S.D. Admin. R. 24:59:02:03

Current through Register Vol. 51, page 67, December 16, 2024

Section 24:59:02:03 - Formula for funding

The postsecondary technical institutes colleges shall receive state funding, from the amount appropriated by the Legislature less funds reserved in § 24:59:02:02, under a formula that distributes these funds based on full-time equivalent students as follows:

(1) Subtract the total set-asides reserved in § 24:59:02:02 from the total amount appropriated by the Legislature within the general appropriations act for operating expenses;

(2) Determine the number of full-time equivalent students at each institution college for the preceding fiscal year using the following calculation:

(a) One "full-time equivalent student" equals 30 credit hours of instruction;

(b) The number of full-time equivalent students for a college institution is calculated by dividing tuition collected revenue for the preceding fiscal year by program as per chart of accounts prescribed within the South Dakota School District Accounting Manual by the tuition fee per credit and the quotient is divided by 30 credit hours;

(3) Multiply the number of full-time equivalent students at each institution college by the per student allocation to determine the total allocation for the distribution formula. The distribution formula is as follows:

(a) "Per student allocation," for school fiscal year 2020 is $3,610.32 is an amount set by the South Dakota Board of Technical Education, taking into account the available operating funds and the anticipated number of full-time equivalent students;

(b) Twenty-five percent (25%) of the total allocation will be distributed equally among the four institutions colleges as a baseline for common operations at each technical institute college. The funds shall be divided by four (4);

(c) Seventy-five percent (75%) of the total allocation will be distributed within three program categories: high cost-low density programs, high cost programs, and standard cost programs. The funds shall be distributed by determining each program's full-time equivalent students, multiplied by the weighted program factor multiplied by the weighted per student value;

(d) The executive director will identify the weighted program factor of each program documented on the South Dakota School District Accounting Manual;

(e) The weighted per student value is determined by the allocation divided by adding the total high cost-low density program's full-time equivalent students multiplied by a weighted program factor, plus the total high cost program's full-time equivalent students multiplied by a weighted program factor, plus the total standard cost program's full-time equivalent students by a weighted program factor.

S.D. Admin. R. 24:59:02:03

Transferred from 24:10:42:28, 44 SDR 184, effective 6/25/2018; 45 SDR 130, effective 4/29/2019; 45 SDR 158, effective 7/1/2019; 47 SDR 042, effective 10/12/2020

General Authority: SDCL 13-39A-18, 13-39A-21.

Law Implemented: SDCL 13-39A-18, 13-39A-21.