Disbursement of District Per Pupil Revenue Funding. Commencing on July 1 of each fiscal year of the Contract term, District per pupil revenue funding as described in Section 7.1.A shall be disbursed to the School in quarterly installments at the beginning of each quarter on July 1, October 1, January 1 and March 1, subject, however, to annual appropriation and the District’s receipt of the funding. The funding for the first and second quarters, July through December, shall be based on the School’s enrollment projections submitted in accordance with Section 7.4 for schools holding their funds in the District and shall be based on student enrollment as reported through the District’s student information systems for schools moving their funds outside of the district.
Disbursement of District Per Pupil Revenue Funding. The District will disburse per pupil revenue funding to the School as follows:
1. On July 15th of each District fiscal year, twenty-five percent (25%) of the District funding provided for projected pupil membership on October 1st of that year shall be allocated to the School. It is understood and agreed that this July 15th installment will be remitted only upon the District receiving all of the following: the School’s approved budget as required by Section 18.A of this contract, proof of insurance, the School’s calendar, the School’s board member roster, contact information, and disclosure information using forms supplied by the District, replacement policies for District policies that have been waived by the Board of Education, and, in each year following the first year of operations, proof of previous year’s pension and COP payments, and fire drill records. The Parties acknowledge that such conditions placed on receipt of funds are authorized under C.R.S § 22-30.5-105(2).
2. On October 15th of each year, twenty-five percent (25%) of the funding provided for projected pupil membership on October 1st of that year shall be made available to the School. It is understood and agreed that the October 15th installment will be remitted only upon the District receiving the following: an emergency plan for the current year and, in each year after the first year of operation, a successfully completed annual audit conducted by an independent auditor using GASB #34 accounting guidelines; the fiscal year-end trial balance; and an annual review of the School’s academic, operational, and financial performance in a format agreed to by the District. If a successfully completed financial audit, as required in this paragraph, is not received by September 15th, the October 15th payment, and all subsequent payments due under this Contract, shall be withheld until such time that the School submits the required audit and trial balance.
3. The remaining state funds adjusted to reflect the official pupil membership on October 1st of that school year and Colorado Department of Education calculation of the District’s per pupil funding payable under this Contract shall be disbursed on or before January 15th each year upon the District receiving the first quarter budget versus expenditure report.
Disbursement of District Per Pupil Revenue Funding. Commencing on July 1 of each fiscal year of the contract term, District per pupil revenue funding as described in Section 7.1.A shall be disbursed to the School in monthly installments, subject however, to annual appropriation and the District’s receipt of the funding. The first and second quarters, July through December, funding shall be based on the School’s enrollment projections submitted in accordance with Section 7.4, and Funding for January and subsequent months of each fiscal year shall be based on student enrollment as reported to CDE and adjusted pursuant to Subsection B below.
