(HT) Funding Formula BAD HB 59 8-12-13-a

Targeted Assistance – Tier One

Local (District) Wealth Per-pupil** = 0.50 X (district 3-year average valuation / formula ADM) + 0.50 X (average of total adjusted gross income of district residents for the 3 most recent years / Formula ADM)

** The Threshold Local Wealth Per-pupil = this calculation for the 490 th lowest wealth district

Rank districts in order of Local Wealth Per-pupil from lowest to highest

Statewide Wealth Per-pupil = 0.50 X (3-year average valuations for all school districts / sum of formula ADM for all school districts) + 0.50 X (sum of 3-year average total federal adjusted gross income for all districts / sum of formula ADM for all school districts)

Wealth Index = Statewide Wealth Per-pupil / Local Wealth Per-pupil

See previous slide –

“ Tier One Targeted Assistance Calculation

”” for district total