10.67.101    STATE AID DISTRIBUTION SCHEDULE

(1) State equalization aid will be distributed pursuant to the provisions of section 20-9-344, MCA. The superintendent of public instruction shall distribute the state equalization aid on the basis of each district's entitlement of the aid as established by the superintendent of public instruction.

(2) The board of public education may not increase or decrease the state equalization aid distribution to any district on account of any difference that may occur during the school fiscal year between budgeted and actual receipts from any other source of school revenue.

(3) The first foundation program payment and guaranteed tax base aid payment must be based on an estimate of 20% of the entitlement of each district or county and must be distributed by July 15 of the school fiscal year.

(4) Each subsequent monthly payment must be at least 7% of the entitlement of each district or county.

(5) If a district or county receives more state equalization aid than it is entitled to, the county treasurer shall return the overpayment to the state upon the request of the superintendent of public instruction in the manner prescribed by the department of commerce.

History: Sec. 20-2-114, 20-2-121, 20-9-344, 20-9-346 MCA, IMP, Sec. 20-9-344, 20-9-346 MCA; NEW, 1978 MAR p. 998, Eff. 7/15/78; AMD, 1988 MAR p. 1526, Eff. 7/15/88; AMD, 1990 MAR p. 1254, Eff. 6/29/90.