P. O. BOX 2120

May 17, 1996


TO: Division Superintendents
FROM: William C. Bosher, Jr.
Superintendent of Public Instruction
SUBJECT: Fiscal Year 1996-97 Monthly Payment Plan - State Funds

  Listed below is the payment schedule for those SOQ accounts
  which will be paid by electronic fund transfer (EFT) on a
  monthly payment schedule for 1996-97.
  Bi-monthly on 15 & 30th EFT Basic Aid
                              Retirement (Instructional &
                              Social Security (Instructional
                                & Non-Instructional)
                              Vocational Ed (SOQ)
                              Remedial Ed
                              At Risk
                              Special Ed (SOQ)
                              Gifted Ed
  Quarterly on last 30th EFT  Maintenance Supplement
                              Harper Settlement
                              K-3 (beginning in December)
                              Salary Supplement (beginning
                                in March)
  With the exception of K-3, all of these accounts will be
  adjusted once March 31, 1997 ADM is received.  Enrollment
  Loss and No Loss will be transferred once ADM is finalized. 
  Fifty percent of Remedial Summer School payments will be
  sent in August and the balance in October when actual
  enrollment is collected.  Group Life will be made in 2
  payments - rollover payment in July and noninstructional in
  Supts. Memo. No.  30
  May 17, 1996
  Current estimates of March 31, 1997 ADM will be revalidated
  this fall based on actual September 30, 1996 membership.  If
  the new estimates differ significantly from the current
  estimates, the accounts  will be recalculated using the new
  values.  If the estimates do not differ significantly,
  payments will continue to be made on the current estimates
  until actual March 31, 1997 ADM is known.
  Payments will be made on the estimated entitlements as
  projected in Regulatory Supts. Memo. No. 3, dated April 5,
  1996 for the following accounts:
     1.   Basic Aid, Salary Supplement, Gifted Education,
          Retirement, Social Security, Textbooks,
          Maintenance Supplement, Harper Settlement - These
          accounts are calculated on adjusted ADM.
     2.   Vocational Ed (SOQ), Special Education (SOQ),
          Remedial Education, At-Risk - These entitlements
          are calculated on unadjusted ADM.
     3.   Reduced K-3 Class Size - September 30, 1996
          membership to be paid quarterly, beginning in
          December, 1996.
     4.   Dropout Prevention (Project Yes), Truancy and At
          Risk Four-Year Old Program - 50% of this payment
          will be transferred once the application has been
          approved and the remaining 50% will be transferred
          in February, 1997.
     5.   Composite Index Transition - This entitlement 
          will be paid in one lump sum in September, 1996.
     6.   SOL Staff Development - This entitlement will be
          paid in one lump sum in July, 1996.
  Comments or question should be addressed to Mrs. June Eanes,
  Budget Director, at (804) 225-2060 or Mrs. Leigh H.
  Williams, Budget Analyst, at (804) 225-2031.