hard deadlines

I'm still trying to figure out the proposed education funding formula, and thanks to a tip from a reader, who found the magic conversion factor in last year's funding bill (pdf). Here's how it says to go from the raw EWAV numbers to something that can be plugged into the formula:

R = state share ratio for the community.
v = adjusted equalized weighted assessed valuation for the community, as defined in section 16-7-21(3).
V = sum of the values of v for all communities.
m = average daily membership of pupils in the community as defined in section 16-7-22(3).
M = total average daily membership of pupils in the state.
where R = 1 - 0.5vM/(Vm)

Okay, so plugging that in for Portsmouth, we get this (using the raw EWAV from the last column of the 2007 spreadsheet on the Municipal Finance page)

v=4,549,808,726
V=141,599,970,284
m=2,657
M=141,502

R= 1-(0.5*(4,549,808,726*141,502)/(141,599,970,284*2,657))
so R=0.14

Now, we plug that into the equation

Since Portsmouth has 2,657 students, and 253 on Free and Reduced Lunch, the %FRPL is 9.52, so

the formula should be SQRT(.14^2+9.52^2)/2)

Which gives us 0.16. Okay, it's roughly on the order of magnitude as what the state share officially is (13%) but it doesn't match. And plugging the numbers in for other communities (as I've done on the evolving GoogleDocs spreadsheet in columns N and O) yields absurd results.

Clearly, I'm doing something wrong. I'm going to forward this note to David Abbott at RIDE who promised me last night that he would help get the backup for the formula.

Update: According to the backup materials distributed to the Board of Regents for their Thursday meeting, the correct formula is

SSRC = 1 – (0.5 * ((District EWAV/District RADM)/(State EWAV/State RADM)))

I've updated the spreadsheet, and the numbers still don't work. Maybe it's because I'm using the K12 FRPL, but I don't know where to find the K6.