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| SPONSOR: | Cisneros | DATE TYPED: | 01/31/01 | HB | |||
| SHORT TITLE: | Red River Charter School Appropriation | SB | 52 | ||||
| ANALYST: | Gilbert | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY01 | FY02 | FY01 | FY02 | ||
| $ 100.0 | Recurring | GF | |||
(Parenthesis ( ) Indicate Expenditure Decreases)
Conflicts with Section 22-8B-14
SOURCES OF INFORMATION
LFC Files
State Department of Education (SDE)
SUMMARY
Synopsis of Bill
Senate Bill 52 appropriates $100.0 to the Charter School Stimulus Fund for expenditure in FY01 and FY02 to provide start-up funding for the Red River Charter School. This bill contains an emergency clause.
Significant Issues
Appropriations to the Charter School Stimulus Fund are allocated to the SDE to provide financial support to New Mexico charter schools for initial start-up costs and costs associated with renovation or remodeling existing buildings. Appropriations to the fund are non-reverting.
The State Department of Education (SDE) is allowed to keep three percent of funds allocated to the Charter Stimulus Fund for administrative expenses.
Red River Charter School received $25,000 from the Charter School Stimulus Fund in November of 2000. This bill would provide Red River Charter School with additional funding.
FISCAL IMPLICATIONS
The appropriation of $100.0 contained in this bill is a recurring expense to the general fund. Any unexpended or unencumbered balance remaining at the end of FY02 shall revert to the general fund. This bill contains an emergency clause.
TECHNICAL ISSUES
According to the SDE, Section 22-8B-14 states that appropriations in the Charter School Stimulus Fund shall not revert to the general fund at the end of the fiscal year. This bill creates a conflict with existing law since it states that funds remaining at the end of FY02 shall revert to the general fund.