April 27, 2012
Subject: 2010–2011 Final Summary of Finances
TO THE ADMINISTRATOR ADDRESSED:
A final Summary of Finances (SOF) and other related reports for the 2010–2011 school year are now posted to the School Finance website of the Texas Education Agency (TEA) at https://wfspcprdap1b16.tea.state.tx.us/Fsp/Reports/ReportSelection.aspx. A summary of relevant information about the data used in these reports 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 2010–2011 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 not been made for the 2010–2011 school year. The final amount will be 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 for each applicable six-week period, obtained from the PEIMS. The NIFA amount should be updated by June 2012.
- 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 2011 fiscal year. If your district received an Instructional Facilities Allotment (IFA) for a lease-purchase agreement, your district's local share of the IFA has been subtracted from the maintenance and operations (M&O) tax collection amount before the calculation of state aid. If your district participates in a tax increment reinvestment zone (TIRZ), your district's reported payments of M&O tax collections to the TIRZ have been subtracted from your district's M&O tax collections as well.
- Transportation Allotment – Your district's 2010–2011 transportation allotment is based on the data submitted on the 2010–2011 Route Services Report. If your district did not submit this report, the transportation allotment has been removed from the SOF.
- 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 2010–2011 monthly counts submitted via the web-based Foundation School Program (FSP) System Staff Salary subsystem.
- 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 2012.
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 2012. If your district has been overpaid, recovery of the amount overpaid will start in May 2012 and will be made by reducing your district's remaining 2011–2012 FSP payments.
If you have any questions about your district's SOF or your district's state funding, please contact a consultant in the Office of School Finance at (512) 463-9238.
Office of School Finance