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Administrative Component Cap Calculation
When districts are calculating the administrative component cap for a contingency budget, the law requires districts to calculate out to two decimal places (XX.XX). For example, if the administrative ratio calculates to 11.62654, then the calculation would be rounded to 11.63%. Should any of these calculations result in a third decimal place below 5, the result would be truncated. For example, if the administrative ratio resulted in 12.76455, the cap percentage would be 12.76%.