N.J. Admin. Code § 6A:23A-18.8

Current through Register Vol. 56, No. 17, September 3, 2024

Section 6A:23A-18.8 - Public school placement restricted working capital fund

(a) For nonprofit APSSDs, the tuition rate may include an amount that will permit the APSSD to establish a public school placement restricted working capital fund of up to 15 percent of the APSSD's actual allowable costs. However, the APSSD shall not include in the certified actual cost per student an amount in excess of 2.5 percent of the APSSD's actual allowable costs per year. The restricted working capital fund shall not exceed 15 percent of an APSSD's actual annual allowable cost in a fiscal year.

(b) Interest and/or dividends earned from the investment of tuition funds shall be netted against the APSSD's total allowable costs incurred in account numbers classified as undistributed expenditures-central when calculating the certified actual cost per student.

(c) Interest earned in accordance with N.J.A.C. 6A:23A-18.3(h) shall be unrestricted revenue and shall not part of the APSSD's public school placement restricted working capital fund computation.

N.J. Admin. Code § 6A:23A-18.8

Amended by 49 N.J.R. 1855(a), effective 7/3/2017