- (a) By June 30 of each year, a school district shall expend a minimum of eighty-five percent (85%) of the school district's current-year enhanced student achievement funding allocation in a manner permitted under this part.
- (b) Enhanced student achievement funding carried over from one (1) fiscal year to the next shall remain restricted to areas as defined in law or this part unless otherwise allowed by law or rule.
- (c) A school district that on June 30 of any year has an enhanced student achievement funding balance in excess of fifteen percent (15%) of the school district's current year enhanced student achievement funding allocation shall reduce its total enhanced student achievement funding balance by at least ten percent (10%) in each year that follows so that by June 30 of each year thereafter, the school district has a balance of no more than fifteen percent (15%) of the school district's current year enhanced student achievement funding allocation.
(d)
- (1) Under an unusual and limited circumstance, including without limitation an increase in one-time funds or an unexpected decrease in school district revenues during a given year, a school district may request that the Division of Elementary and Secondary Education waive the requirements of this section.
- (2) A school district seeking a waiver shall file a waiver request with the Commissioner of Elementary and Secondary Education, accompanied by a resolution adopted by the school district's board of directors, describing the unusual and limited circumstances.
- (3) The commissioner may grant a waiver request under this section for up to one (1) year if the commissioner finds that the request is necessary based upon the unusual and limited circumstances.
- (e) The division shall monitor on a yearly basis each school district's compliance with the requirements of this section.
(f)
- (1) If a school district fails to comply with the requirements of this section during a school year, the division may in the following school year withhold from that school district's enhanced student achievement funding allocation an amount equal to the amount required to be spent by the school district in order to be in compliance with the requirements of this section.
- (2) The division may redistribute amounts withheld under this subsection to other school districts entitled to receive enhanced student achievement funding allocations.