MS SB2092

Amends Section 37-61-9 of the Mississippi Code to revise the administrative expenditure limit for school districts to $150,000 plus 4% of each district's expenditures per year.

Defines "administration costs" as salaries and fringe benefits for central administration from non-federal revenue sources in specified expenditure functions including general administration, board services, executive administration, and business services.

Allows school districts to exclude costs that demonstrably result in net savings by reducing expenditures in non-administration functions, subject to approval by the Office of Educational Accountability.

Exempts districts with 5 or fewer full-time central administration employees and allows the State Board of Education to grant exemptions if the cap would jeopardize fiscal integrity or educational service delivery.

Takes effect July 1, 2018, with a requirement that districts reduce expenditures no more than 25% in any single year to comply with the mandate.