Expenditure Requirements for Gifted and Talented Programs Memo Information Memo Number FIN-22-045 Memo Date 6/23/2022 Memo Type Informational Unit Fiscal & Administrative Services Regulatory Authority Ark. Code Ann. ยง 6-20-2208 Response Required NO Attention Superintendents; Assistant Superintendent; General Business Managers; Bookkeepers Primary Contact Information Name Tracy Webb Phone Number 501-683-0737 Email Tracy.Webb@ade.arkansas.gov Memo Text Pursuant to Ark. Code Ann. § 6-20-2208(c)(6), school districts are required to expend state and local revenues on Gifted and Talented Programs in an amount equal to fifteen percent (15%) of the Foundation Funding amount multiplied by five percent (5%) of the school district's prior year three quarter average daily membership (3 QTR ADM). A spreadsheet is attached that shows each district's 2021-22 spending requirement for Gifted and Talented Programs based on the Foundation Funding amount of $7,182. The spreadsheet will be updated periodically and can be found on apscn.org (District Warehouse YTD Financial Reports > Gifted/Talented Expenditure Required Summary YTD with NBC Bonus). Attachments GiftedTalentedExpenditureRequiredSummaryYTDWithNBCBonus_(10)_081829.xls
Memo Number FIN-22-045 Memo Date 6/23/2022 Memo Type Informational Unit Fiscal & Administrative Services Regulatory Authority Ark. Code Ann. ยง 6-20-2208 Response Required NO Attention Superintendents; Assistant Superintendent; General Business Managers; Bookkeepers
Pursuant to Ark. Code Ann. § 6-20-2208(c)(6), school districts are required to expend state and local revenues on Gifted and Talented Programs in an amount equal to fifteen percent (15%) of the Foundation Funding amount multiplied by five percent (5%) of the school district's prior year three quarter average daily membership (3 QTR ADM). A spreadsheet is attached that shows each district's 2021-22 spending requirement for Gifted and Talented Programs based on the Foundation Funding amount of $7,182. The spreadsheet will be updated periodically and can be found on apscn.org (District Warehouse YTD Financial Reports > Gifted/Talented Expenditure Required Summary YTD with NBC Bonus).
Arkansas Department of Education