FY2017 State Aid - Reduction to March State Aid Formula Payment

Based on available funds, the State Aid formula payment for the month of March will be paid at the accumulative amount of 70.96 percent instead of the scheduled 72 percent of the current adjusted allocation.  Revenue collections for the March State Aid payment are approximately $18.9 million short of the funds needed to make the scheduled 72 percent payment. 

The March payment, available to districts on Thursday, March 16, is based on funds collected as of March 14, 2017.  To calculate your payment, use the most current adjusted allocation times accumulated percentage minus paid to date equals the amount of payment.  The amount of funds collected as of March 14, 2017 is presented below.

• Education Reform Revolving Fund (1017) Adjusted for Revenue Shortfall has collected 64.98 percent of the Adjusted Appropriated $657,802,801
• Common Education Technology Fund has collected 68.45 percent of the Appropriated $41,168,478
• FY17 Mineral Leasing Fund has collected 46.43 percent of the Appropriated $3,610,000
• General Revenue Adjusted Revenue Failure has collected 72.96 percent of the Adjusted Appropriated $1,027,324,288.95
• FY17 OK Lottery Fund has collected 77.20 percent of the Appropriated $23,397,757 

Your Notice of Payment report can be found under Payment Notices in Single Sign On at https://sdeweb01.sde.ok.gov/SSO2/Signin.aspx.  For your convenience, a report showing the 72 percent compared to the 70.96 percent is located under Important Notices on the State Aid Web page at http://sde.ok.gov/sde/state-aid .

 We will be closely monitoring each month's cash and make adjustments as needed.  If you have questions, please contact State Aid.