(HT) Funding Formula BAD HB 59 8-12-13-a

State Share Index

District Adjusted Valuation per pupil = District 3-year average valuation / FY 2014 ADM

Valuation per pupil index = District adjusted valuation per pupil / State adjusted valuation per pupil

Median income index = District Ohio adjusted gross median income for TY 2011 / Median of all districts' adjusted gross median incomes for TY 2011

If median income index < valuation per pupil index, then Wealth index = 1/3 x median income index + 2/3 x valuation per pupil index, else

Wealth index = Valuation per pupil index

If wealth index <= 0.35, then State share index = 90%; If wealth index > 0.35 and <= 0.9, then State share index = 50% + 40% x (0.9 – wealth index) / 0.55; If wealth index > 0.9 and < 1.8, then State share index = 5% + 45% x (1.8 – wealth index) / 0.9; If wealth index >= 1.8, then State share index = 5%