2011–2012 Near-Final Summary of Finances

 

Word Version

Date:  2012-10-25

TO THE ADMINISTRATOR ADDRESSED:

Subject: 2011–2012 Near-Final Summary of Finances

The “near-final” Summary of Finances (SOF) for the 2011–2012 school year and other related reports have been updated and are available at https://wfspcprdap1b16.tea.state.tx.us/Fsp/Reports/ReportSelection.aspx (select "Summary of Finances" from the drop-down list). The reports reflect the following important updates and information available at the time of publication. (Items with asterisks [*] do not apply to charter schools.)

  • Average Daily Attendance (ADA) and Full-Time Equivalents (FTEs) – The SOF reflects the updated student attendance data submitted by school districts and charter schools through the Public Education Information Management System (PEIMS) in July for the 2011–2012 school year. The near‑final calculation of students in weighted average daily attendance (WADA) can be found on line 8 (school districts) or immediately after line 23 (charter schools).
  • New Instructional Facility Allotment (NIFA) – The Texas Education Code (TEC), §42.158, provides for NIFA funding to eligible school districts and charter schools to pay for operational expenses associated with opening new instructional facilities, contingent on appropriations for the allotment. However, the 2011 General Appropriations Act did not provide appropriations for NIFA awards. Therefore, no awards were made.
  • *ADA Decline Adjustment – The TEC, §42.005, provides school districts that experience declines in ADA from one year to the next with an adjustment to their current-year ADA. The ADA of a district may be adjusted to reflect up to 98 percent of the district’s prior-year ADA, depending on the availability of funding. However, the 2011 General Appropriations Act did not provide appropriations for the purpose of ADA adjustments for districts with declining enrollments. Therefore, no adjustments for declining enrollment will be made.
  • Total Tax Collections
    • School Districts: The maintenance and operations (M&O) and interest and sinking fund (I&S) tax collections your district reported through the Tax Information Survey subsystem of the Foundation School Program (FSP) System in summer 2012 have been used in this SOF. If your district did not complete the survey, then budgeted tax collections for the 2011–2012 school year as reported through the PEIMS will continue to be used until tax collections reported in the 2011-2012 annual audit are incorporated in the final version of the SOF in April 2013. If your district receives an Instructional Facilities Allotment for a lease-purchase agreement, your district’s local share of the allotment has been subtracted from the M&O tax collection amount. If your district participates in a tax increment reinvestment zone (TIRZ), the local collections for the TIRZ submitted on the J1 schedule in your district's 2011–2012 annual audit will be subtracted from your district's M&O collections in April 2013.

    • Charter Schools: The M&O tax collections reported by school districts through the Tax Information Survey subsystem in summer 2012 have been used to determine the statewide average variables for charter schools.
  • Transportation Allotment Your school district’s or charter school's 2011–2012 near-final transportation allotment is based on the 2011–2012 route services data submitted via the Transportation subsystem of the FSP System.
  • *Existing Debt Allotment(EDA) – A report entitled EDA State Aid Report, available by clicking the "EDA Detail Report" link, reflects the near-final state and local shares of the EDA based on updated ADA and district property values. Settle-up amounts for 2011–2012 will be incorporated into the 2012–2013 EDA payments, which we expect to make in November. If your district refinanced eligible debt during 2011–2012, please verify that the information on the EDA State Aid Report and in the FSP System Bond Programs subsystem has been updated correctly.
  • *Instructional Facilities Allotment (IFA) – A report entitled IFA Allotment Detail, available by clicking the "IFA Payment Report" link, reflects the near-final state and local shares of the IFA based on updated ADA and district property values. Settle-up amounts for 2011–2012 will be incorporated into the 2012–2013 IFA fall payments, which we expect to make in November. If your district refinanced eligible debt during 2011–2012, an amendment is required, and adjustments may be necessary.
  • High School Allotment Your district’s or charter school's high school allotment is calculated by multiplying its high school (grades 9–12) ADA by $275.
  • Staff Salary Allotment Your district’s or charter school's staff salary allotment is calculated by multiplying its number of eligible staff by $500 or $250, depending on their full-time or part-time status. The allotment has been updated using 2011–2012 counts submitted via the Staff Salary subsystem of the FSP System.
  • *State Aid Reduction for WADA Sold – For a Chapter 42 district that entered into an Option 4 agreement with a Chapter 41 district, the reduction in state aid for selling WADA has been recalculated using the district’s near-final revenue per WADA. The report entitled State Aid Reduction for WADA Sold, available by first clicking the "Other Programs Detail Report" link and then clicking the "State Aid Reduction for WADA Sold" link, shows how this latest WADA charge is derived. The number of WADA being sold does not reflect the near-final WADA that the Chapter 41 district must purchase. The number of WADA bought/sold may need to be adjusted depending on the near-final Chapter 41 Cost of Recapture Report
  • *Public Education Grant Allotment The Public Education Grant allotment is not included in this SOF.  It will be incorporated in the final version of the SOF in April 2013.   

The report entitled FSP Allocations and Adjustments, available by clicking the "FSP Allocations and Adjustments Report" link, shows the amount of your school district’s near-final settle-up (for 2011–2012, this report is available only to school districts). If your school district or charter school was underpaid, the amount owed the district or school was paid earlier this month. If your school district or charter school was overpaid, recovery of the amount overpaid started this month and will continue to be made by reducing the district’s or school's 2012–2013 monthly payments from the Foundation School Fund. The rate of recovery will be based on the same percentage that Foundation School Fund monthly payments are based on in accordance with your district’s or school's 2012–2013 payment class. Your school district's or charter school's 2011–2012 FSP payment ledger is also available at https://wfspcprdap1b16.tea.state.tx.us/Fsp/Reports/ReportSelection.aspx (select "Payment Ledgers" from the drop-down list).

If you have any questions about this SOF, please contact a consultant in the Office of School Finance at (512) 463-9238. Additional contact information appears at the end of this letter.

 

Sincerely,

Lisa Dawn-Fisher, Ph.D.
Chief School Finance Officer
School Finance

 

School Finance Contact Information:

General SOF Questions, Chapter 42

            Al Johnson                   (512) 463-9260, al.johnson@tea.state.tx.us

            Kim Wall                       (512) 463-4809, kim.wall@tea.state.tx.us

General SOF Questions, Chapter 41

            Nadia Bobb                  (512) 463-9214, nadia.bobb@tea.state.tx.us

Charter Schools Funding

            Nora Rainey                 (512) 463-7298, nora.rainey@tea.state.tx.us

Facilities Funding

            Cassie Huggins            (512) 463-9232, cassie.huggins@tea.state.tx.us

            Gary Marek                  (512) 463-9190, gary.marek@tea.state.tx.us

Transportation Funding

            Gary Marek                  (512) 463-9190, gary.marek@tea.state.tx.us

            Danny Sanchez            (512) 463-9266, danny.sanchez@tea.state.tx.us

Staff Salary Allotment

            Al Johnson                   (512) 463-9260, al.johnson@tea.state.tx.us

State Compensatory Education, Optional Flexible Year Program,
Optional Flexible School Day Program

            Kim Wall                       (512) 463-4809, kim.wall@tea.state.tx.us

Texas Tax Code, Chapter 313, Agreements

            Nancy Kuhn                 (512) 463-6313, nancy.kuhn@tea.state.tx.us

Page last modified on 5/22/2013 10:59:09 AM.