Student Achievement Guarantee in Education (SAGE) State Aid for Debt Service (255.505)
Discretionary state awards are made to school districts that issue bonds to fulfill a SAGE contract. The bonds must be issued pursuant to an approved referendum held before June 30, 2001, that indicates the SAGE portion of the total bonds issued and must be approved by the DPI prior to the referendum. The amount of the award is calculated as 20% of the annual debt service payments for the SAGE portion of the bonds issued. The aid payment will be submitted to the districts before June 30 of each year. Districts are required to submit a Claim for State Aid by May 15 of each year indicating the amount of related debt service costs incurred during the year.
Who is Eligible to Apply:
All school districts except those operating under Chapter 119, Wisconsin Statutes, that adopt an initial resolution on or after October 29, 1999 and hold the related referendum before June 30, 2001, may qualify for the state award if properly approved by the DPI. The initial resolution and referendum ballot must indicate the portion of the total bonds that will be used to fulfill a SAGE contract.
Application and Annual Claim Due Date:
Applications for SAGE debt service aid are no longer being accepted by DPI. Before May 15 of each year, each approved school district will certify to the DPI the annual debt service payment related to the bond issue and the SAGE portion of the total payment. This certification will also include assurance that all SAGE bond proceeds were used only for SAGE classroom expansion purposes as originally approved by the DPI.
For more information, contact:
- Gene Fornecker, CPA
- School Finance Auditor
- 608-267-7882 phone
Links to other related topics:
- Administrative Rules
SAGE Classroom Expansion-Claim for State Aid
SAGE Student Achievement Guarantee in Education Program