May 5, 2009
Subject: 2007–08 Final Summary of Finances
TO THE ADMINISTRATOR ADDRESSED:
A final Summary of Finances (SOF) and other related reports for the 2007–08 school year have been posted to the School Finance website of the Texas Education Agency (TEA) at http://www.tea.state.tx.us/school.finance/funding/sofweb7.html. A summary of relevant information about the data used in this report is provided in the following paragraphs:
- Student Attendance Data – The SOF reflects the final student attendance data submitted by districts through the Public Education Information Management System (PEIMS) in July for the 2007–08 school year. Any changes to average daily attendance (ADA) and full-time equivalent (FTE) student count data submitted and processed since the "Near Final" SOF are reflected on this update. This SOF reflects, if applicable, special education FTEs generated by last summer's Extended Year Services (EYS) program. The SOF also reflects Public Education Grant (PEG) ADA and nonpublic residential contract FTEs.
- New Instructional Facility Allotment (NIFA) – A final determination of the NIFA amount has been made for the 2007–08 school year. The final amount is based on information about the number of days of instruction in each new campus submitted by the applicant and a final, actual count of ADA at each eligible campus obtained from the PEIMS for each applicable six-week period.
- Total Tax Collections – The SOF uses audited tax collections as reported by your district's independent auditor in Schedule J-1 of your district's independent audit report for the 2008 fiscal year. If your district received an Instructional Facilities Allotment (IFA) for a lease-purchase agreement, your district's local share of the IFA allotment has been subtracted from the M&O tax collection amount before the calculation of state aid.
- Transportation Allotment – Your district's 2007–08 transportation allotment is based on the data submitted on the 2007–08 Route Services Report. If your district did not submit this report, the transportation allotment has been removed from the SOF.
- High School Allotment – Your district's high school allotment was calculated by multiplying your district's high school (grades 9–12) ADA by $275. Your district's allotment has been updated with high school ADA from the July 2008 PEIMS submission. This allotment is part of your district's FSP funds, and it makes up a part of each FSP payment.
- Teacher Salary Allotment – Your district's teacher salary allotment was calculated by multiplying the district's number of eligible teachers, librarians, nurses, and counselors by $2,500 or $1,250, depending on their full-time or part-time status. The allotment was updated with 2007–08 monthly counts submitted via the web-based Foundation School Program (FSP) Staff Salary Module.
- Staff Salary Allotment – Your district's staff salary allotment is calculated by multiplying the district's number of eligible staff by $500 or $250, depending on their full-time or part-time status. The allotment was updated with 2007–08 monthly counts submitted via the web-based FSP Staff Salary Module.
- State Aid Reduction for WADA Sold – The SOF report reflects reductions in state funding for the attendance credits sold by a partner district to a Chapter 41 district. The adjustments were made by reducing state aid based on the number of credits for students in weighted average daily attendance (WADA) involved in the partnership arrangement. The number of WADA being sold does not reflect the "final" WADA that the Chapter 41 district must purchase. The number of WADA bought/sold may need to be adjusted depending on the "final" Cost of Recapture reports now available online to Chapter 41 districts. Revisions for WADA sold must be completed by June 2009.
- Reduction in Additional Aid for Per Pupil Allotment – If your district does not receive Tier I state aid from the Foundation School Fund, it is subject to a reduction of its per pupil allotment. The reduction in the per pupil allotment is based on the increase in the Available School Fund per capita rate from $248 to $290 and decreases in current-year recapture amounts. This allotment has been updated on your district's SOF.
The last section of the SOF, labeled "FSP Allocations and Adjustments," shows the amount of your district's "final" settle-up. If your district has been underpaid, the amount owed the district will be paid in May 2009. If your district has been overpaid, recovery of the amount overpaid will start in May 2009 and will be made by reducing your district's remaining FSP 2008–09 payments. Your district's 2007–08 FSP Payment Ledger is also available for review on the School Finance website.
If you have any questions about your district's SOF or your district's state funding, please contact a consultant in the State Funding Division at (512) 463-9238.
Director, State Funding