Approach and Formula Sample Clauses

Approach and Formula. During the development of each fiscal year’s budget, the total capital costs, exclusive of principal and interest debt service payments, for the year in question will be identified. Each member town will then be assessed a percentage of that total capital cost. One-half of each town’s percentage will be based upon “foundation enrollment” as defined in G.L. chapter 70, section 2, based upon a five year rolling average. That is, for the year in question one-half of a given town’s capital assessment will be based upon the percentage that that member’s foundation enrollment for the preceding five years relates to the foundation enrollment for the entire District during those preceding five years when the foundation enrollment figures for those five years are averaged. The other half of each town’s percentage of the total capital cost will be based upon the “combined effort yield” as defined and calculated by the Department of Elementary and Secondary Education, based upon a five year rolling average. That is, for the year in question the other half of a given town’s capital assessment will be based upon the percentage that that member’s combined effort yield for the preceding five years relates to the combined effort yield for the entire District, when the combined effort yield figures for those five years are averaged.
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Related to Approach and Formula

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