15-979

15-979. Instructional improvement fund

(Caution: 1998 Prop. 105 applies.)

A. The instructional improvement fund is established consisting of monies deposited
pursuant to sections 5-601.02(H)(3)(a)(i) and 5-601.02(H)(3)(b)(i), and interest earned
on those monies. The department of education shall administer the fund. The fund is not
subject to appropriation, and expenditures from the fund are not subject to outside
approval notwithstanding any statutory provision to the contrary.

B. Monies received pursuant to section 5-601.02 shall be deposited directly with
the instructional improvement fund. On notice from the department of education, the state
treasurer shall invest and divest monies in the fund as provided by section 35-313, and
monies earned from investment shall be credited to the fund. No monies in the
instructional improvement fund shall revert to or be deposited in any other fund,
including the state general fund. Monies in the instructional improvement fund are exempt
from the provisions of section 35-190 relating to the lapsing of appropriations. Monies
provided from the instructional improvement fund shall supplement, not supplant, existing
state and local monies.

C. The department of education shall pay the monies in the fund to school districts
and charter schools. The department of education shall determine the amount of monies
from the fund to be paid to each school district and charter school as follows:

1. Determine the student count for each school district and charter school as
provided in section 15-943.

2. Determine the student count for all school districts and charter schools as
provided in section 15-943.

3. Divide the amount determined in paragraph 1 of this subsection by the total
amount determined in paragraph 2 of this subsection.

4. Multiply the quotient determined in paragraph 3 of this subsection by the total
amount of instructional improvement fund monies available to be distributed to school
districts and charter schools under this section.

D. Each school district and charter school may utilize up to fifty percent of the
amount of monies determined pursuant to subsection C for teacher compensation increases
and class size reduction as provided in section 15-977.

E. Monies that are not utilized as provided in subsection D shall be utilized for
the following maintenance and operation purposes:

1. Dropout prevention programs.

2. Instructional improvement programs including programs to develop minimum reading
skills for students by the end of third grade.

F. School districts and charter schools that receive monies from the instructional
improvement fund shall submit a report by November 15 of each year to the department of
education that provides an accounting of the expenditure of monies distributed from the
fund during the previous fiscal year. The department of education in conjunction with the
auditor general shall prescribe the format of the report under this subsection.