Texas Education Agency Skip to Main Content
   Home | District Locator | Index A-Z | Divisions | School Directory
  SEARCH   Administrators   Teachers   Funding   Testing/Account   Curriculum   Reports   News   ARRA

TEA Correspondence

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

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:

  • Tax Collections - The summary uses audited M&O tax collections as reported by the district’s independent auditor in Schedule J-1 of the district’s independent audit report for the year ending August 31, 2006.  If the district was awarded an Instructional Facilities Allotment (IFA) for a lease-purchase agreement for the 2005-06 school year, the district’s local 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 has been updated.
  • ADA and FTEs - Any changes to student count data submitted and processed since the “Near Final” summary 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 2005-06 transportation allotment, as calculated from the data submitted on the 2005-06 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 serve less than K-12, the 2004 value has been adjusted for tuition costs, if applicable.  Please 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 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.

  • Payment Ledger  -  The Foundation School Program Ledger for the 2005-06 school year is on our website for your review.

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

Sincerely,

Liz Caskey, Director
State Funding

TEA Homepage

Back to TEA Correspondence Homepage

 
Texas Education Agency
1701 N. Congress Avenue
Austin, Texas, 78701
(512) 463-9734
Map | Site Policies | TEA Jobs
Complaints
Fraud Hotline
Compact with Texans
Open Records Requests
Frequently Asked Questions
Encrypted Email Instructions
ESCs
State of Texas
Texas Legislature
Homeland Security
TRAIL
Military Families
Where Our Money Goes
Equal Educational Opportunity
Governor's Committee on People with Disabilities
Copyright Texas Education Agency (TEA) 2007-2012