2015-16 Summary of Finances & SHARS Correspondence

Yesterday, TEA posted a “To the Administrator Addressed” letter regarding the summary of finances for 2015-16. 

It appears to us that the most significant news regarding the summary of finances is that there will be more change later.  Specifically, the property values used for computation of state aid have not yet been adjusted for the change in the homestead exemption that will be on the November ballot, the hold harmless related to the change in property values is not yet incorporated, NIFA funding is not yet incorporated, and IFA and EDA numbers are simply placeholders based on 2014-15 LPE state aid calculations.  Compared to previous summaries that TEA posted, the latest SOF does incorporate the fractional funding fix authorized by the last legislative session, and has a slightly higher per capita rate of $176.437 (previous rate was $176.135).

A copy of the letter is available at the link below.

TEA also posted correspondence related to the requirement that all districts that receives IDEA-B funding in 2013-14 or 2014-15 must complete a SHARS Reimbursement Report form.  The information will be used to compute maintenance of effort (MOE) compliance.  

A copy of that letter is also posted below.

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Posted By : Joe Wisnoski ~ 9/16/2015 8:14 AM
Related Categories: MCA Updates