To the Administrator Addressed:
Subject: 2012-2013 Final Summary of Finances
A final Summary of Finances (SOF) and other related reports for the 2012-2013 school year are now available on the School Finance website of the
* Student Attendance Data - This SOF reflects the final student attendance data that districts submitted through the Public Education Information Management System (PEIMS) in July for the 2012-2013 school year. Any changes to average daily attendance (ADA) and full-time equivalent (FTE) student count data submitted and processed since the "near final" SOF are reflected on this updated report. This SOF includes, if applicable: o special education FTEs generated by last summer's extended school year (ESY) services program as reported in PEIMS submission 4, o Optional Flexible School
* Total Tax Collections - The SOF uses audited tax collections as reported on the Schedule J-1 of your district's annual financial and compliance report for the 2013 fiscal year. If your district received an Instructional Facilities Allotment (IFA) for a lease-purchase agreement, the district's local share of the IFA has been subtracted from the maintenance and operations (M&O) tax collections amount before the calculation of state aid. If your district participates in a tax increment reinvestment zone (TIRZ), the district's reported payments of M&O tax collections to the TIRZ have been subtracted from the district's M&O tax collections as well.
* Transportation Allotment - Your district's 2012-2013 transportation allotment is based on the data submitted on the 2012-2013 Route Services Report. If your district did not submit this report, the transportation allotment has been removed from the SOF.
* Staff Salary Allotment - Your district's staff salary allotment is calculated by multiplying the district's number of eligible staff members by
* State Aid Reduction for WADA Sold - The SOF report reflects reductions in state funding for the attendance credits sold by a partner district to a Chapter 41 district. The adjustments were made by reducing state aid based on the number of credits for students in weighted average daily attendance (WADA) involved in the partnership arrangement. The number of
The last section of the SOF, labeled "FSP Allocations and Adjustments," shows the amount of your district's "final" settle-up. If your district was underpaid, the amount owed to the district was paid in
If you have any questions about your district's SOF or its state funding, please contact a consultant in the
Director, State Funding
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