(A) For fiscal years 2024 and 2025, the department of education shall pay temporary transitional aid to each joint vocational school district according to the following formula:

Terms Used In Ohio Code 3317.162

  • 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.
  • funding base: means , for a city, local, or exempted village school district, the sum of the following as calculated by the department:

    (1) The district's "general funding base" which equals the amount calculated as follows:

    (a) Compute the sum of the following:

    (i) The amount calculated for the district for fiscal year 2020 under division (A)(1) of Section 265. See Ohio Code 3317.02

(The district’s funding base, as that term is defined in section 3317.02 of the Revised Code) – (the district’s payment under section 3317.16 of the Revised Code for the fiscal year for which the payment is computed)

If the computation made under division (A) of this section results in a negative number, the district’s funding under division (A) of this section shall be zero.

(B) If a joint vocational school district begins receiving payments under section 3317.16 of the Revised Code for fiscal year 2024 or fiscal year 2025 but does not receive payments for the fiscal year immediately preceding that fiscal year, the department shall establish the district’s funding base, as that term is defined in section 3317.02 of the Revised Code, as an amount equal to the absolute value of the sum of the associated adjustments of any local school district’s funding base under division (C) of section 3317.019 of the Revised Code.

Last updated August 22, 2023 at 4:58 PM

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