{"id":1344,"date":"2022-06-16T18:09:07","date_gmt":"2022-06-17T01:09:07","guid":{"rendered":"https:\/\/business.sbceo.org\/memos\/?p=1344"},"modified":"2023-02-09T11:40:35","modified_gmt":"2023-02-09T19:40:35","slug":"education-protection-account-for-2021-22-p-2-q4","status":"publish","type":"post","link":"https:\/\/business.sbceo.org\/memos\/?p=1344","title":{"rendered":"Education Protection Account for 2021\u201322 P-2 \/ Q4"},"content":{"rendered":"
Dear School Business Professionals,
\nPlease see email below that we have been asked to forward to you.
\nThank you, Regards,
\nSchool Business Advisory Services Team Santa Barbara County Education Office
\nNote: This message was sent on behalf of the School Business Advisory Services Team. Please do not respond to this message. Replies will be routed to an unmonitored mailbox.
\nVisit our new website: www.sbceo.org\/sbas<\/a><www.sbceo.org\/sbas<\/a>>
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Good Morning, The purpose of this communication is to provide two updates related to funding for the final revenue amount for the 2021\u201322 Education Protection Account (EPA) entitlement calculation and associated impacts on Principal Apportionment payments. Additional information will be made available when the California Department of Education (CDE) certifies the 2021\u201322 Second Principal Apportionment (P-2). First, EPA revenues for the 2021\u201322 Fiscal Year are $15.8 billion, the highest funding level since the account was established. This is a 53 percent increase in the revenue estimate that was used for Quarter 1 through 3 EPA payments. Based on this, the statewide EPA payment for the Fourth Quarter (Q4) apportionment will be $8 billion, which may result in a significant increase to a local educational agency\u2019s (LEA) Q4 EPA payment. Similar to last year\u2019s P-2, many LEAs will experience the following impacts:
\n1. The June 24, 2022 EPA Q4 payment will be large. 2. The June 30, 2022, Principal Apportionment payment may be negative or zero. County offices of education should keep in mind that a county that is overpaid as a whole will not receive a 2021\u201322 P-2 deposit and 2022\u201323 Advance Principal Apportionment payments at the county level will be offset by the State Controller\u2019s Office until overpaid Principal Apportionment funds are recovered. The CDE will post to our website payment information for both the Principal Apportionment and EPA on June 17, 2022. Secondly, the significant increase in EPA revenue resulted in the need to adjust the EPA calculations, which have operated since the inception of LCFF. In order to fully apportion the total amount of 2021\u201322 EPA revenues to LEAs, revenue limit rates for school districts and charters were adjusted by the statutory COLA rates from 2013\u201314 through 2021\u201322 for the Q4 2021-22 EPA calculations. This adjustment will not be applied to the revenue limit rates used for any purpose other than the EPA entitlement calculation. For EPA, the 2012\u201313 revenue limit rates for school districts and charter schools will continue to be adjusted by the statutory COLA in 2022\u201323 and future years. As a reminder, EPA entitlements are an offset to LCFF state aid and, therefore, this increase in EPA funding and adjustment to the EPA calculation will not impact the determination of an LEA\u2019s entitlement under LCFF. If you have any questions, please contact me at edearstyne@cde.ca.gov<\/a><mailto:edearstyne@cde.ca.gov<\/a><\/a>> or Kiyomi Meeker, Administrator, Principal Apportionment Policy Office, at kmeeker@cde.ca.gov<\/a><mailto:kmeeker@cde.ca.gov<\/a><\/a>>. Elizabeth Dearstyne (she\/her) Director, School Fiscal Services Division California Department of Education 1430 N Street, Ste. 3800 Sacramento, CA 95814
\n[seal]
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\"\"<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Dear School Business Professionals, Please see email below that we…Continue readingEducation Protection Account for 2021\u201322 P-2 \/ Q4<\/span><\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-1344","post","type-post","status-publish","format-standard","hentry","category-reporting"],"_links":{"self":[{"href":"https:\/\/business.sbceo.org\/memos\/index.php?rest_route=\/wp\/v2\/posts\/1344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/business.sbceo.org\/memos\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/business.sbceo.org\/memos\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/business.sbceo.org\/memos\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/business.sbceo.org\/memos\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1344"}],"version-history":[{"count":1,"href":"https:\/\/business.sbceo.org\/memos\/index.php?rest_route=\/wp\/v2\/posts\/1344\/revisions"}],"predecessor-version":[{"id":1577,"href":"https:\/\/business.sbceo.org\/memos\/index.php?rest_route=\/wp\/v2\/posts\/1344\/revisions\/1577"}],"wp:attachment":[{"href":"https:\/\/business.sbceo.org\/memos\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/business.sbceo.org\/memos\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/business.sbceo.org\/memos\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}