Yesterday, the Texas Education Agency announced that a number of changes have been made to school districts' summary of finance reports as a result of incorporation of revised 2014 property values reflecting the increased homestead exemption. School districts eligible for IFA and EDA programs will be receiving catch-up payments in order to reflect the homestead exemption increase. Districts should receive the catch-up funds soon if they have not already received the catch-up payments. Also, increases in the state share for Tier 1 and Tier 2 allotments for maintenance and operations (M&O) resulted from incorporating the lower property values and increased state share will flow through district's regular monthly state aid payments. Lastly, Chapter 41 reports have also been updated for those districts that make payments under Chapter 41.
To read the TO THE ADMINISTRATOR ADDRESSED letter on this topic dated February 18, 2016, click on the link below.
http://tea.texas.gov/interiorpage_wide.aspx?id=25769825294