15-1464

15-1464. State aid per capita distribution for
capital outlay; capital outlay fund; appropriation

A. In addition to the appropriation prescribed in section 15-1463, subsection A,
this state shall pay to each community college district state aid for capital outlay in
the following manner:

1. For fiscal year 1992-1993 for a community college district which had less than
five thousand actual full-time equivalent students according to the most recent fiscal
year actual full-time equivalent student count, the amount determined by multiplying the
number of actual full-time equivalent students according to the most recent fiscal year
actual full-time equivalent student count by two hundred seven dollars.

2. For fiscal year 1992-1993 for a community college district which had five
thousand or more actual full-time equivalent students according to the most recent fiscal
year actual full-time equivalent student count, the amount determined by multiplying the
number of actual full-time equivalent students according to the most recent fiscal year
actual full-time equivalent student count by one hundred fifty-eight dollars.

3. Beginning with fiscal year 1993-1994 the legislature shall adjust by the growth
rate for common and high school districts as provided by law, subject to appropriation,
the amount of state aid to community college districts as provided in paragraphs 1 and 2.

B. The basis for computing full-time equivalent students for the capital outlay per
capita distribution shall be on the same basis as the computation prescribed in section
15-1466.01.

C. In addition to the formula to determine the appropriations prescribed in section
15-1463, subsection A and subsection A of this section, this state may pay additional
amounts for capital outlay to a community college district based on requests from the
district.

D. Appropriations for capital outlay made pursuant to subsections A and C of this
section and section 15-1463 shall be made to an account designated as the capital outlay
fund.

E. At the beginning of each fiscal year, the district board shall present to the
department of administration a claim for the annual amount appropriated by the
legislature and assigned to the district for capital outlay purposes. The department of
administration shall draw a warrant in payment of the claim and shall transmit the
warrant to the state treasurer who shall disburse the funds to the district for capital
outlay purposes, to be expended as provided by law. If no community college exists, the
department shall establish a fund for new future community college districts to be
disbursed as needed.

F. Notwithstanding subsection E of this section, a community college district may
request the state treasurer to disburse the monies to the local government investment
pool for deposit into the district's account as established in section 35-326.

G. Each district has the option of using up to twenty per cent of its total capital
outlay aid appropriation for operating aid purposes or taking this same amount out of the
district's total operating state aid appropriation and using it for capital outlay
purposes.