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6-5-302. Allocation and transfer of funds.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-5-302. Allocation and transfer of funds.
From the moneys accruing to the Educational Excellence Trust Fund, the Treasurer of State on the last day of the month shall transfer to the various funds and fund accounts listed below, the amounts determined by applying each fund or fund account's proportionate part of the total of all such allocations set forth in this section to the amount available for distribution as determined in § 6-5-301:
FISCAL YEAR ENDING Fund or Fund Accounts June 30, 2002 June 30, 2003 & Thereafter Department of Education Public School Fund Account $161,935,727 $164,138,382 Department of Career Education Public School Fund Account 9,518,065 10,032,555 Department of Education Fund Account 762,901 804,138 Department of Career Education Fund Account 2,856,557 3,010,965 Higher Education Grants Fund Account 10,499,767 11,067,322 School for Math, Sciences, and Arts Fund 0 5,988,465 Institutions of Higher Education: Arkansas State University Fund 4,797,713 5,057,049 Arkansas Tech University Fund 1,608,226 1,695,157 Henderson State University Fund 1,663,634 1,753,560 Southern Arkansas University Fund 983,576 1,036,743 University of Arkansas Fund 11,905,301 12,548,830 University of Arkansas at Little Rock Fund 4,224,809 4,453,177 University of Arkansas Medical Center Fund 7,274,293 7,667,498 University of Arkansas Medical Center Fund - Indigent Care 181,013 190,797 University of Arkansas at Monticello Fund 848,858 894,742 University of Arkansas at Pine Bluff Fund 1,473,599 1,553,253 University of Central Arkansas Fund 3,661,359 3,859,270 Arkansas State University-Beebe Fund 1,144,646 1,206,518 East Arkansas Community College Fund 599,022 631,401 National Park College Fund 895,921 944,349 Arkansas Northeastern College Fund 573,810 604,827 North Arkansas Co
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-5-302
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:6-5-302
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 50971fbcb4f31b234de3960ad2b2f9bbe3ae501c030fa1c5ca198baf74d6ede5
Source location: content.xml paragraph 1175
Stored source content
6-5-302. Allocation and transfer of funds.
From the moneys accruing to the Educational Excellence Trust Fund, the Treasurer of State on the last day of the month shall transfer to the various funds and fund accounts listed below, the amounts determined by applying each fund or fund account's proportionate part of the total of all such allocations set forth in this section to the amount available for distribution as determined in § 6-5-301:
FISCAL YEAR ENDING Fund or Fund Accounts June 30, 2002 June 30, 2003 & Thereafter Department of Education Public School Fund Account $161,935,727 $164,138,382 Department of Career Education Public School Fund Account 9,518,065 10,032,555 Department of Education Fund Account 762,901 804,138 Department of Career Education Fund Account 2,856,557 3,010,965 Higher Education Grants Fund Account 10,499,767 11,067,322 School for Math, Sciences, and Arts Fund 0 5,988,465 Institutions of Higher Education: Arkansas State University Fund 4,797,713 5,057,049 Arkansas Tech University Fund 1,608,226 1,695,157 Henderson State University Fund 1,663,634 1,753,560 Southern Arkansas University Fund 983,576 1,036,743 University of Arkansas Fund 11,905,301 12,548,830 University of Arkansas at Little Rock Fund 4,224,809 4,453,177 University of Arkansas Medical Center Fund 7,274,293 7,667,498 University of Arkansas Medical Center Fund - Indigent Care 181,013 190,797 University of Arkansas at Monticello Fund 848,858 894,742 University of Arkansas at Pine Bluff Fund 1,473,599 1,553,253 University of Central Arkansas Fund 3,661,359 3,859,270 Arkansas State University-Beebe Fund 1,144,646 1,206,518 East Arkansas Community College Fund 599,022 631,401 National Park College Fund 895,921 944,349 Arkansas Northeastern College Fund 573,810 604,827 North Arkansas College Fund 353,775 372,898 Northwest Arkansas Community College Fund 791,763 834,561 Phillips Community College of University of Arkansas Fund 583,366 614,899 University of Arkansas Community College at Rich Mountain Fund 158,120 166,667 SAU-Tech Fund 256,801 270,683 South Arkansas Community College Fund 409,688 431,833 University of Arkansas at Fort Smith Fund 2,437,691 2,569,458 TOTAL INSTITUTIONS OF HIGHER EDUCATION $46,826,984 $49,358,170
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Arkansas Code — all titles (historical 2020) · legal_authorities
6-5-301. Creation — Funding.
(a)(1) There is hereby established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Educational Excellence Trust Fund”.
(2) For each of the state's fiscal years, the Chief Fiscal Officer of the State shall determine as an annual allocation for this fund an amount based on the total net general revenues as enumerated in § 19-6-201(1) and (2), which were collected in the immediate past year, times a factor of 0.1414.
(b)(1) On the last day of each month of the respective fiscal year, the Chief Fiscal Officer of the State shall certify to the Treasurer of State an amount based on one-twelfth (1/12) of the annual allocation determined in subsection (a) of this section for transfer to the fund.
(2) The Treasurer of State shall make such transfer after making the deductions required from the net general revenues as set out in § 19-5-202(b)(2)(B)(i).
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-5-301
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 6-5-301. This identifies an authority to review, not proof of applicability.