MS SB2564

Increases the at-risk student funding allotment in the Mississippi Adequate Education Program (MAEP) from an unspecified previous rate to seven percent (7%) of the base student cost multiplied by the number of students participating in the federal free school lunch program.

Modifies the base student cost calculation methodology to use months one (1) through nine (9) average daily attendance (ADA) instead of months two (2) and three (3) ADA for instructional, administrative, plant and maintenance, and ancillary support cost components.

Establishes that the base student cost shall be recalculated every fourth fiscal year beginning in fiscal year 2011, with the State Board of Education submitting proposed calculations to the Legislative Budget Office and Governor by August 1.

Requires the State Auditor to annually verify the State Board of Education's MAEP calculations submitted on August 1 (estimated) and January 2 (final).

Takes effect July 1, 2011.