5.01 The number of all licensed full-time equivalents (FTEs) not paid with federal funds in each school district will be used to calculate the amount of Program funds a school district is eligible to receive.
5.02 The amount of Program funds a school district is eligible to receive each year shall be calculated as follows:
5.02.1 Subtract each school district's minimum teacher salary for the prior school year for a teacher with a bachelor's degree and zero (0) years of experience from the minimum salary indicated by the school district for the current year, up to $36,000.
5.02.2 Multiply the amount in 5.02.1 by the school district's 2017-2018 FTE count for licensed personnel not paid with federal funds.
5.02.3 Multiply the result from 5.02.2 by the current rate of Federal Insurance Contributions Act (FICA) tax and teacher retirement employer matching rate.
5.02.4 Add the result of 5.02.3 to the result of 5.02.2 to determine the total amount necessary for the district to increase salaries and fringe.
Credits
Adopted emergency effective July 20, 2019.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 005.28.2-5.00, AR ADC 005.28.2-5.00
