Current versus Former Funding Formulas

Last week we looked at our overall M & O budget for 2011-2012. Today, I want to look at our state funding under current law and compare that with what EISD would have received had the funding formulas not been changed.

Under our current system, we are estimating that EISD will earn about $9,542,378 in M & O funding for the 11-12 school year. This amount includes state and local funding. Under the previous funding system, EISD would have earned about $10,130,133. Now, since our local funding would be constant in both systems (the amount of M & O taxes would not change regardless of the funding system), the difference in the two amounts comes from a decrease in state funding. Under the current system, EISD will earn about $587,755 less in state aid than under the former funding system.

For 12-13, the difference will be even greater. Using the same student counts for 11-12 (in other words, expecting no growth in enrollment), EISD is expected to earn about $9,335,972 in state and local funding. Under the old system of funding, with the same numbers, EISD would have earned about $10,105,210. The difference for 12-13 is projected to be about $769,000. This additional loss of state funding, coupled with the loss of the Education Jobs Grant ($266,000), will pose additional challenges for our district in 12-13.

Since we already have a good idea what is going to happen to our state funding, plans can be made to adapt to this additional loss of funds. Regardless of the situation, EISD is committed to providing our students with a world-class education. If you have any questions, please do not hesitate to contact me at cholcombe@eustaceisd.net.

The HS volleyball teams will be in action against Edgewood tonight. The matches will start at 4:30. Also, the EISD Board of Trustees will be holding a called meeting tonight to discuss the final amended budget for 2010-2011. The meeting will start at 6:00 and be held in the HS library.

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