Nebraska Statutes 79-1006. Foundation aid; calculation
(1) For school fiscal year 2023-24 and each school fiscal year thereafter, the department shall determine the foundation aid to be paid to each school district in accordance with subsection (2) of this section.
Terms Used In Nebraska Statutes 79-1006
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- School: means a school under the jurisdiction of a school board authorized by Nebraska Statutes 79-101
- Year: shall mean calendar year. See Nebraska Statutes 49-801
(2) The foundation aid to be paid to each school district in each school fiscal year shall equal one thousand five hundred dollars multiplied by the number of formula students for such school district.
(3) Twenty-four percent of the total amount of foundation aid paid each school fiscal year shall be paid from money appropriated from the Education Future Fund.
(4) For school fiscal years 2023-24 and 2024-25, one hundred percent of foundation aid shall be included as a formula resource pursuant to section 79-1017.01. For school fiscal year 2025-26 and each school fiscal year thereafter, sixty percent of foundation aid shall be included as a formula resource pursuant to section 79-1017.01.