Based on available funds, the State Aid formula payment for the month of May will be paid at the accumulative amount of 88.62 percent instead of the scheduled 91 percent of the current adjusted allocation. Revenue collections for the May State Aid payment are approximately $43.1 million short of the funds needed to make the scheduled 91 percent payment. The accumulative percentage of 88.62 percent includes the total amount short for this fiscal year updated for cash received through May. The cash flow shortage of $43.1 million for the May payment supersedes the $36.3 million for the March and April payments.
The May payment, available to districts on Thursday, May 11, is based on funds collected as of May 9, 2017. To calculate your payment, use the most current adjusted allocation times accumulated percentage minus paid to date to equal the amount of payment. The amount of funds collected as of May 9, 2017, is presented below.
- Education Reform Revolving Fund (1017) Adjusted for Revenue Shortfall has collected 84.13 percent of the Adjusted Appropriated $657,802,801
- Common Education Technology Fund has collected 85.50 percent of the Appropriated $41,168,478
- FY17 Mineral Leasing Fund has collected 52.57 percent of the Appropriated $3,610,000
- General Revenue Adjusted Revenue Failure has collected 90.91 percent of the Adjusted Appropriated $1,027,324,288.85
- FY17 OK Lottery Fund has collected 92.96 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 91 percent compared to the 88.62 percent is located under Important Notices on the State Aid Web page at http://sde.ok.gov/sde/state-aid.
If you have questions, please contact State Aid at the number below.