A Microsoft
Word Version of this letter is available for download and PRINTING.
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March 7, 2005 TO THE ADMINISTRATOR ADDRESSED: Subject: 2003-04 “FINAL” Summary of Finances
The “final” Summary of Finances and related reports for the 2003-04 school year have been updated to our web site. (http://www.tea.state.tx.us/school.finance/funding/sofweb3.html) This summary reflects the following since the “near final” summary was generated in September 2004: • Tax Collections - This summary uses audited M&O tax collections as were reported by the district’s independent auditor in Schedule J-1 of the district’s independent audit report for the year ending August 31, 2004, plus any CED delinquent taxes (object code 5761) as was reported to PEIMS in the 2003-04 actual financial data submission. If the district was awarded an Instructional Facilities Allotment (IFA) for a lease-purchase agreement for the 2003-04 school year, the district’s 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, the CED amount from PEIMS, and the lease-purchase IFA local share is updated on our web site.
A report entitled 2003-04 Foundation School Fund Balances, which also prints at the end of the Summary of Finances (http://www.tea.state.tx.us/school.finance/funding/sofweb3.html), 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 2005. If the district has been overpaid, recovery of the amount overpaid will be made by reducing the district’s 2004-05 monthly payments from the Foundation School Fund beginning with the April 2005 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 2004-05 payment class.
If you have any questions concerning these materials, please do not hesitate to contact the Division of State Funding at (512) 463-9238. Sincerely, Robert N. Jocius, Senior Director
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