TO THE ADMINISTRATOR ADDRESSED:
Subject: Revised Preliminary 1999-2000 Summary of Finances
Enclosed is the district's revised preliminary Summary of Finances for the 1999-2000 school year and other related printouts.
This revised summary reflects the following:
· Available School Fund (per capita) Allocation. The State Board of Education, at their September 1999 meeting, set a per capita rate of $272 per prior-year ADA for the 1999-2000 school
year. The estimated rate that was used on the initial preliminary summary was $280. Except for the "budget balanced" districts, the change in the per capita rate does not affect the
total amount of state aid the district will receive in the 1999-2000 school year.
· Property value adjustments. If the district's estimated property value for tax year 1999, as reported by the Chief Appraiser, was at least four percent less than the district's 1998 CPTD
value, an adjusted 1998 CPTD value has been calculated and used on the revised summary. Please be advised that a final adjustment will be made using the Comptroller's certified values for both
tax year 1998 and 1999.
If the district's highest grade taught is less than 12 and will pay tuition to another district for educating students whose grades are not taught by the district, a property value adjustment has also been made. The adjusted value is based on the reported amount of tuition paid.
· Instructional Facilities Allotment. If awarded an Instructional Facilities Allotment (IFA) either this past biennium or for the upcoming biennium, the state's share of the IFA now appears on this revised summary. Please keep in mind that the IFA allotment and the Existing Debt Allotment are paid in a lump sum in September and thus will not be part of the district's monthly Foundation School Fund payments.
· Transportation. The district's final 1998-99 transportation allocation, as reflected on the 1998-99 "near final" Summary of Finances, is now being used as the district's 1999-2000 estimated transportation allocation on this revised summary.
The other related printouts enclosed were revised to reflect the adjustment (if applicable) that was made to the district's CPTD value and any other change that was processed by the Division of State Funding. These printouts include: (1) the Worksheet for Determining Tier II Tax Rate Compression; (2) the Calculation of Salary Transition Entitlement; (3) the Worksheet for Estimating Existing Debt Allotment; (4) Calculation of Hold Harmless State Aid for M&O Collections; and (5) Calculation of Hold Harmless State Aid for I&S Collections.
Also enclosed is a printout entitled Estimated September Through August Payments Based on LPE State Aid, which is a schedule of the estimated monthly payments from the Foundation School Fund
as well as the scheduled payments from the Available School Fund and the Textbook Fund (technology payment). The district's initial 1999-2000 Foundation School Program Payment Ledger is also
enclosed for your review.
This revised summary does not yet reflect the New Instructional Facilities Allotment ($250 per ADA), for which the district may be eligible. Districts will receive an application for this
allotment by the end of the month and will be required to submit the completed application in order to be considered for this allotment. If granted, another summary will be generated that
incorporates this allotment.
If you have any questions related to any of these materials, please do not hesitate to contact us at Division of State Funding at 512-463-9238.
Sincerely,
Omar Garcia, Senior Director
Division of State Funding
For further information on this topic, contact Division of State Funding at 512-463-9238.