The azimuth Constitution and Title 15 of the Arizona revise Statutes, which were enacted into law by the Arizona Legislature, govern School work out and Finance systems in Arizona. School districts are required by law to follow the prescribed reckon formulas to determine the cypher available to that school district. Several factors must be taken into account and guidelines followed when budget formulas are being constructed.
Arizonas school pay process uses a lot of acronyms that refer to specific sections of the budget and their revenue sources. Some of these are historical. Prior to 1980, Arizona school districts funded their budgets primarily from local home taxationes. Although they did receive state wait on on a per pupil basis, it was supplementary and there was no restriction on local expenditures other than they had to spend it every(prenominal) each category because none could be carried over. The property tax portion of their budget had an exception, called 30/60 levies, which allowed schools to levy a thirty cent tax rate (unified districts could levy 60 cents) on whatever property they had in their districts and accumulate it from year to year in a cracking reserve.
In 1980, the Arizona Legislature implemented a major school pay reform that radically changed how schools were budgeted.
All school districts were given skillful spending limit amounts per pupil for maintenance and operation (M& adenylic acid;O) expenses in one budget and precise amounts per pupil in another budget for capital. This ?equalization formula? was implemented so as to provide equal dollars per pupil for school trading operations through a balancing of the local Qualifying property Tax Rate (QTR) and state financial assistance. The idea was to harbor the amount of revenue that school districts could raise, and the M&O limit was called the Revenue Control Limit (RCL), while the capital limit was...
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