District of Columbia § 38-2910 Procedure for adjusting appropriation in case of revenue unavailability.

District of Columbia Statutes

§ 38-2910 — Procedure for adjusting appropriation in case of revenue unavailability.

District of Columbia·Title 38 Educational Institutions.·Ch. 29 Uniform Per Student Funding Formula.·Subch. I General.

If in any given fiscal year the Council finds that full funding of the Formula from local revenues is inconsistent with legal requirements for a balanced budget, the following shall apply:

(1)The Council shall reduce the foundation level accordingly, and set a schedule for achieving or restoring full funding, however, funding shall not be less than 95% of the previous fiscal year’s funding; and

(2)The Mayor, Council, Superintendent/CEO, and Board of Education shall use their best efforts to obtain temporary supplemental funding from other revenue sources.

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If in any given fiscal year the Council finds that full funding of the Formula from local revenues is inconsistent with legal requirements for a balanced budget, the following shall apply:

(1) The Council shall reduce the foundation level accordingly, and set a schedule for achieving or restoring full funding, however, funding shall not be less than 95% of the previous fiscal year’s funding; and

(2) The Mayor, Council, Superintendent/CEO, and Board of Education shall use their best efforts to obtain temporary supplemental funding from other revenue sources.

District of Columbia § 38-2910 (Procedure for adjusting appropriation in case of revenue unavailability.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.