(a) Notwithstanding Sections 41203.5 and 41206 and any other provision of law, the minimum funding obligation for school districts and community college districts pursuant to subdivision (b) of § 8 of Article XVI of the California Constitution for the 2008-09 fiscal year is forty-nine billion one hundred two million forty-one thousand dollars ($49,102,041,000). The maintenance factor created pursuant to subdivision (d) of § 8 of Article XVI of the California Constitution for the 2008-09 fiscal year, together with the balances of maintenance factor obligations for prior fiscal years that are unpaid as of June 30, 2009, totals eleven billion two hundred twelve million nine hundred nine thousand dollars ($11,212,909,000). The maintenance factor shall be appropriated and allocated pursuant to subdivision (e) of § 8 of Article XVI of the California Constitution.

(b) For the 2009-10 fiscal year, computations of funding obligations pursuant to § 8 of Article XVI of the California Constitution shall be based on the amount of the minimum funding guarantee for the 2008-09 fiscal year, and the amount of the maintenance factor obligation set forth in subdivision (a) of this section.

Terms Used In California Education Code 41207.2

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.

(c) The computations required by subdivision (b) of § 8 of Article XVI of the California Constitution for a fiscal year shall be performed prior to, and separately from, the computation of the maintenance factor allocation identified in subdivision (a) of this section and required by subdivision (e) of § 8 of Article XVI of the California Constitution.

(Added by Stats. 2009, 4th Ex. Sess., Ch. 3, Sec. 3. Effective July 28, 2009. Conditionally inoperative as prescribed in Sec. 7 of Ch. 3.)

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