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TEA Correspondence

A Microsoft Word Version of this letter is available for download and PRINTING.

 

April 11, 2006

TO THE ADMINISTRATOR ADDRESSED:

Subject: 2004-05 “FINAL” Summary of Finances

Please check our website for your information needs related to the funding provided by the state through the Division of State Funding.

The “final” Summary of Finances and related reports for the 2004-05 school year have been updated to our website. This summary reflects the following since the “near final” summary was generated in September 2005:

  • Tax Collections - This summary uses audited M&O tax collections as were reported by the district’s independent auditor in Schedule J - 1 of the district’s independent audit report for the year ending August 31, 2005 . If the district was awarded an Instructional Facilities Allotment (IFA) for a lease - purchase agreement for the 2004-05 school year, the district’s share of that IFA award has been subtracted from the total M&O tax collection amount. A separate report listing the M&O tax collection amount from Schedule J-1 and the lease - purchase IFA local share is updated on our website.
  • ADA and FTEs - Any changes to student count data that have been submitted and processed since the “near final” summary was generated are reflected on this summary. In addition, this summary reflects, if applicable, special education extended year service (EYS) FTEs generated by last summer’s EYS program, Public Education Grant (PEG) ADA, and non - public residential contract FTEs.
  • Transportation Allocation - The district’s 2004-05 transportation allotment as calculated from the data submitted on the 2004-05 Route Services Report is reflected on this SOF. If the district did not submit the Route Services Report, the transportation allocation has been set to zero.
  • Property Value Adjustments - For those districts that are less than K - 12, the 2003 value has been adjusted for tuition costs, if applicable. You will note that there is no funding available at this time for adjustments due to a four percent decline in property values.

The “final” reports for Salary Transition Entitlement, Hold Harmless Additional State Aid, Existing Debt Allotment, Worksheet for Determining the Reduction in Additional State Aid from HB 1, and Worksheet for Calculation of Tax Collection Limit for DTR are also updated on our website for your review. If the district is a Chapter 41 partner district, a report is updated that details how the “final” reduction in state aid for selling WADA was derived. This charge is also reflected on page 4 of this summary. In addition, the “final” Additional Aid for School Employee Benefits, and New Instructional Facilities (NIFA) Allotments are included in this summary.

A report entitled 2004-05 Foundation School Fund Balances, updated on our website, indicates the district’s settle - up between “near final” and “final.” If the district has been underpaid, the amount owed the district will be paid in April 2006. If the district has been overpaid, recovery of the amount overpaid will be made by reducing the district’s 2005-06 monthly payments from the Foundation School Fund beginning with the April 2006 payment (or the district’s next scheduled payment). The rate of recovery will be based on the same percentage that Foundation School Fund monthly payments are made in accordance with the district’s 2005-06 payment class.

  • Payment Ledger - The Foundation School Program Ledger for the 2004-05 school year is on our website for your review.

If you have any questions concerning these materials, please do not hesitate to contact Leonardo Lopez or Phu Nguyen at (512) 463-9238.

Sincerely,

Lisa Dawn-Fisher, Director
School Finance

 

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