N.J. Admin. Code § 6A:26-3.8

Current through Register Vol. 56, No. 12, June 17, 2024

Section 6A:26-3.8 - Determination of State support for school facilities projects

(a) State support for school facilities projects shall be determined as follows:

1. State debt service aid for projects approved on or after July 18, 2000, shall be calculated as follows:

Aid is the sum of A for each issuance of school bonds issued for a school facilities project approved by the Commissioner on or after July 18, 2000, where:

A = B [times] AC/P [times] DAP [times] M, with AC/P = 1

whenever AC/P would otherwise yield a number greater than one, and where:

B is the school district's debt service for the individual issuance for the State fiscal year;

AC is the preliminary eligible costs determined pursuant to section 7 of EFCFA;

P is the principal of the individual issuance plus any other funding sources approved for the school facilities project;

DAP is the district aid percentage as defined pursuant to 18A:7G-3, except that DAP shall not be less than 40 percent and, for county special services school districts, DAP is that of the county vocational school district in the same county; and

M is a factor representing the degree to which a school district has fulfilled maintenance requirements for a school facilities project, and shall be 1.0 except when a different maintenance factor is required by N.J.S.A. 18A:7G- 9.

2. State debt service aid for school facilities projects approved prior to July 18, 2000, shall be calculated as follows:

Aid is the sum of A where

A = B [times] CCSAID/TEBUD and where

B is the school district's total debt service or lease purchase payment for the individual issuance for the State fiscal year;

CCSAID is the school district's core curriculum standards aid amount determined pursuant to 18A:7F-15; and

TEBUD is the school district's T & E budget determined pursuant to 18A:7F-13.

For county special services school districts, CCSAID/TEBUD shall be that of the county vocational school district in the same county.

3. The amount of a grant shall be determined as follows:

i. The State share payable to the school district shall equal the product of the school facilities project's final eligible costs and the district aid percentage or 40 percent, whichever is greater. The Development Authority shall provide grant funding for the State share pursuant to an agreement between the school district and the Development Authority, which shall set forth the terms of disbursement of the State share in addition to other terms and conditions.

(1) All grants and the corresponding local share shall be accounted for separately by project in the capital projects fund in accordance with N.J.A.C. 6A:26-4;

(2) Local share budgeted in capital outlay shall be transferred to the capital projects fund upon execution of the grant agreement with the Development Authority. Any unexpended transferred capital outlay funds remaining after completion of the school facilities project shall be transferred to the general fund in the current year or reserved and designated in the subsequent year's general fund budget.

N.J. Admin. Code § 6A:26-3.8

Amended by R.2001 d.367, effective 10/1/2001.
See: 33 N.J.R. 1809(a), 33 N.J.R. 3482(a).
In (a), deleted "school" preceding "district" throughout 1 and 2, and inserted N.J.A.C. reference in 3i(1).
Amended by R.2004 d.214, effective 6/7/2004.
See: 36 N.J.R. 243(a), 36 N.J.R. 2733(b).
In (a)3i(2), rewrote the second sentence.
Amended by R.2007 d.81, effective 3/19/2007.
See: 38 N.J.R. 4533(a), 39 N.J.R. 899(a).
Inserted "school" preceding "district's", "districts" and "district" throughout.
Amended by R.2013 d.145, effective 12/16/2013.
See: 45 N.J.R. 1026(a), 45 N.J.R. 2557(a).
In the introductory paragraph of (a)1 and of (a)2, inserted a comma following "2000"; in the equation in (a)1, substituted "DAP x M" for "(DAP x 1.15) x M" and deleted "X 1.15" following "except that DAP"; in the equation in (a)2; deleted the first occurrence of "school" following "services"; rewrote the introductory paragraph of (b)3i; and in (b)3i(2), inserted "Development".