When
applying quality review checks to the fiscal year 2015 actual audited financial data that the
district is finalizing for the PEIMS mid-year submission (Collection 2), due
February 11, 2016, verify that the expenditure data shows the School District
spent at least 52% of the Foundation School Program (FSP) allotments for Bilingual Education, Compensatory
Education, and Special Education; 55% of the allotment for Gifted and Talented;
and 58% of the allotment for Career and Technical Education. The Texas
Education Agency Financial Compliance Division will be auditing the district’s
expenditures to verify that the three-year aggregate eligible direct
expenditures equal or exceed the aggregate percentages of the respective FSP special
program allotments. Total direct costs which will be considered for compliance
monitoring purposes are: Eligible expenditures coded by the school district to
specific Enhanced Program Intent Codes (PICs) plus Allocations of
expenditures to Enhanced PICs from Undistributed PIC (99) based upon
instructional FTEs plus Expenditures associated with a school district
as a member of a shared services arrangement which are coded to specific
Enhanced PICs. If the district shows a deficiency in the amount of expenditures for one or more FSP special programs, apply additional procedures to verify the accuracy of the actual financial data. Also, determine how much more the district should spend for fiscal year 2016, if necessary to achieve compliance with the three-year rolling averages for the FSP allotments.
Resources:
Summary of Finances https://wfspcprdap1b16.tea.state.tx.us/Fsp/Reports/ReportSelection.aspx
School Finance 101: Texas Public School Funding http://tea.texas.gov/Finance_and_Grants/State_Funding/Manuals/School__Finance_Manuals/
Auditing Module, Resource Guide (FASRG) http://tea.texas.gov/Finance_and_Grants/Financial_Accountability/Financial__Accountability_System_Resource_Guide/