STEP ONE: Determine the amount of assessments, grants, and gifts received by the council in each of the preceding five (5) fiscal years beginning with the immediately preceding fiscal year.
STEP TWO: Determine the average annual amount of assessments, grants, and gifts received by the council in each fiscal year using three (3) of the five (5) fiscal years described in STEP ONE after excluding the two (2) years in which the amount of assessments, grants, and gifts received by the council were the highest and lowest totals.
STEP THREE: Divide the amount in STEP TWO by ten (10).
The amount in STEP THREE is the maximum amount that the council may expend on administering this chapter for the current fiscal year.
IC 15-15-12-29
Pre-2008 Recodification Citation: 15-4-10-24.