HB 5897 Summary

• Sets basic foundation allowance at $8,169.00 and minimum foundation allowance at $7,391.00 for fiscal year 2015-2016.

• Districts that had foundation allowances below the basic amount receive increased funding calculated using a formula that includes twice the dollar adjustment from the prior year plus a weighted calculation based on the gap between basic and minimum allowances.

• Districts with foundation allowances equal to the basic amount receive the full basic foundation allowance for 2015-2016.

• Public school academies operating as cyber schools receive 1/3 of the standard public school academy allocation beginning in 2015-2016.

• Establishes detailed calculation methodology for district foundation allowances based on prior year amounts, basic allowance increases, consumer price index adjustments, and special provisions for consolidated districts, receiving districts, and achievement schools.