10/29/10

Last week, the Texas Education Agency State Funding Division released amended near-final Summary of Finances (SOF) reports for school year 2009-2010.  The amended SOF reports contain updated data and funding calculations in certain areas as follows:

• "Average Daily Attendance (ADA) and Full-Time Equivalents (FTEs) – Information for a small group of districts was corrected for errors in the summer Public Education Information Management System (PEIMS) submission process. Please check the ADA on this report and contact us if it is not what was submitted through the PEIMS (after adjustments for prekindergarten).
• High School Allotment – Your district’s high school allotment is calculated by multiplying your district’s high school (grades 9–12) ADA by $275. Your district’s allotment was updated with high school ADA from the July 2010 PEIMS submission.
• Advanced Career and Technology FTEs – If applicable, your district’s SOF was updated for the FTEs for this category. These FTEs generate an additional $50 per FTE and are part of your district’s total career and technology adjusted allotment."

The near-final SOF is used by school districts for preparation of financial statements for the annual audit report.  The TEA letter dated October 25, 2010, explained "Please note that the balance reflected on your amended near-final SOF does not supersede the balance reflected on your original near-final SOF.  This means that you must add the two balances together to arrive at the true settle-up cost for 2009–2010."  The TEA letter also explains the timing for settleup for amounts overpaid or underpaid shown on the SOF. 

School districts and open-enrollment charter schools are advised to use the latest version of the state aid template from the Region 13 Education Service Center to verify the exact amount of state aid earned for allocations in the SOF and the overpaid or underpaid balance to report in financial statements in the annual audit report. To access the state aid template click on the link below.  

http://www5.esc13.net/finance/index.html

To read the TO THE ADMINISTRATOR ADDRESSED letter click on the link below.

http://ritter.tea.state.tx.us/taa/statefund102510.html