School districts will find updated calculations under the Instructional Facilities Allotment (IFA) and Existing Debt Allotment (EDA) programs in your district’s Summaries of Finances (SOFs) for the 2015–2016 school year, according to a Texas Education Agency announcement dated October 30, 2015. School officials should also carefully review changes, if any, to the remaining balance in the district’s payment ledger for IFA and EDA programs.
Regarding changes to the payment ledger for IFA and EDA programs that factor changes in the district’s SY 2014-2015 Near-Final Settle-up SOF, the TEA announcement stated, “If your district has a negative remaining balance, you will either need to make a repayment of overpaid FSP funds, or we will transfer this balance to your district’s Foundation Payment Ledger. We will notify districts that are in a negative balance situation after calculations are updated to reflect the impact of the homestead exemption” after the election on the constitutional amendment to increase the homestead exemption.
To access the TO THE ADMINISTRATOR ADDRESSED letter on this topic dated October 30, 2015, click on the link below.
http://tea.texas.gov/interiorpage_wide.aspx?id=25769823886