special valuation, 80% of special valuation; and
- For personal property, the net book value.
Adjusted valuation means the adjusted valuation for the property tax year ending during the school fiscal year immediately preceding the school fiscal year in which the aid based upon that value is to be paid. For purposes of determining the local effort rate yield, adjusted valuation does not include the value of any property that a court, by a final judgment from which no appeal is taken, has declared to be nontaxable or exempt from taxation. [79-1003(2)]
Allocated income tax funds. The amount of assistance paid to a local system as adjusted by the minimum levy adjustment. [79-1003(3)]
Average daily attendance of a student who resides on Indian land. Average daily attendance of a student who resides on Indian land from the most recent data available on November 1st preceding the school fiscal year in which aid is to be paid. [79-1003(4)]
Average daily membership. The average daily membership for grades kindergarten through twelve attributable to the local system, as provided in each district's annual statistical summary, and includes the proportionate share of students enrolled in a public school instructional program on less than a full-time basis. [79-1003(5)]
B
Base fiscal year. The first school fiscal year following the school fiscal year in which the reorganization or unification occurred. [79-1003(6)]
Board. The school board of each school district. [79-1003(7)]
C
Categorical funds. Funds limited to a specific purpose by federal or state law, including, but not limited to, Title I funds, Title VI funds, federal vocational education funds, federal school lunch funds, Indian education funds, Head Start funds, funds from the Education Innovation Fund, and funds from the School Technology Fund. [79-1003(8)]
Consolidate. To voluntarily reduce the number of school districts providing education to a grade group and does not include dissolution. [79-1003(9)]
Converted contract. An expired contract that was in effect for at least fifteen years for the education of students in a nonresident district in exchange for tuition from the resident district when the expiration of such contract results in the nonresident district educating students who would have been covered by the contract if the contract were still in effect as option students pursuant to the enrollment option program. [79-1003(10)]
Converted contract option students. Students who will be option students under the enrollment option program for the school fiscal year for which aid is being calculated and who would have been covered by a converted contract if the contract were still in effect and such school fiscal year is the first school fiscal year for which such contract is not in effect. [79-1003(11)]
D
Department. The State Department of Education. [79-1003(12)]
Dissolution. Action by the State Committee for the Reorganization of School Districts to dissolve a district and attach the territory to one or more neighboring school districts when, for a period of one school term, a school district: (1) has less than three legal voters residing in the district or (2)(a) fails to maintain a public elementary school within the district in which are enrolled and in regular attendance for at least one thousand thirty-two hours one or more pupils of school age residing in the district, other than option students, or (b) does not contract for the tuition and transportation of pupils of such district with another district or districts and have pupils attending school regularly for at least one thousand thirty-two hours under such contract or contracts. [79-498]
District. A Class I, II, III, IV, V, or VI school district. [79-1003(13)]
E
Ensuing school fiscal year. The school fiscal year following the current school fiscal year. [79-1003(14)]
Equalization aid. The amount of assistance calculated to be paid to a local system. [79-1003(15)]
F
Fall membership. The total membership in kindergarten through grade twelve attributable to the local system as reported on the fall school district membership reports for each district. [79-1003(16)]
Fiscal year. The state fiscal year which is the period from July 1 to the following June 30. [79-1003(17)]
Formula students. (a) for state aid certified pursuant to section 79-1022, the sum of fall membership from the school fiscal year immediately preceding the school fiscal year in which the aid is to be paid, multiplied by the average ratio of average daily membership to fall membership for the second school fiscal year immediately preceding the school fiscal year in which aid is to be paid and the prior two school fiscal years, and tuitioned students from the school fiscal year immediately preceding the school fiscal year in which the aid is to be paid and (b) for final calculation of state aid, the sum of average daily membership and tuitioned students from the school fiscal year immediately preceding the school fiscal year in which the aid was paid. [79-1003(18)]
Free lunch and free milk student. A student who qualified for free lunches or free milk from the most recent data available on November 1st of the school fiscal year immediately preceding the school fiscal year in which aid is to be paid. [79-1003(19)]
Full-day kindergarten. Kindergarten offered by a district for at least one thousand thirty-two instructional hours. [79-1003(20)]
G
General fund budget of expenditures. The total budget of disbursements and transfers for general fund purposes as certified in the budget statement adopted under the Nebraska Budget Act, except that for purposes of the limitation imposed in section 79-1023, the calculation of Class I total allowable general fund budget of expenditures minus the special education budget of expenditures pursuant to section 79-1083.03, and the calculation pursuant to subdivision (2) of section 79-1027.01, the general fund budget of expenditures does not include any special grant funds, exclusive of local matching funds, received by a district subject to the approval of the department. [79-1003(21)]
General fund expenditures. All expenditures from the general fund. [79-1003(22)]
General fund operating expenditures. The total general fund expenditures minus categorical funds, tuition paid, transportation fees paid to other districts, adult education, summer school, community services, redemption of the principal portion of general fund debt service, retirement incentive plans, staff development assistance, and transfers from other funds into the general fund for the second school fiscal year immediately preceding the school fiscal year in which aid is to be paid. [79-1003(23)]
H
High school district. A school district providing instruction in at least grades nine through twelve. [79-1003(24)]
I
Income tax liability. The amount of the reported income tax liability for resident individuals pursuant to the Nebraska Revenue Act less all nonrefundable credits earned and refunds made. [79-1003(25)]
Income tax receipts. The amount of income tax collected pursuant to the Nebraska Revenue Act less all nonrefundable credits earned and refunds made. [79-1003(26)]
L
Limited English proficiency student. A student with limited English proficiency from the most recent data available on November 1st of the school fiscal year preceding the school fiscal year in which aid is to be paid. [79-1003(27)]
Local system. A Class VI district and the associated Class I districts or a Class II, III, IV, or V district and any affiliated Class I districts or portions of Class I districts. The membership, expenditures, and resources of Class I districts that are affiliated with multiple high school districts will be attributed to local systems based on the percent of the Class I valuation that is affiliated with each high school district. [79-1003(28)]
Low-income child. A child under nineteen years of age living in a household having an annual adjusted gross income of fifteen thousand dollars or less for the second calendar year preceding the beginning of the school fiscal year for which aid is being calculated. [79-1003(29)]
M
Most recently available complete data year. The most recent single school fiscal year for which the annual financial report, fall school district membership report, annual statistical summary, Nebraska income tax liability by school district for the calendar year in which the majority of the school fiscal year falls, and adjusted valuation data are available. [79-1003(30)]
R
Regular route transportation. The transportation of students on regularly scheduled daily routes to and from the attendance center. [79-1003(31)]
Reorganized district. Any district involved in a consolidation and currently educating students following consolidation. [79-1003(32)]
S
School fiscal year. The fiscal year of each school district shall commence on September 1st in each year and end on August 31st of each year. [79-1091]
Special education. Specially designed kindergarten through grade twelve instruction including special education transportation. [79-1003(34)]
Special grant funds. The budgeted receipts for grants, including, but not limited to, Title I funds, Title VI funds, funds from the Education Innovation Fund, reimbursements for wards of the court, short-term borrowings including, but not limited to, registered warrants and tax anticipation notes, interfund loans, insurance settlements, and reimbursements to county government for previous overpayment. The state board shall approve a listing of grants that qualify as special grant funds. [79-1003(35)]
Special receipts allowance. The amount of special education, state ward, and accelerated or differentiated curriculum program receipts included in local system formula resources. [79-1003(36)]
State aid. The amount of assistance paid to a district under the Tax Equity and Educational Opportunities Support Act. [79-1003(37)]
State Aid Value. (a) For real property other than agricultural and horticultural land, 100% of actual value; (b) for agricultural and horticultural land, 80% of actual value and for agricultural and horticultural land that receives special valuation, 80% of special valuation; and (c) for personal property, the net book value. [79-1016(3)]
State board. The State Board of Education. [79-1003(38)]
State support. All funds provided to districts by the State of Nebraska for the general fund support of elementary and secondary education. [79-1003(39)]
T
Temporary aid adjustment factor. One and one-fourth percent of the sum of the local system's transportation allowance, the local system's special receipts allowance, and the product of the local system's adjusted formula students multiplied by the average formula cost per student in the local system's cost grouping. [79-1003(40)]
Transportation allowance. The lesser of (a) each local system's general fund expenditures for regular route transportation and in lieu of transportation expenditures in the second school fiscal year immediately preceding the school fiscal year in which aid is to be paid, but not including special education transportation expenditures or other expenditures previously excluded from general fund operating expenditures, or (b) the number of miles traveled in the second school fiscal year immediately preceding the school fiscal year in which aid is to be paid by vehicles owned, leased, or contracted by the district or the districts in the local system for the purpose of regular route transportation multiplied by four hundred percent of the mileage rate established by the Department of Administrative Services as of January 1st of the most recently available complete data year added to in lieu of transportation expenditures from the same data year. [79-1003(41)]
Tuition receipts from converted contracts. Tuition receipts received by a district from another district in the most recently available complete data year pursuant to a converted contract prior to the expiration of the contract. [79-1003(42)]
Tuitioned students. Students in kindergarten through grade twelve of the district whose tuition is paid by the district to some other district or education agency. [79-1003(43)]
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