DISTRICT CODE: 512101 STATE AID 2007-08
DISTRICT NAME: MORRISTOWN DATE: SEPT 30, 2008
EDITION NO. 1012
DISTRICT LAST UPDATED ON 09/29/08
NOTE: DATA DISPLAYED IS TENTATIVE PENDING AUDIT
2007-08 FOUNDATION AID OUTPUT REPORT PAGE 1
PART I: CALCULATION OF 2007-08 FOUNDATION AID
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1. 2007-08 ADJUSTED FOUNDATION AMOUNT/PUPIL
(PART II ENT 7) 10,723.82
2. 2007-08 EXPECTED MINIMUM LOCAL CONTRIBUTION
(PART III ENT 3) 2,466.47
3. 2007-08 SELECTED FOUNDATION AID/PUPIL
(GREATER OF 500 OR (ENT 1 - ENT 2)) 8,257.35
4. 2007-08 SELECTED TAFPU FOR 0708 AID (PART IV ENT 23) 510
5. 2007-08 TOTAL FOUNDATION AID (ENT 3 * ENT 4) 4,211,248
6. 2006-07 TOTAL FOUNDATION AID BASE (FAB) (FAB ENT 20) 2,866,581
2006-07 FOUNDATION AID BASE OUTPUT REPORT
7. 2007-08 TAFPU * SELECTED FOUNDATION AID MINUS FAB
(MIN=0) (PHASE-IN OPTION 1) (ENT 5 - ENT 6) 1,344,667
8. 2007-08 12.55% OF FOUNDATION AID BASE
(PHASE-IN OPTION 2) (.1255 * ENT 6) 359,755
9. 2007-08 SELECTED PHASE-IN FOUNDATION INCREASE
(20% OF (MAX ENT 7 OR ENT 8)) 268,933
10. 2007-08 CALCULATED 2007-08 FOUNDATION AID
(ENT 6 + ENT 9) 3,135,514
11. 2007-08 103% OF FAB (1.03 * ENT 6) 2,952,578
12. 2007-08 125% OF FAB (1.25 * ENT 6) 3,583,226
13. 2007-08 AID DUE MINIMUM 3% INCREASE
(IF ENT 10 < ENT 11, THEN ENT 11 MINUS ENT 10, ELSE 0) 0
14. 2007-08 AID DEDUCT 25% MAX INCREASE
(IF ENT 10 > ENT 12, THEN ENT 12 MINUS ENT 10, ELSE 0) 0
15. 2007-08 FOUNDATION AID PAYABLE (ENTS 10 + 13 + 14) 3,135,514
PART II: CALCULATION OF ADJUSTED FOUNDATION AMOUNT (AFA)
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1. 2007-08 FOUNDATION AMOUNT 5,258
2. 2007-08 PHASE-IN FOUNDATION PERCENT 1.0768
3. 2007-08 FOUNDATION AMT ADJUSTED BY PHASE-IN PERCENT
(ENT 1 * ENT 2) 5,662
4. 2007-08 REGIONAL COST INDEX (RCI) FOR 2007-08 AID 1.000
5. 2007-08 EXTRAORDINARY NEEDS % (EN%)(EN COUNT/0607 ENR) 0.894
6. 2007-08 PUPIL NEED INDEX (PNI) (1 + EN%, MIN 1, MAX 2) 1.894
7. 2007-08 ADJUSTED FOUNDATION AMOUNT/PUPIL (AFA)
(ENT 3 * ENT 4 * ENT 6) 10,723.82
PART III: SELECTED EXPECTED MINIMUM LOCAL CONTRIBUTION
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1. 2007-08 EXPECTED MINIMUM LOCAL CONTRIBUTION(A)(ENT 15) 2,885.49
2. 2007-08 EXPECTED MINIMUM LOCAL CONTRIBUTION(B)(ENT 29) 2,466.47
3. 2007-08 SELECTED EXPECTED MINIMUM LOCAL CONTRIBUTION
(< OF ENT 1 OR ENT 2) 2,466.47
EXPECTED MINIMUM LOCAL CONTRIBUTION (A)
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4. 2003 ACTUAL VALUATION 128,286,041
5. 2004 ACTUAL VALUATION 133,073,294
6. 2007-08 TWO YEAR AVERAGE ACTUAL VALUATION 130,679,667
7. 2007-08 SELECTED ACTUAL VALUATION 130,679,667
8. TWFPU FOR 0708 AID 471
9. 2007-08 SELECTED AV PER TWFPU 277,451
10. 2007-08 LOCAL TAX FACTOR 0.016
11. 2004 ADJUSTED GROSS INCOME (AGI) 31,874,135
12. 2007-08 AGI PER TWFPU 67,673
13. 2007-08 STATE AVERAGE AGI PER TWFPU 169,000
14. 2007-08 INCOME WEALTH INDEX FOR LOCAL CONTRIBUTION
(ENT 12 / ENT 13, MAX 2.0, MIN .65) 0.650
15. 2007-08 EXPECTED MINIMUM LOCAL CONTRIBUTION (A)
(ENT 9 * ENT 10 * ENT 14) 2,885.49
EXPECTED MINIMUM LOCAL CONTRIBUTION (B)
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16. 2005-06 TOT WEALTH PUPIL UNITS (TWPU) 557
17. ACTUAL VALUATION (2004) PER TWPU 238,910
18. PUPIL WEALTH RATIO 0.559
19. PUPIL WEALTH RATIO * .5 0.279
20. ADJUSTED GROSS INCOME PER TWPU 57,224
21. ALTERNATE PUPIL WEALTH RATIO 0.418
22. ALTERNATE PUPIL WEALTH RATIO * .5 0.209
23. COMBINED WEALTH RATIO (ENT 19 + ENT 22) 0.488
24. STATE SHARING RATIO 1 (1.37 - (1.23 * CWR)) 0.770
25. STATE SHARING RATIO 2 (1.00 - (0.64 * CWR)) 0.688
26. STATE SHARING RATIO 3 (0.80 - (0.39 * CWR)) 0.610
27. STATE SHARING RATIO FOUNDATION AID ONLY
(0.51 - (0.173 * CWR)) 0.426
28. 2007-08 STATE SHARING RATIO FOR TOTAL FOUNDATION AID
(MAX ENT 24,25,26,27 MIN 0, MAX .900) 0.770
29. 2007-08 EXPECTED MINIMUM LOCAL CONTRIBUTION (B)
(PART II ENT 7 * (1 - ENT 28) 2,466.47
PART IV: PUPIL COUNTS FOR FOUNDATION AID
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1. 2006-07 K-12 ENROLLMENT 434
2. 2006-07 LIMITED ENGLISH PROFICIENCY COUNT
(FORM A ENT 73) 0
SPARSITY COUNT
3. 2007-08 K-12 INDICATOR 1
4. SQUARE MILES IN DISTRICT 79.092
5. BASE YEAR ENROLLMENT PER SQUARE MILE (ENT 1 / ENT 4) 5.487
6. 2007-08 SPARSITY FACTOR ((25 - ENT 5) / 50.9 MIN=0) 0.383
7. SPARSITY COUNT FOR 2007-08 AID (ENT 3 * ENT 1 * ENT 6) 166
LUNCH COUNT
8. 2003-04 K-6 FREE & REDUCED LUNCH APPLICANTS 114
9. 2004-05 K-6 FREE & REDUCED LUNCH APPLICANTS 120
10. 2005-06 K-6 FREE & REDUCED LUNCH APPLICANTS 120
11. 2003-04 K-6 ENROLLMENT 215
12. 2004-05 K-6 ENROLLMENT 206
13. 2005-06 K-6 ENROLLMENT 202
14. 2007-08 LUNCH COUNT
(ENT 8 + ENT 9 + ENT 10/ENT 11 + ENT 12 + ENT 13) * ENT 1) 246
15. AGED 5-17 IN PUB SCH & FAMILY BELOW POVERTY 100
16. AGED 5-17 IN PUB SCH 450
17. 2007-08 CENSUS COUNT (ENT 1 * (ENT 15 / ENT 16)) 96
18. 2007-08 POVERTY COUNT((.65 * ENT 14) + (.65 * ENT 17)) 222
19. 2007-08 EXTRAORDINARY NEEDS COUNT
((.5 * ENT 2) + ENT 7 + ENT 18) 388
TAFPU
20. TAFPU BASED ON 05-06 SCHOOL YEAR DATA 510
TAFPU & TWFPU BASED ON 05-06 SCHOOL YEAR DATA
21. TAFPU BASED ON 04-05 SCHOOL YEAR DATA 490
TAFPU BASED ON 04-05 SCHOOL YEAR DATA
22. AVERAGE OF TAFPU BASED ON 0506 AND 0405 SCHOOL YEAR DATA
((ENT 20 + ENT 21) / 2) 500
23. SELECTED TAFPU FOR 2007-08 FOUNDATION AID
(MAX ENT 20 OR ENT 22) 510
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