Arkansas Administrative Code

6 CAR § 272-410. Restricted state aid. Enhanced student achievement funding is restricted state aid, except as otherwise allowed by law or rule.

6 CAR § 272-411. Monitoring and compliance for use of ESA funds. (a) At any time during a school year, the Division of Elementary and Secondary Education may review: (1) A school district’s support plan; (2) Reports and information required by this part; (3) Test data; (4) Financ…

6 CAR § 272-412. Budgeting enhanced student achievement funds. (a) A school district shall budget one hundred percent (100%) of enhanced student achievement funds each year to provide the supports and resources described in 6 CAR § 272-407. (b) If a school district intends to tra…

6 CAR § 272-413. Annual expenditure of enhanced student achievement funds. (a) By June 30 of each year, a school district shall expend a minimum of eighty-five percent (85%) of the school district's current-year enhanced student achievement funding allocation in a manner permitte…

6 CAR § 272-414. Enhanced student achievement matching grant program. (a)(1) A matching grant program has been established for enhanced student achievement expenditures for evidence-based programs to improve the academic achievement of identified national school lunch students. (…

6 CAR § 272-501. Special needs — Professional development. (a) The professional development funding amount shall be: (1) An amount up to the amount authorized by law; multiplied by (2) The district’s ADM of the previous school year. (b) Professional development funding shall be e…

6 CAR § 272-502. Financial accounting for special needs state funding. (a) After having provided programs designed to meet the needs of students in the respective categorical funding areas, a school district may transfer and expend funds on any of the special needs categories all…

6 CAR § 272-503. Categorical fund balances. (a)(1) As of June 30 of each school year, the total aggregate balance of all state categorical fund sources shall not exceed twenty percent (20%) of the total aggregate annual state categorical fund allocations for the current school ye…

6 CAR § 273-101. Purpose. The purpose of this part is to provide the process and procedures necessary to calculate the miscellaneous funds used in both state foundation funding aid and bonded debt assistance calculations.

6 CAR § 273-102. Definitions. As used in this part: (1) “Bonded debt assistance” means an amount of state financial aid provided to an eligible school district under Arkansas Code § 6-20-2503; (2) "Foundation funding" means an amount of money specified by the General Assembly for…

6 CAR § 273-103. Calculation. (a) For the purpose of making an initial calculation of state foundation funding aid, the Division of Elementary and Secondary Education shall calculate the miscellaneous funds of a school district or open-enrollment public charter school as the aggr…

6 CAR § 273-104. Process and procedures. (a) For the fiscal year 2013-2014 calculation of state foundation funding aid: (1) In accordance with 6 CAR § 273-103(a) for the initial calculation of state foundation funding aid: (A) The calendar year immediately preceding the beginning…

6 CAR § 274-101. Purpose. (a) This part is enacted to set forth the criteria that shall be used by the: (1) Department of Education’s Loans and Bonds Committee (“committee”) in reviewing and recommending loan and bond applications from school districts and revolving loan applicat…

6 CAR § 274-102. Definitions. As used in this part: (1) “Academic Facilities Factor” means the ratio of the total square footage of academic facilities financed with outstanding bonded indebtedness over the combined square footage of academic and nonacademic facilities with outst…

6 CAR § 274-103. Application. (a) This part shall apply to all: (1) Loan and bond applications filed by school districts and all revolving loan applications filed by education service cooperatives with the Department of Education; and (2) Academic Facilities High-Growth School Di…

6 CAR § 274-104. Loans and Bonds Committee. (a) The Loans and Bonds Committee shall consist of these eight (8) members or designees: (1) Assistant Commissioner, Division of Fiscal and Administrative Services; (2) Associate Director, Internal/External Agency Finance Unit; (3) Coor…

6 CAR § 274-105. Equity status. (a) All school districts submitting loan or bond applications to fund a proposed facility project, excluding maintenance and operation facilities, transportation facilities, and other noninstructional facilities, shall submit written documentation …

6 CAR § 274-106. Revolving loan program. (a)(1) Revolving loans may be refunded or paid in full without penalty on any scheduled interest payment date. (2) The district or education service cooperative is required to submit written notification to the State Funding/Loans and Bond…

6 CAR § 274-107. Nonvoted refunding bonds. (a)(1) A separate application package must be submitted for each bond issue to be paid off with a nonvoted refunding issue. (2) The application package must include, but is not limited to: (A) The application; (B) A contract between the …

6 CAR § 274-108. Procedural requirements. (a) No loan or bond application will be recommended for approval to the State Board of Education by the Loans and Bonds Committee and no loan or bond application will be approved by the state board or the Commissioner of Elementary and Se…

6 CAR § 274-109. Security of loans and bonds. (a) In the case of default on principal or interest payments on a revolving loan, the Department of Education shall withhold state foundation funding due to the district in an amount sufficient to cure the default and use those funds …

6 CAR § 274-110. Education service cooperative revolving loan applications. Education service cooperatives shall submit an authorization signed by the board president and secretary: (1) Pledging all state aid in an amount sufficient to secure the revolving loan; and (2) Authorizi…

6 CAR § 274-111. Academic facilities high-growth school district loan program. (a) There is established the Academic Facilities High-Growth School District Loan Program (HGLP) under which the Department of Education shall provide an interest-free loan for construction of new acad…

6 CAR § 274-112. Reporting. (a)(1) School districts that call mandatory callable bonds or other commercial bonds must report such calls to the State Funding/Loans and Bonds Unit of the Department of Education prior to April 30 of each fiscal year. (2) The notification must includ…

6 CAR § 274-113. Trustee fees. (a)(1) Fees assessed by trustee banks for acting as paying agent and for providing other services necessary to manage school district bond issues shall be approved by the State Board of Education. (2) A fee schedule will be provided by the State Fun…

6 CAR § 275-101. Purpose. (a) The purpose of this part is to set forth the process and procedures for establishing and implementing a system for reviewing the financial management practices of public school districts. (b) The purposes of best financial management practices review…

6 CAR § 275-102. Definitions. For purposes of this part and unless otherwise specifically stated herein, the following terms shall mean: (1) “Administrative technology” means use of technology for administrative management functions; (2) “Department” means the Department of Educa…

6 CAR § 275-103. Implementation of system for reviewing financial management practices. (a) The Department of Education shall comply with the following deadlines for implementation of the system of review: (1) The department shall develop the best financial management practices r…

6 CAR § 275-104. Areas included in best financial management practices. Best financial management practices shall be developed for, but need not be limited to, the following areas: (1) Management structures; (2) Performance accountability; (3) Efficient delivery of educational se…

6 CAR § 275-105. Responsibility. (a) The Department of Education and Arkansas Legislative Audit are directed to develop a system for reviewing the financial management practices of public school districts. (b) Arkansas Legislative Audit shall assist the department in examining di…

6 CAR § 275-106. Periodic review and revision. (a) The best financial management practices adopted by the State Board of Education may be updated periodically after consultation with: (1) The Governor; (2) The Legislative Council; (3) School districts; (4) Arkansas Legislative Au…

6 CAR § 275-107. District self-assessment. (a) The Department of Education shall develop a self-assessment instrument regarding each of the adopted best financial management practices. (b) The district must begin the self-assessment sixty (60) days prior to the beginning of the d…

6 CAR § 275-108. Reviews. (a)(1) The Department of Education shall conduct the reviews of best financial management practices. (2) All public school districts shall be reviewed biennially by an onsite visit. (b) The scope of the review shall focus on the best financial management…

6 CAR § 275-109. Required remedial action plan. (a) If a district receives a designation of “F” from the review of best financial management practices, then the final report must contain an action plan detailing how the district can meet the best financial management practices wi…

6 CAR § 275-110. Public notice. (a) During the district review of best financial management practices, the Department of Education or the consultant conducting the review shall hold at least one (1) advertised public forum as part of the review. (b) The purpose of the public foru…

6 CAR § 275-111. Seal of best financial management. (a) School districts determined in their best financial management practices review to be using the best practices and that are awarded a grade of “A” shall receive a “Seal of Best Financial Management”. (b) The designation shal…

6 CAR § 275-112. Cost savings. (a) Unrestricted cost savings resulting from implementation of the best financial management practices shall be spent at the school and classroom levels for: (1) Teacher salaries; (2) Professional development; (3) Facilities; (4) Student supplies; (…

6 CAR § 276-101. Purpose. The purpose of this part is to establish a consistent basis of accounting for schools.

6 CAR § 276-102. Definitions. For purposes of this part, the following terms mean: (1) “Accrue” means to record revenues when earned and to record expenditures as soon as they result in liabilities, regardless of when the revenue is actually received or the payment is actually ma…

6 CAR § 276-103. Financial reporting — Regulatory basis of accounting. (a)(1) The financial statements shall be presented on a fund basis format. (2) There shall be no entity-wide statements. (b) The financial statements shall consist of: (1) Balance Sheet — Regulatory Basis; (2)…

6 CAR § 277-101. Purpose. The purpose of this part is to set forth the general guidelines for the funding and operation of the Intervention Block Grant Program, which provides support and enhancement of the educational growth and preparation of children for success through early …

6 CAR § 277-102. Definitions. As used in this part: (1) “ADE” means the Department of Education; (2)(A) “At-risk” means students who are at-risk of failing or are not performing at their academic/grade level and/or developmental age level. (B) Factors for being at-risk may includ…

6 CAR § 277-103. Funding the Intervention Block Grant. (a) Public schools, districts, or education service cooperatives shall be eligible for funding for programs serving children/students up through sixth grade. (b) Funding will be available through a competitive RFP process. (c…

6 CAR § 277-104. Required application components. (a) The RFP will clearly define the required application components, which shall include, but not be limited to a: (1) Program narrative; (2) Coordination of resources; (3) Management plan; (4) Program evaluation; and (5) Budget a…

6 CAR § 277-105. Selection process. (a)(1) The Department of Education will convene a panel to review and rate grant applications according to a scoring rubric. (2) The recommendations based on the reviews of the panel will adhere to the internal approval process of the departmen…

6 CAR § 277-106. Reporting requirements. (a) Programs will be required to submit in writing any request for changes in the approved: (1) Goals; (2) Objectives; (3) Management plan; and/or (4) Budget. (b) Programs shall submit timely quarterly reports, end-of-program-year financia…

6 CAR § 277-107. Compliance. (a) Programs will be monitored through: (1) Site visits; (2) Required program reports; and (3) Fiscal review. (b) All applications made to the Department of Education requesting funding under the Intervention Block Grant: (1) Become the property of th…