SERVICE CENTER. State Funding Update

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Roberta Roberts
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1 REGION I EDUCATION SERVICE CENTER State Funding Update

2 Agenda Updates to the SOF Facilities funding update CEP method for free and reduced-price lunch and compensatory education funding State funding data elements, sources and timelines

3 Updates to the SOF

4 Closing out Final SOF updates coming soon, to include Tax rates and collections from the J-1 schedule in the AFR (help us be sure this data is accurate!) EYS OFSDP Changes in Chapter 41 partnerships Changes in state average for charter schools

5 Updates to SOFs should now include: Revised compensatory education counts Updated tax rates and collections for districts that changed M&O rates (self-report data from comptroller) Tax information survey opens June 2 Near final SOF September / October to include summer PEIMS data and tax information survey

6 Estimating Funding Element Basic Allotment $4,765 $4,950 $5,040 Equalized Wealth Level (EWL) 1 $476,500 $495,000 $504,000 EWL 3 $319,500 $319,500 $319,500 Guaranteed Yield Level 1 $59.97 $59.97 $61.86 Guaranteed Yield Level 2 $31.95 $31.95 $31.95 Regular Program Adjustment Factor (RPAF) Target Revenue Adjustment Factor (TRAF) $330 million to be distributed on a per ADA basis next year as one-time assistance for TRS costs (SB 1458). Estimated allocation of $67.55

7 Estimating Preliminary SOF to be posted in this summer Property values and tax collections to be based on assumption of 4.04 percent growth Student counts to be taken from pupil projections survey Tax rates carried forward from prior year until self- report data becomes available in February

8 Facilities i funding update

9 Facilities Funding Update SOF now shows the effect of insufficient local collections Will impact payment ledgers at Near Final We are in the process of rerunning prior years to reflect lack of local collections for through Please consider the impact of failure to meet local share of IFA / EDA when estimating revenue and adopting tax rates

10 New Report For Failure to Meet Local Share

11 Failure to Meet Local Share Unequalized Excess Collection Available Current Year I&S Tax Collections Local Share of IFA Bond and EDA Example Amount Data Source / Calculation $0 Unequalized excess collections from Excel spreadsheet posted to TEA website $5,079,071 Tax collection survey at Near Final, J-1 from AFR at Final $5,955,943 Sum of line 14 from EDA detail report and the local l share of each IFA bond EDA Shortfall in $0 Can be found on EDA detail report (unequalized collections* available + current year I&S collections EDA local share). Shortfall in Collections Reduction due to Shortfall -$876,902 Unequalized available + I&S collections - local share of IFA and EDA -$1,621,956 State Share of IFA Bond * (shortfall/ifa bond Office of School Finance, local State share) Funding Division

12 Calculation of Failure to Meet Local Share Unequalized excess collections bank allocated first to EDA, then IFA Shortfall transformed into a percentage by dividing the shortfall by the total local share State share reduced by this amount Example: $1 million collections $2 million local share $6 million state share 50% shortfall in local collections means 50% reduction in state share, or $3 million reduction

13 Be Sure to Submit IFA Refunding Amendments!

14 Debt Issuance and Refundings (principal) i $10 Billions$12 $8 $6 $4 $2 $ Refunds New Issues

15 News and Updates: IFA Refunding Amendments

16 CEP and State compensatory education

17 CEP Eligibility for Free and Reduced- Pi Price Lunch Reimbursements Under CEP provision, LEAs elect to serve meals to all students. Reimbursed at free rate based on 1.6 times percentage of students eligible using direct certification. TEA will count students reimbursed at the free rate for compensatory education purposes. Example: 1,000 student district 55 percent direct certification eligible 55*1.6 = 88 percent reimbursed at free rate For more information, see hprogram/communityeligibilityprovision.aspx

18 SOF Data Elements, Sources and Timelines

19 Data Elements, Sources and Timelines Matrix to assist districts in understanding data elements, sources and timelines related to the FSP state aid reports Office of School Finance, State Funding Division

20 Data Elements, Sources and Timelines Available on the TEA website: Funding School Finance School Finance Manuals

21 Data Elements, Sources and Timelines Data Element LPE DPE Near Final Final Average Daily Attendance (ADA) Pupil projections submitted to TEA each biennium and used during the appropriations process Adjusted each year in March when PEIMS enrollment data are available based on percentage increase from prior year Summer PEIMS ADA count Same as Near- Final

22 Data Elements, Sources and Timelines Data Element LPE DPE Near Final Final Prior-Year CPTD Value (sometimes called State Funding Value) Final CPTD value from the comptroller is used in the first year of the biennium. In the second year of the biennium, LPE values correspond to the estimates used during the appropriations process. In accordance with TEC (b), actual values may be substituted for LPE estimates in the second year of the biennium when they are higher than estimated. Final CPTD values are taken from comptroller s property tax division property value study. Same as DPE Same as Near- Final

23 Data Elements, Sources and Timelines Data Element LPE DPE Near Final Final Current Year M&O Collections In the first year of the biennium, projected property value growth rates established in appropriations process are applied to prioryear DPE tax collections. In the second year of the biennium, two years of estimated property value growth rates from the appropriations process are applied to DPE tax collections from the second year of the previous biennium. Updated in March with PEIMS budgeted tax collections Updated in September with data from the Tax Information Survey if submitted, PEIMS budget data if no tax survey data was submitted. Updated in April with data from the J-1 schedule from the district s Annual Financial Report

24 Questions? Customer Service, State Funding Phone: (512) Amanda Brownson, State Funding Director (512)

ESC 1 Finance Council IFA and EDA Update. September 20, 2013

ESC 1 Finance Council IFA and EDA Update September 20, 2013 ESC 1 Finance Council Agenda Unequalized Local Tax Collections Ledger Balances Refunding Amendments Questions 9/19/2013 2 Unequalized Local Collections