DATE: October 15, 2007
SUBJECT: 2007-2008 Revised Preliminary Summary of Finances
TO THE ADMINISTRATOR ADDRESSED
A revised preliminary Summary of Finances (SOF) and other related reports for the 2007-2008 school year have been posted to the School Finance Web site of the Texas Education Agency (TEA) at www.tea.state.tx.us/school.finance/. A summary of relevant information about the data updates in these reports, including planned future updates, is provided below:
- New Instructional Facility Allotment (NIFA)—If your district received a NIFA award, the preliminary allotment amount for 2007–08 has been added to the SOF. This allotment is part of your district’s Foundation School Program (FSP) funds, and it makes up part of each FSP payment. In accordance with the provisions of House Bill 828, the revenue target has been adjusted to reflect the differences in the amount of the current-year NIFA allotment award and the NIFA allotment award received the target year.
- Transportation Allotment—The transportation allotment is based on your district’s 2006–07 transportation allotment as calculated from data submitted for the 2006–07 near-final settle-up. Your district’s revenue target has been adjusted to reflect the difference between the current-year transportation allotment and the amount of the transportation allotment in the target year in accordance with the provisions of House Bill 828, 80th Texas Legislature.
- High School Allotment—Your district’s high school allotment is calculated by multiplying your district’s high school students (grades 9–12) in average daily attendance (ADA) by $275. This allotment is part of your district’s FSP funds, and it makes up a part of each FSP payment. See page 1 of the SOF for your district’s allotment amount. Your district’s allotment has been updated with high school ADA from the 2006–07 PEIMS summer submission. The allotment will be updated with actual high school ADA for the 2007–08 school year at near-final settle-up in the fall of 2008.
- Teacher Salary Allotment—Your district’s teacher salary allotment is calculated by multiplying the district’s 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 2006–07 average counts submitted via the Web-based Foundation School Program (FSP) Application’s Staff Salary Module. The allotment will be updated after 2006–07 final settle-up in the spring of 2008.
- Staff Allotment—Your district’s staff allotment is calculated by multiplying the district’s eligible staff by $500 or $250, depending on their full-time or part-time status. The allotment was updated with 2006–07 average counts submitted via the Web-based Foundation School Program (FSP) Application’s Staff Salary Module. The allotment will be updated after 2006–07 final settle-up in the spring of 2008.
- Educator Salary Increases (Rider 86)—This allotment is based on a rate of $23.63 multiplied by the district’s number of Weighted Average Daily Attendance. See page 1 of the SOF for your district’s allotment amount.
- Revenue Target—At this time, the 2006–07 near-final settle-up process is not yet complete. However, the calculation of the revenue target on this version of the SOF reflects final 2006–07 PEIMS summer submission data without the adjustment for declining enrollment. Further updates to the 2005–06 and 2006–07 data will be incorporated in the settle-up process. These data elements will be updated in the next version of the SOF, which is currently scheduled for publication in mid-December.
As always, school districts are strongly advised to project state aid based on the best available information. Each district should complete the 2007–2008 state aid template produced by the Education Service Center in Region XIII or an equivalent state aid estimation process. (The School Finance Web site provides a link to the ESC template.) The greatest value of the SOF is in explaining the basis of cash distributions to districts. Estimation of state aid earned can be significantly impacted by factors not known to the Division of State Funding. If you have any questions concerning these reports, please contact a State Funding consultant at (512) 463-9238.
Lisa Dawn-Fisher, Ph.D.
Director, School Finance