SDE issues revised mid-year adjustment for school districts

OKLAHOMA CITY (Feb. 3, 2015) — The State Department of Education yesterday issued a revised mid-year adjustment reflecting a 1992 law that affects how ad valorem is calculated in state aid to school districts.

Districts were notified last month that the mid-year adjustment released Jan. 15 had not yet factored in the ad valorem change. The delay was unavoidable as SDE staffers worked with the Oklahoma Tax Commission to collect the data necessary.

“The change in calculations has been a significant challenge for both the SDE and the Tax Commission, yet we have successfully partnered to complete this new process,” said state Superintendent of Public Instruction Joy Hofmeister. “I am thankful for the SDE team that worked tirelessly to ensure the re-calculations were done accurately and as quickly as possible. Similarly, I am grateful to all the districts and schools for their patience and professionalism during this challenging time.”

To ensure compliance with the 23-year-old law, Hofmeister had directed SDE to temporarily retain $20 million from the Jan. 15 mid-year adjustment. Of that amount, $16.3 million will next be distributed to districts receiving increased allocations as a result of the 1992 law.

That statute relates to the ad valorem cap on agricultural and commercial personal property.

Payments to the impacted districts will be made this week.

The revised adjustment is available online at http://sde.ok.gov/sde/notice-allocation.

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