Guidance for Rider 71 Temporary Teacher Retirement System Contribution Assistance for Fiscal Year 2015
May 21, 2014
To the Administrator Addressed:
Subject: Guidance for Rider 71 Temporary Teacher Retirement System Contribution Assistance for Fiscal Year 2015
The 83d Texas Legislature, during its Regular Session in 2013, appropriated funds for the Texas Education Agency (TEA) to use in fiscal year 2015 to assist independent school districts and open-enrollment charter schools with the Teacher Retirement System (TRS) contribution required by Senate Bill (SB) 1458.
For more information on the required contribution, please see the TRS website: http://www.trs.state.tx.us/employers.jsp?submenu=reporting&page_id=/reporting/announcement_reporting_requirements.
To help school districts and charter schools with the increased costs associated with SB 1458, the legislature provided for temporary, one-time assistance, based on a school district’s or charter school’s average daily attendance (ADA). Rider 71 of the General Appropriations Act allocates $330,000,000 to be used in the 2014–2015 school year for this purpose. This assistance will be allocated to all school districts and charter schools regardless of whether a school district or charter school contributes to Social Security.
We are currently estimating an allocation of $67.43 per ADA and will disburse this funding as part of the regular Foundation School Program (FSP) allocation. The special allocation will appear on line 6 of the “Other Programs Detail Report” on the district Summary of Finances. Please be aware that the per-student allocation will change when final attendance is available in order to facilitate spending the full $330,000,000 appropriation without exceeding it.
Use the following object codes to record the one-time assistance:
• Revenue – Object Code 5829 – Revenues from Other State Programs – Locally Defined
• Expenditures – Object Code 6149 – Employee Benefits – Locally Defined
Please remember that the object code used should agree with the account code defined by your school district or charter school for fiscal year 2015. If you have any questions about this letter, please contact the Financial Accountability Division at (512) 463-9238 or email@example.com.
Office of School Finance
Page last modified on 5/21/2014 02:37:50 PM.