Financial accounting for special needs state funding
Arkansas Code § 6-20-2305; Arkansas Code § 6-48-104
- (a) After having provided programs designed to meet the needs of students in the respective categorical funding areas, a school district may transfer and expend funds on any of the special needs categories allowed for in this part.
- (b) Special needs state funding of ALE, ELL, enhanced student achievement, and professional development may be used for any of the expenditures identified in this part.
- (c) Districts shall report the funds received under each special needs state funding category.
- (d) Districts shall report the expenditures of all special needs state funds as required by law, including but not limited to fund balances remaining on June 30 of each year.
- (e) The funds received, transferred, expended, and carried over shall balance.
- (f) If the Division of Elementary and Secondary Education determines that a district would lose any federal funding due to these explicated expenditure requirements, the special needs state funds may be expended for other academic programs or salaries as permitted by the division.