Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

For FY 1999, the adjusted TPAF/FICA percentage is 14.13%. Since this amount exceeds the 12% that has been required to be allocated in FY2000, what percentage should the LEA use for FY 2000?

April 26, 2017Adjusted allocated exceeds FICA PERCENTAGE tpaf

0

Posted

For FY 1999, the adjusted TPAF/FICA percentage is 14.13%. Since this amount exceeds the 12% that has been required to be allocated in FY2000, what percentage should the LEA use for FY 2000?

1 Answer

0

Posted

The LEA must budget at least 12% as per the FY 2000 IASA Guidelines or may budget up to 14% as per the adjusted FY 1999 rate and make the necessary adjustments in the spring of 2000 when the notification of the actual percentage is determined. The 12% is used as an estimate for budgeting purposes.