20-9-541. Definitions.
20-9-541. Definitions. As used in 20-9-542 and this section, the following definitions apply:
(1) "Average student amount" means the amount calculated by:
(a) multiplying the money available in the school flexibility account, provided for in 20-9-542, by 40%; and
(b) dividing the amount calculated in subsection (1)(a) by the total statewide ANB in the previous fiscal year when averaged with the total statewide ANB for the previous 4 fiscal years.
(2) "Current student amount" means the amount calculated by:
(a) multiplying the money available in the school flexibility account, provided for in 20-9-542, by 20%; and
(b) dividing the amount calculated in subsection (2)(a) by the total statewide ANB in the previous fiscal year.
(3) "District K-12 public school funding amount" means the K-12 public schools amount multiplied by the number of K-12 public schools in the school district in the fiscal year in which the funding is distributed.
(4) "District large K-12 public school funding amount" means the large K-12 public schools amount multiplied by the number of K-12 public schools with an enrollment of at least 250 students in the school district in the fiscal year in which the funding is distributed.
(5) "District student funding amount" means the current student amount multiplied by a district's ANB for the previous fiscal year plus the average student amount multiplied by a district's ANB for the previous fiscal year when averaged with the district's ANB for the 4 previous fiscal years.
(6) "K-12 public schools amount" means the amount calculated by:
(a) multiplying the money available in the school flexibility account, provided for in 20-9-542, by 15%; and
(b) dividing the amount calculated in subsection (6)(a) by the number of K-12 public schools that anticipate having students in the fiscal year in which the funding is distributed.
(7) "Large K-12 public schools amount" means the amount calculated by:
(a) multiplying the money available in the school flexibility account, provided for in 20-9-542, by 25%; and
(b) dividing the amount calculated in subsection (7)(a) by the number of K-12 public schools with an enrollment of at least 250 students that anticipate having students in the fiscal year in which the funding is distributed.
History: En. Sec. 1, Ch. 237, L. 2001.