AK HB313

Increases the unreserved school operating fund balance limit from 10 percent to 15 percent of district expenditures under AS 14.17.505(a).

Restricts borough school boards from reallocating or reappropriating locally-appropriated school funds for other purposes unless the unrestricted year-end operating fund balance exceeds the amount set in AS 14.17.505(a).

Removes AS 14.17.500 (student count estimates) from state boarding school operational requirements and clarifies funding references in AS 14.16.050(a).

Adds supplemental funding provisions allowing the department to provide funding equal to adjusted ADM increases of 200 students or three percent or more, or discretionary supplemental funding for districts unable to meet current fiscal year needs.

Establishes procedures for adjusting student counts for the current fiscal year and limits part-time correspondence students to counting as no more than one full-time equivalent student; effective July 1, 2014.