Glossary of Terms
Glossary of Terms
All Day Per Pupil Costs - The amount of money a school district spends on a per pupil basis for all locally enrolled students (average membership). District spending is derived from the school committee budget; municipal indirect educational costs; federal impact aid and school choice tuition income.
AEQV - Adjusted Equalized Property Valuation. This is the total city or town Equalized Property Valuation where the residential share is adjusted by a factor comparing per capita income with the state average per capita income.
Assessed Valuation - A dollar value assigned to a real estate parcel or other property by a government unit as the basis for levying taxes. In Massachusetts, assessed valuation is based on the amount a willing buyer would pay a willing seller on the open market. Assessors must collect, record, and analyze information about the physical characteristics of the property and the real estate market to estimate the FFCV of all taxable properties in their communities.
Budget - A plan of financial operation for a given period of time that includes an estimate of proposed revenues and expenditures and any required outside financing. A budget may be a "preliminary" budget presented to the town meeting, or city council, or a "final" budget approved by that body. The budget should be separated into basic units, based on department, program, or service. The budget should include as much information as possible about the output or accomplishments expected for each budget unit (department, program or service) during the budget period. Formatting the budget in this way helps local officials and citizens make policy decisions when allocating scarce resources
Capital Budget - An annual appropriation or spending plan for capital expenditures. Capital expenditures are usually associated with acquiring tangible assets or completing projects that have a useful life of at least five years. The capital budget should recommend the method of financing for each recommended item and identify those items that may be deferred due to scarce resources.
Capital Expenditures / Improvements - Items generally found in the capital budget such as construction or major repairs to municipal buildings. The fees for architects, engineers, lawyers, and other professional services, plus the cost of financing advance planning, may be included in addition to the cost of materials and installation/construction.
Chapter 70 Aid- Portion of the Massachusetts General Laws that defines the amount of state aid municipalities receive for public education. Chapter 70 funds are a major part of the annual state budget and of funds distributed via the Cherry Sheet process. Provisions of Chapter 70 specified increases in state funding over a seven year period following enactment of the Educational Reform Act of 1993 to achieve an objective called foundation spending. The amount is calculated each year and voted on by the Legislature.
Chapter 74 Programs- Specific vocational-technical educational programs approved by the Commissioner of Education which lead to employment of continuing preparation for employment associated with agriculture, allied health, automotive, construction, marketing, service occupations, industrial-manufacturing programs and technical programs.
CharterSchool - Charter schools are a new breed of public schools which operate independently of the conventional school district structure. A charter school is a separate, legally autonomous public entity with all the powers necessary to carry out its school program. A charter is a contract, between the state and a charter's school's board of trustees, which holds the school accountable to parents, the state, and the public at large. Charters are granted for a period of 5 years and are subject to renewal, contingent upon the school's ability to deliver quality educational results and successfully meet the goals of its charter. Charter schools may not charge tuition to their students. Funding for charter schools comes from the district in which the student resides in the form of per-pupil tuition that follows the student to the charter school.
Cherry Sheet - Detailed report on Local Aid for each city and town, plus regional school districts. Named for the cherry colored paper on which they were originally printed, the Cherry Sheets are the official means by which the Commissioner of Revenue (DOR) notifies a municipality or regional school district of the next fiscal year's state aid (receipts) and assessments.
State aid to municipalities and regional school districts consists of distributions and reimbursements. Distributions provide funds based on formulas while reimbursements provide funds for costs incurred during a prior period for certain programs or services. In addition, communities may receive "offset items" that must be spent on specific programs.
Circuit Breaker Law - A law designed to reimburse school districts for high cost special education students (those whose costs are in excess of four times the FY04 statewide per pupil foundation cost - $29,320). The law took effect in FY04 and replaced the "50/50" and abandoned children programs. Circuit Breaker will reimburse instructional and tuition costs for Special Education for both In District and Out of District students. Beginning in FY05 districts are reimbursed on the basis of eligible students reported in the prior fiscal year at an annually approved rate which for FY05 is 72% and 100% for those students who are abandoned, Homeless and/or State Wards.
Collective Bargaining - The negotiations between an employer and union representative regarding wages, hours, and working conditions.
CPI (Consumer Price Index) - The statistical measure of changes in the overall price level of consumer goods and services based on prices of goods and services bought by urban wage earners and clerical workers, including families and single persons. The index is often called the "cost-of-living index".
Debt Exclusion - A vote by a municipality at an election that excludes debt service payments for a particular capital project from the levy limit. The amount necessary to cover the annual debt service payment is added to the levy limit for the life of the debt only. A debt exclusion may temporarily increase the levy above the levy ceiling as defined by Proposition 2 1/2.
Debt Limit - The maximum amount of debt that a municipality may have authorized for qualified purposes under state law. (primarily MGL Chapter 44 - Municipal Finance § 10)
District or School District - A municipal school department or regional school district, acting through its school committee or superintendent of schools, a county agricultural school, acting through its board of trustees or superintendent/director, any other public school established by statute or charter, acting through its governing board or director.
Education Reform Act of 1993 - An act that seeks to remedy educational funding inequities between local communities by providing adequate state funding over a seven year period (FYI 994 through FY2000) for all local and regional school districts. The objective is to achieve equitable funding based upon a community's ability to pay. One of the Act's major goals is to improve student achievement.
ELE - English Learner Education
ELL - English language learner. A national-origin or linguistic minority student who is limited-English proficient.
E-Rate - In the 1996 Telecommunications Deregulations Act, Congress instructed the Federal Communications Commission (FCC) to create regulations and procedures for the E-Rate program. The E-Rate (for "Education Rate") program gives schools and libraries discounts of 20% to 90% on all purchases of telecommunications services, Internet access, internal building connections, data networks, and more. Almost all K-12 public and private, not for-profit schools are eligible. Home school programs, after school programs, colleges, universities, and other educational organizations are not eligible. Libraries are eligible if they are non-profit and have an independent budget.
EQV (Equalized Valuations) - An estimate of the FFCV (Full and Fair Cash Value) of all property in the Commonwealth as of a certain taxable date. EQVs have historically been used as a variable in distributing some state aid accounts and for determining county assessments and other costs. The Commissioner of Revenue, in accordance with MGL Ch. 58 (General Provisions Relative to Taxation) § I OC, is responsible for determining an equalized valuation for each city and town in the Commonwealth biannually.
ESL - English as a second language. An educational approach in which limited-English proficient students are instructed in the use of the English language. The instruction is based on a special curriculum that involves little or no use of the native language and is usually taught during specific school periods.
ESOL - English for speakers of other languages.
Excess Debt- An excess debt credit is a reduction in a community's contribution because of higher than average local debt service costs for school construction. Districts report their expected debt service costs, from which are subtracted any amounts to be paid by the state under a school construction (SBA) grant. The resulting local share is divided by the foundation enrollment and compared to the state average ($214 per pupil for FY03). If a district's per pupil amount exceeds $214, the difference is multiplied by enrollment to arrive at the district's excess debt.
If a district received supplementary aid due to excess debt in FY00, its current excess debt credit is reduced by that amount. If the excess debt occurs at a regional district, the credit is allocated among the members in accordance with their regional agreement. Finally, excess debt credits cannot reduce a district's spending below the foundation budget level.
Excess and Deficiency (Regional School Districts) - Also called the "surplus revenue" account (E&D), this is the amount by which cash, accounts receivable, and other assets exceed a regional school district's liabilities and reserves as certified by the Director of Accounts. The calculation is made based on the balance sheet that is submitted by the district's auditor, accountant, or comptroller as of June 30. The regional school committee must apply certified amounts exceeding five percent of the district's prior year operating and capital costs to reduce the assessment on member cities and towns. NOTE: The Amherst-Pelham Regional School District Regional Agreement restricts the E&D to a maximum of three and one half percent.
Excess Levy Capacity - The difference between the levy limit and the amount of real and personal property taxes actually levied in a given year. Annually, the board of selectmen or city council must be informed of excess levy capacity and their acknowledgment must be submitted to the DOR when setting the tax rate.
Extraordinary Maintenance- The periodic servicing, repair or reconditioning of school buildings, grounds, or equipment to extend the useful life of an existing asset, provided that the total cost per project per school of an extraordinary maintenance project shall not exceed $100,000.
Foundation Enrollment- The total number of students who reside in the district and who attend public school in that district or in another district for which the district or town of residence pays tuition. On or before October 15 of every year, every school district within the Commonwealth shall report the total number of students for whom the district is fiscally responsible as of October 1.
Foundation Budget- A budget for each school district established by the Education Reform Act. This budget represents the minimum level of spending needed to provide an adequate education for the district's students. The foundation budget is made up of 19 separate categories, such as teaching salaries, books and equipment, extracurricular activities, utilities and maintenance, etc. Significant variations between local spending and the foundation budget, or between local spending and the state-wide averages occur.
Foundation Reserve Program- The foundation reserve (pothole) program is an adjunct to the Chapter 70 state aid program. It provides one-time discretionary grants to municipalities and school districts which, because of unusual or unique circumstances, are having difficulty meeting their educational needs.
Free Cash - Unrestricted funds from operations of the previous fiscal year that are certified by the Director of Accounts as available for appropriation. Remaining funds include unexpended free cash from the previous year, receipts in excess of estimates shown on the tax recapitulation sheet, and unspent amounts in budget line-items. Unpaid property taxes and certain deficits reduce the amount that can be certified as free cash. The calculation of free cash is based on the balance sheet as of June 30, which is submitted by the community's auditor, accountant, or comptroller.
A community should maintain a free cash balance to provide a hedge against unforeseen expenditures and to ensure there will be an adequate reserve to prevent sharp fluctuations in the tax rate. Maintenance of an adequate free cash level is not a luxury but a necessary component of sound local fiscal management. Credit rating agencies and other members of the financial community expect municipalities to maintain free cash reserves and make judgments regarding a community's fiscal stability, in part, on the basis of free cash.
Full Time Equivalent (FTE)- Used by the Department of Education to calculate the number of staff positions. Example: A full time position is 1 FTE; two half-time positions equal 1 FTE.
General Fund Receipts- Funds received by a school district or municipality that are not granted or contributed to the district or municipality for a designated purpose and are not, by statute, set aside in a special account for expenditure at the discretion of the school committee.
IEP - Individualized Education Program. The IEP is a written document that serves multiple purposes: it is a teacher planning aid, an administrative form, and a parent involvement tool. Primarily, it delineates a child's special needs and the educational services designed to meet those needs.
Integrated Per Pupil Costs- The amount of money a city or town spends on a per pupil basis for all students who reside in that particular city or town. This spending includes funds appropriated to the school committee budget; assessments to member regional school districts; municipal indirect costs to support education; tuition payments to other public or private schools and federal impact aid funds.
LASID - Local Assigned Student Identifier
LEA - Local Educational Agency
LEP - Limited English proficient; a term used to identify those students who have insufficient English to succeed in English-only classrooms.
Levy - The property tax levy is the revenue a community can raise through real and personal property taxes. In Massachusetts, municipal revenues to support local spending for schools, public safety and other public services are raised through the property tax levy, state aid, local receipts and other sources. The property tax levy is the largest source of revenue for most cities and towns.
Levy Ceiling- A community cannot levy more than 2.5% of the total full and fair cash value of all taxable real and personal property in the community. The full and fair cash value limit is the levy ceiling.
Levy Limit- Proposition 2½ places constraints on the amount of the levy raised by a city or town and on how much the levy can be increased from year to year. A levy limit is a restriction on the amount of property taxes a community can levy. A community's levy is also constrained in that it can only increase by a certain amount from year to year. The maximum amount a community can levy in a given year is the levy limit. The levy limit will always be below, or at most, equal to the levy ceiling. The levy limit may not exceed the levy ceiling.
Local Aid - Revenue allocated by the Commonwealth to municipalities and regional school districts. The annual Cherry Sheets transmit estimates of local aid to municipalities and districts. Most Cherry Sheet aid programs are considered revenues of the municipality's or regional school district's general fund and may be spent for any purpose, subject to appropriation.
Local Receipts (Municipal) - Locally generated revenues, other than real and personal property taxes and enterprise fund revenues. Examples include motor vehicle excise, investment income, hotel/motel tax, fees, rentals, and charges. Annual estimates of local receipts are shown on the tax rate recapitulation sheet.
Maintenance of Effort- School districts and municipalities are now mandated by state law, Chapter 194 of the Acts of 1998, Section 241, to meet spending requirements for school building maintenance. Each school district's/municipality's annual spending on school building maintenance must equal or exceed 50% of the sum of its foundation budget allotments for ordinary maintenance and extraordinary maintenance. Districts/municipalities who fail to meet the spending requirement will lose their eligibility for new or continued funding under the Commonwealth's School Building Assistance (SBA) grant program.
MCAS- Massachusetts Comprehensive Assessment System. MCAS was implemented in response to the Education Reform Law of 1993, which required that MCAS be designed to:
- Test all public school students across the Commonwealth, including students with disabilities and students with limited English proficiency
- Be administered annually in selected grades
- Measure performance based on the Massachusetts Curriculum Framework learning standards
- Report on the performance of individual students, schools, and districts
- Serve as one basis of accountability for students, schools, and districts (for example, beginning with the class of 2003, grade students must pass the MCAS tests as one condition of eligibility for earning a high school diploma.)
Medicaid Reimbursement Program - Following Congress' passage of the Medicare Catastrophic Coverage Act of 1988, which clarified Medicaid's responsibility to pay for health-related services provided to handicapped children pursuant to an Individualized Education Plan, the John W. McCormack Institute, University of Massachusetts at Boston (the Institute), at the request of the Department of Public Welfare's Medicaid Division and the State Department of Education began an exhaustive study to identify health-related services eligible for Medicaid reimbursement in Massachusetts.
Programs providing health-related services to Medicaid students are eligible for federal reimbursement of a portion of the cost of qualified program expenses, known as Federal Financial Participation (FFP). The rate of FFP for each state is dependent upon its per capita income as compared to the federal per capita average.
The cost of health-related services can be attributed to several factors, among which are the expanding scope of health-related services that schools are required to provide (ranging from speech, physical and occupational therapy to gastro-tube feedings), students requiring 24 hour special education in Chapter 766 approved private Residential Schools due to social and behavioral needs, and the high cost of specialized programs that serve children with low-incidence disabilities.
Medicaid Reimbursement Program for the school based health services is divided into two categories: direct services and administrative services. Approved Municipal Medicaid providers must be school systems. A municipality cannot be a recognized provider.
MRGF - Municipal Revenue Growth Factor. Each municipality is expected to increase its required local spending from the previous year based on its municipal revenue growth factor (MRGF). The MRGF is calculated annually by the Department of Revenue and represents the percentage increase in total unrestricted revenues available to the city or town. This factor is applied against the prior year's preliminary contribution.
Municipal Expenditures- Commonly referred to as the "Schedule 19" numbers (DOE annual End of Year Report), these represent the amount spent on specific school expenditures that are appropriated to the city departments. Examples include employee insurance costs, maintenance, nurses and financial/date processing costs.
NELB - Non English Language Background; this term refers to children who do not fit in to general LEP/ELL status, but whose linguistic background is important to academic planning and review. An example is children whose primary language is English, but who do not speak English exclusively or whose immediate family members speak a language other than English.
NetSchool Spending- The larger portion of the school budget, which contains costs directly related to the education of students. The amount of community's "required net school spending" (i.e. minimum net spending) is set each year by the Department of Education.
NSS (NetSchool Spending) Requirement - Sum of a school district's minimum local contribution and the Chapter 70 aid received in a given fiscal year (FY). Municipalities and regional school districts must appropriate funds sufficient to the net school spending requirement. In addition to the NSS requirement funds need to be appropriated to support costs of student transportation, fixed assets, long term debt service, and other costs not part of the NSS.
New Growth- Proposition 2½ allows a community to increase its levy limit annually by an amount based on the increased value of new development and other growth in the tax base that is not the result of revaluation. New growth includes:
- Properties that have increased in assessed valuation since the prior year because of development or other changes.
- Exempt real property returned to the tax roll and new personal property.
- New subdivision parcels and condominium conversions.
No Child Left Behind (NCLB) - On January 8, 2002 President Bush signed into law the No Child Left Behind Act of 2001 (NCLB). This new law represents his education reform plan and contains the most sweeping changes to the Elementary and Secondary Education Act (ESEA) since it was enacted in 1965. It changes the federal government's role in kindergarten-through-grade-12 education by asking America's schools to describe their success in terms of what each student accomplishes. The act contains the President's four basic education reform principles: stronger accountability for results, increased flexibility and local control, expanded options for parents, and an emphasis on teaching methods that have been proven to work. Under the act, families of students who attend Title I - supported schools that have not made adequate yearly progress in increasing student academic achievement over a period of at least two years now have options to pursue a quality education for their child.
NonNetSchool Spending- The smaller portion of the school budget. The primary components are busing, the costs of community usage of school buildings, and capital improvements. Although the state does not establish a minimum appropriation amount, there are laws and regulations that impact some of the amounts required, such as minimum busing mileage requirements.
October 1 Enrollment- The total number of students enrolled in the school district. On or before October 15 of every year, every school district within the Commonwealth shall report its student enrollment as of October 1. The data required for this report is used for fund allocation, statistical analysis and monitoring educational equity.
Override - Proposition 2½ allows a community to assess taxes in excess of the automatic annual 2.5% increase and any increase due to new growth by passing an override. A community may take this action as long as it is below its levy ceiling, or 2.5% of full and fair cash value. An override cannot increase a community's levy limit above the level of the community's levy ceiling.
Overlay Surplus - Any balance in the overlay account of a given year in excess of the amount remaining to be collected or abated can be transferred into this account. Within ten days of a written request by the chief executive officer of a city or town, the assessors must certify the excess amount of overlay available to transfer. Overlay surplus may be appropriated for any lawful purpose. At the end of each fiscal year, unused overlay surplus is "closed" to surplus revenue and becomes a part of free cash.
Override - A vote by a community at an election that permanently increases the levy limit. Unlike capital outlay expenditure exclusions or debt exclusions, an override vote can increase the levy limit no higher than the levy ceiling. The override ballot question must state a purpose for the override and a dollar amount.
Override Capacity - The difference between a community's levy ceiling and its levy limit. It is the maximum amount by which a community may override its levy limit.
PDP - Professional Development Point: a unit of measurement of professional development activities. One clock hour is equivalent to one professional development point. One semester hour is equivalent to 15 PDPs.
Proposition 2 1/2 - State law enacted in 1980 that regulates local property tax administration. Major provisions of this legislation are located in MGL 59 - Assessment of Local Taxes § 21C and relate to the determination of a levy limit and levy ceiling for each town.
Recap, Tax (Sheet) - Form developed by the Tax Rate Recapitulation process that summarizes all revenues, expenditures, local options, assessed values, and levy components that result in a proposed tax rate.
Regular Day Program - A public school day program not defined as special education, vocational or transitional bilingual education under any provisions of the General Laws or regulations promulgated by the Department of Education.
Regional Agreement- An Agreement approved by the member towns and the Department of Education which governs the structure and operations of the district. The statutes (Chapter 71§ 14 through 20A) and the districts agreement impart upon the district the right to acquire property, to incur debt, to issue bonds and notes on the full faith and credit, to sue and be sued, to receive grants and gifts, to assess member towns for approved operating budgets, per the established formula, and for approved debt.
Section VII a: Not later than 45 days prior to the earliest date on which a business session of an annual town meeting of any member town, but not later than March thirty-first, the Committee shall adopt an operating budget for the next fiscal year.
Section XIV: This Agreement may be amended by (1) a two-thirds vote of the Committee and (2) a majority in each of the Participating Towns at either an annual or a special town meeting, such vote in the case of a town having representative town government by limited town meetings to be subject to the right of referendum applicable in such town. Action to amend the Agreement may be proposed only by the Committee, any such proposal to be submitted to the selectmen in each Participating Town who shall cause the question to be voted upon either at the next annual town meeting or if the Committee so requests at a special town meeting which shall be held within thirty (30) days of the date on which the selectmen receive the proposed amendment from the Committee. (Amendment #5, March 1968)
Regional Transportation (Chapter 71 § 16c: - the statute requires the full reimbursement of costs related to transporting pupils who reside over 1 ½ miles form school. Since this reimbursement is subject to appropriation by the legislature the rate has varied from year to year. [Historical appropriation and rate data: FY05 $32,970,971 (rate to be determined); FY04 $26,395,680 at 47.52%; FY02 $51,118,970 at 99.72%; FY01 $46,944,096 at 100%].
Required Local Contribution - The amount set by the Department of Education as the minimum amount a community must contribute for educational expenses. This amount plus state aid equals the minimum net spending requirement.
Revaluation - Also known as recertification. Process by which assessors of a community meet their responsibility for developing a reasonable and realistic program to achieve the fair cash valuation of property in accordance with constitutional and statutory requirements. The nature and extent of a revaluation program depends on the assessors' analysis and consideration of many factors, including, but not limited to, the status of the existing valuation system, the results of an in-depth sales ratio study, and the accuracy of existing property record information. Every three years, assessors must submit property values to the DOR for certification. Assessors must also maintain current values in the years between certifications so that each taxpayer in the community pays a share of local government cost proportional to the value of their property.
SASID - State Assigned Student Identifier. The SASID number is issued by the Massachusetts Department of Education and remains with the student throughout his/ her educational life in grades pre-K through 12, even as the student transfers from one district or school to another. If the student leaves the state and returns, the student will receive his/her original SASID.
SchoolBuilding Assistance Program- The SBAB program was established by the Legislature in 1948 and the DOE took over management of the program in 1965. In 1982, Proposition 2 ½, because of its local tax limitations, significantly enhanced the importance of the program. BY the mid 1990's the programs success began to outstrip the State's ability to provide the necessary financing - the waiting list for project approvals skyrocketed. Consequently, in July 2004 reform legislation was enacted. The primary provisions are:
1. Dedication of 1 cent of the sales tax to a new off-budget school building trust
2. Provisions for additional State contributions of $1 billion in bond proceeds and $150 million in surplus cash
3. Makes the new trust responsible for paying old contract assistance and for financing the current wait list projects
4. Continues a three year moratorium on new projects
5. Reduces the average subsidy (reimbursement) level by about 10 percentage points (72% to 62%)
6. Establishes a new independent authority to manage the program - oversight transferred to the State Treasurers Office.
School Choice- The school choice program allows parents to send their children to schools in communities other than the city or town in which they reside. Tuition is paid by the sending district to the receiving district. Districts may elect not to enroll school choice students if no space is available.
- Receiving district: any city, town or regional school district within the commonwealth in which a child does not reside, but in which that child attends public school under the provisions of Massachusetts General Laws, CH. 72 § 12B.
- Sending district: any city, town or regional school district within the commonwealth in which a child resides, but in which that child does not attend public school under the provisions of Massachusetts General Laws, CH. 72 § 12B.
School Choice Aid - A component of Chapter 70 state aid provided to a municipality for public education. If a district is spending below the foundation budget and it was a "sending" district under school choice in the prior fiscal year (FY), the district generally receives school choice aid in an amount equal to any increase in its prior year estimated gross school choice liability, when compared to the previous year.
SEA - State Educational Agency
SEI - Structured English Immersion; An instructional program taught in English by teachers who have specialized training in ESL; full-time, self-contained academic program in which students from different language classifications may be grouped together.
Special Education Placements-
- 00 Not a special education student
- 01 Not currently SE but was previously
- 05 Three-five year olds, general education students serving as role models
- 08 Three-five year olds, 100% in general education classroom
- 09 Three-five year olds, 100% separate classroom
- 10 All ages, Full Inclusion, outside general education less than 21% of the time
- 20 All ages, Partial Inclusion, outside general education 21%-60% of the time
- 40 All ages, Substantially separate, outside general education more than 60% of the time
- 41 All ages, Public separate day school
- 50 All ages, Private separate day school
- 60 All ages, Private residential
- 70 All ages, Homebound/Hospital
- 90 All ages, Public residential facilities
Stabilization Fund - A fund within a municipal accounting system used to accumulate amounts for capital or other future spending purposes, although it may be appropriated for any lawful purpose per MGL Ch. 40 - Powers and Duties of Cities and Towns § 513. Communities may appropriate into this fund an annual amount not to exceed ten percent of the prior year's tax levy or a larger amount with the approval of the Emergency Finance Board. The aggregate of the stabilization fund shall not exceed ten percent of the community's equalized value, and any interest shall be added to and become a part of the fund. A two-thirds vote of town meeting or city council is required to appropriate money from the stabilization fund.
State Wards- Any school age child placed in foster care elsewhere than in his/her home town by, or there kept under the control of, the Department of Social Services.
Title I (Federal Grant) -
|
Purpose: |
Title I, as reauthorized under the No Child Left Behind Act of 2001, provides resources to local school districts to assist low achieving students in high poverty schools to meet the state's challenging academic standards. |
|
Priorities: |
The priorities of Title I are to:
|
|
Eligibility: |
A district is eligible to receive funds based on criteria established by the United States Department of Education. Grants are awarded to local school districts after review and approval of the local plan. |
Special Education/IDEA (Federal Grant) - Students with special needs are a federally mandated subgroup under NCLB. The federal Individuals with Disabilities Education Act (IDEA) authorizes formula grants to states.
Tax Rate - Ratio of property tax divided by a unit of the associated municipal tax base. A tax rate can be expressed as $14.80 per $1,000 of assessed valuation for taxable real and personal property. The state approved local tax rate for a property class is the authorized levy for the class divided by the certified valuation. The Tax Rate Recapitulation Form and supporting documentation contains proposed tax rates for a municipality and approval of this form means approval of the proposed tax rates.
Unreserved Fund Balance - The amount by which cash, accounts receivable, and other assets exceed liabilities and restricted reserves. The unreserved fund balance is akin to a "stockholders' equity" account on a corporate balance sheet. The entire balance amount is not, however, available for appropriation because a portion of the assets listed as "accounts receivable" may be taxes receivable and uncollected. See free cash.
Valuation - The method by which a dollar value is assigned to property. Massachusetts law requires that a community's property be assessed based on market or full and fair cash value (FFCV)