1 / 16

Texas Association of School Boards

Texas Association of School Boards. School Finance Plan October 2010. Why did TASB Create a school finance plan?. TASB represents all 1034 Texas school districts; Districts agree that the current system is seriously broken: Too difficult to explain;

susannah
Download Presentation

Texas Association of School Boards

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Texas Association of School Boards School Finance Plan October 2010

  2. Why did TASB Create a school finance plan? • TASB represents all 1034 Texas school districts; • Districts agree that the current system is seriously broken: • Too difficult to explain; • Not enough money to meet expectations • Significant funding gaps among districts

  3. Underlying Principles of TASB Plan Make school finance system easier to understand All districts get new money; no “Losers” Close existing funding gaps among districts

  4. The TASB Plan is better than the current school finance system because… • Easier to understand • Increases the state’s investment in public schools • Guarantees all districts new money • Closes the funding gaps among districts • Gives locally elected school boards more discretion over how to spend district funds

  5. Features of the TASB Plan • Provides a single Guaranteed Yield for every penny of the district’s M&O tax rate up to $1.17 • Increases the Guaranteed Yield annually to achieve 85% equity goal within six years • Applies recapture to every penny of M&O tax rate

  6. Features of the TASB Plan (cont.) • “Minimum annual gain” and “Hold Harmless” provisions so that no districts lose money as long as legislature funds TASB Plan • WADA calculated separately using current weights and adjustments • Districts continue to receive technology and transportation allotments; high school allotment distributed on per WADA basis

  7. Current School Finance System

  8. The TASB Plan WADA Calculation (Based on weights, allotments and adjustments)

  9. The Guaranteed Yield Over time 2016-17 $59.62 2015-16 $57.64 2014-15 $55.65 $54.40 2013-14 2012-13 $53.30 2011-12 $51.50 0 $1.17 M&O Tax Rate

  10. Guaranteed Yield in 2011-12 $51.50 2011-12 0 $1.17 M&O Tax Rate

  11. Guaranteed Yield Increases 2013-14 2013-14 $54.40 0 $1.17 M&O Tax Rate

  12. Guaranteed Yield Increases 2016-17 $59.62 2016-17 0 $1.17 M&O Tax Rate

  13. Assumptions Underlying the TASB Plan The impact of the TASB Plan is based on the following: TEA enrollment estimates Property value per WADA remains constant over the period of study District tax rates are fixed at 2009 levels No change in CEI, weights or adjustments High school allotment applied on a per WADA basis

  14. Estimated State Cost, Compared to Current Law for the Same Year • 2011-12---$447.3 M additional state cost • 2012-13---$1.068 B additional state cost • 2013-14---$1.543 B additional state cost • 2014-15---$2.169 B additional state cost

  15. Summary • Replaces current school finance system with simpler system. • Directs additional state funds to public education. • Guarantees all districts more money. • Closes revenue gaps among school districts over time.

  16. Additional Resources • For more information about the TASB Plan go to www.gr.tasb.org. • Video presentation • One-page description • Explanation of assumptions • Frequently asked questions

More Related