State Aid Formula

The state aid formula is based on a simple concept: District needs - District resources = Equalization Aid It gets complicated when the calculation of needs and resources begins. Here is how needs are calculated- Basic Funding + Poverty allowance + Limited English Proficiency allowance + Elementary Class Size allowance + Focus School Program allowance + Summer School allowance + Special Receipts allowance + Transportation allowance + Elementary Site allowance + Distance education allowance + Instructional Time allowance + Teacher Education allowance + Averaging Adjustment + New School Adjustment + Student Growth Adjustment + Local Choice Adjustment = Calculated Formula Needs The receipts are calculated by the following- Yield from Local Effort Rate (Valuation of district divided 100 x 1.0395) + Net Option Funding + Allocated Income Tax Funds + Other Actual Receipts + Minimum Levy Adjustment + Retirement Aid = Total Formula Resources Calculated Formula Needs - Total Formula Resources = Equalization Aid Total State Aid Calculated = Equalization Aid + Net Option Funding + Allocated Income Tax Funds + Retirement Aid + Non-equalized Minimum Levy Adjustment + District Reorganization Incentive Bancroft-Rosalie will have a Total State Aid Calculated in the amount of $708,170.59.