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1
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The first itera is no longer a problem; the for-
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2
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mula for the appropriation of funds is now based on the
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3
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assessable bases for the year preceding the fiscal year.
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4
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Therefore, it is already known and no longer an estimate.
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5
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Furthermore, since net taxable income now figures in the
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6
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determination of the local share of the costs, the figures
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7
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for the second year preceding the fiscal year are used and,
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a
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hence, are already determined. Therefore, no estimates
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9
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are any longer involved.
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10
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The second item depends upon the number of
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11
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children already born --
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12
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THE CHAIRMAN: Let me interrupt you there. My
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13
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understanding is that net taxable income does not figure
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14
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in the determination of the local share of the cost.
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15
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MR. RAVER: Yes, remember the old 87 cents that
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16
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was to determine the local share? The local money put up
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17
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for equalization, so-called equalization money was 87
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18
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cents on the taxable base, and you sec, the reason the
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19
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taxable base was so important, it was rising.
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20
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THE CHAIRMAN: I understand that, but the school
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21
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people last year tried to get a net taxable income into
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