121st Maine Legislature
		Office of Fiscal and Program Review
		LD 1112
		An Act to Restore an Annual Adjustment for Costs to the School Funding Formula
		LR 0036(02)
		Fiscal Note for Bill as Amended by Committee Amendment " "
		Committee: Education and Cultural Affairs
		Fiscal Note Required: Yes
Fiscal Note
					Projections	Projections
			2003-04	2004-05	2005-06	2006-07
Net Cost (Savings)
	General Fund		$40,000	$0	$0	$0
Appropriations/Allocations
	General Fund		$40,000	$0	$0	$0
Fiscal Detail and Notes
	This bill includes a one-time General Fund appropriation in fiscal year 2003-04 to the General Purpose Aid for Local Schools program within the Department of Education to contract with an outside vendor to develop the adjustment.  The department estimates that it will take approximately six to eight months for the index to be developed.  The funds appropriated for General Purpose Aid for Local Schools will be redistributed once the index is available.  The impact to local school units can not be determined at this time.