Iowa Code 257.14 – Budget adjustment
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1. For the budget year commencing July 1, 2016, and succeeding budget years, a school district shall be eligible for a budget adjustment in an amount equal to the difference between the regular program district cost for the budget year and one hundred one percent of the regular program district cost for the base year.
Terms Used In Iowa Code 257.14
- Base year: means the school year ending during the calendar year in which a budget is certified. See Iowa Code 257.2
- Budget adjustment: means an adjustment to the regular program district cost of a school district for school districts in which the regular program district cost for a year would be less than the regular program district cost for the previous year. See Iowa Code 257.2
- Budget year: means the school year beginning during the calendar year in which a budget is certified. See Iowa Code 257.2
- School: means an agency of the state or political subdivision of the state, individual, partnership, company, firm, society, trust, association, corporation, or any combination which meets any of the following criteria:a. See Iowa Code 261B.2
- School district: means a school corporation organized under chapter 274. See Iowa Code 257.2
- year: means twelve consecutive months. See Iowa Code 4.1
2. The board of directors of a school district that wishes to receive a budget adjustment for a budget year pursuant to this section shall adopt by May 15 of the base year for which the budget adjustment is sought, a resolution to receive the budget adjustment and shall notify the department of management of the adoption of the resolution and the amount of the budget adjustment to be received.