26

1	DR. SENSENBAUGH: We can't afford to esti-
2	mate a little low.
3	MR. SMITH: So, you have to estimate it a
4	little high?
5	DR. SEHSENBAUGH: We have to be on the
6	cautious side. That is why you have a reversion.
7	MR. SMITH: But it still reverts.
8	DR. SENSENBAUGH: But it's the State's
9	money.
10	MR. ENEY: Is there actually a reverse situ-
11	ation? Has there been in the past ten years?
12	DR. SENSENBAUGH: Oh, yes.
13	MR. SARTORIUS: That has been primarily due
14	to assessable bases rather than pupils.
15	MR. HOFF: There hasn't been any year when
16	there hasn't been a sizable reversion.
17	DR. SENSENBAUGH: For a while, yes.
18	DR. EARHART: You have a number of variables
19	involved in this formula. You mentioned one a while
20	ago, Mr. Chairman, in the terms of net ordinary income
21	amount, which is a measure as well in this formula and,