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Public School Funding Updates |
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You are receiving this information because you are subscribed to Public School Funding Updates for the Texas Education Agency.
Please do not reply to this message. This is a broadcast email sent to all Foundation School Program (FSP) State Funding bulletin members.
The 2022–2023 final summary of finances (SOF) reports now incorporate (as of Run ID 42916):
- M&O and I&S tax collections from the district’s J-1 schedule of their annual financial report (AFR).
- Extended School Year services data for students with disabilities from PEIMS submission #4
- Optional Flexible School Day Program (credit recovery) data for certain districts from PEIMS submission #4
Resulting balances on the 2022–2023 payment ledgers will either be paid or transferred to reduce payments in 2023–2024, as applicable. A first round of balance transfers has occurred, and further payment ledger updates will be made once the following data are incorporated into the SOF reports:
- Final settle-up for facilities funding is pending and will be completed in the coming weeks.
- College Preparation Assessment and Certification Examination Reimbursements are pending.
- New Instructional Facility Allotment (NIFA) from days of instruction surveys is pending.
- Transportation data from the Route Services Report submitted after near-final settle up is pending. Allotments will be reduced to zero for any districts that failed to submit.
- Updates to taxes refunded under Tax Code, Section 26.1115(c) are pending. Values reported in the tax information survey incorporated at near-final settle up remain in the SOF reports. Guidance for school districts will be forthcoming regarding the process for reconciling any discrepancies with this new component of the J-1 schedule and AFR data feed. This does not apply to charter schools.
The 2023-2024 preliminary summary of finances (SOF) reports now incorporate (as of Run ID 42935):
- Updated M&O and facilities funding calculations as prescribed by SB 2 (88-2).
- Due to the complexity of SB 2 calculations and data, implementation is ongoing and subject to further changes.
- Due to the timing of SB 2, PEIMS budgeted M&O tax collections for your district may be overstated, which may inflate calculated Tier Two funding, including for charter schools. Collections will be updated with data from the tax information survey at near-final settle up, and Tier Two funding will be adjusted accordingly. If you have any questions or concerns, please contact taxprograms@tea.texas.gov.
- Forthcoming updates to the 2023–2024 SOF reports will include incorporating additional provisions from the 88th legislative sessions.
The agency has posted planning tools for school year 2024-2025.
- As indicated in the Tax Year 2024 Maximum Compressed Tax Rates (MCR) correspondence dated April 25, 2024, the agency has provided guidance on TY 2024 and SY 2024-2025 tax rates. A Tax Rate and MCR Template is available under the District & Charter Planning Tools subheading on the State Funding webpage, which can help districts understand the inputs and calculations behind the TY 2024 MCRs.
- A listing and associated calculations for districts eligible for the fast growth allotment for the 2024-2025 school year have been posted on the State Funding Reports and Data webpage.
- A preliminary 2024-2025 SOF report is expected to be published around July 1, 2024.
Please call (512) 463-9238 or email sfinance@tea.texas.gov with questions.
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The Texas Education Agency will improve outcomes for all public-school students in the state by providing leadership, guidance, and support to school systems.
     
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