As used in this part:

1. (1) “Average daily membership (ADM)” means:

   1. (A) The total number of days of school attended; plus
   2. (B) The total number of days absent by students in kindergarten through grade twelve (K-12) during the first three (3) quarters of each school year; divided by
   3. (C) The number of school days actually taught in the school district during that period of time; and
   4. (D) Rounded up to the nearest hundredth;
2. (2) “Declining enrollment funding” means the amount of state financial aid provided to an eligible school district from funds made available for the decline in the ADM of the school district in the preceding school year compared to the school year before the preceding school year;

3. (3)

   1. (A) “Excess net revenues plus calculated miscellaneous funds” means the amount of net revenues plus calculated miscellaneous funds a school district receives that is greater than the foundation funding amount.
   2. (B) “Excess net revenues plus calculated miscellaneous funds” excludes the amount remitted to the Department of Education above ninety-eight percent (98%) of assessed value for the uniform rate of tax;

4. (4) “Net revenues” means:

   1. (A) Actual revenues generated from ad valorem taxes and distributed to a school district; multiplied by
   2. (B) The ratio derived from dividing the uniform rate of tax by the total millage rate of the school district;
5. (5) “Quarterly average daily membership” means the ADM for one quarter (1/4) of a school year used for calculating student growth funding pursuant to 6 CAR § 271-104; and
6. (6) “Student growth funding” means the amount of state financial aid provided to an eligible school district from funds made available for the growth in the ADM of the school district for each sequential quarter beginning with prior fiscal year quarter four (4) and ending with current fiscal year quarter three (3) compared to each corresponding prior fiscal year three-quarter ADM of the school district.