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Microsoft Word version of this letter is available for download
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April 12, 2007 TO THE ADMINISTRATOR ADDRESSED: Subject: 2005-06 “FINAL” Summary of Finances The “Final” Summary of Finances and related reports for the 2005-06 school year have been updated to the TEA school finance website: http://www.tea.state.tx.us/school.finance/funding/sofweb7.html. This summary reflects the following changes since the “Near Final” summary was generated in September 2006:
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 the website for your review. If the district is a Chapter 41 partner district, the “final” State Aid Reduction for Partners report, which details how the reduction for selling WADA was derived, has been updated as well. This charge is also reflected on page 4 of the summary. In addition, the “final” Additional Aid for School Employee Benefits, and New Instructional Facilities (NIFA) Allotments are also included. A report entitled 2005-06 Foundation School Fund Balances, 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 2007. If the district has been overpaid, recovery of the amount overpaid will be made by reducing the district’s 2006-07 monthly payments from the Foundation School Fund beginning with the April 2007 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 2006-07 payment class.
If you have any questions concerning these materials, please do not hesitate to contact Leo Lopez at (512) 463-9238. Sincerely, Liz Caskey, Director |