June 2024 Committee on School Finance/Permanent School Fund Item 1
Per Capita Apportionment Rate for the 2023-2024 School Year
June 27, 2024
COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: DISCUSSION
STATE BOARD OF EDUCATION: NO ACTION
SUMMARY: A per capita apportionment rate for each school year is set by the commissioner of education based on an estimate of the amount available for expenditure from the Available School Fund (ASF). A preliminary 2023–2024 per capita apportionment rate of $414.884 was set in September 2023. A final per capita apportionment rate is set by commissioner of education based on actual funds available for expenditure. Agency staff will present the final rate for the 2023–2024 school year at the June 2024 meeting of the Committee on School Finance/Permanent School Fund.
STATUTORY AUTHORITY: Texas Education Code (TEC), §§48.004, 48.251(c), and 43.001(b).
TEC, §48.004, requires the commissioner of education to implement and administer the Foundation School Program (FSP).
TEC, §48.251(c), requires the FSP to be financed with state available school funds distributed in accordance with the law.
TEC, §43.001(b), describes the appropriations that make up the ASF.
The full text of statutory citations can be found in the statutory authority section of this agenda.
PREVIOUS BOARD ACTION: A preliminary 2023–2024 per capita apportionment rate of $414.884 was established in September 2023.
BACKGROUND INFORMATION AND JUSTIFICATION: House Bill 1, the General Appropriations Bill enacted by the 88th
FISCAL IMPACT: The per capita apportionment rate finances part of the cost of the FSP. State aid comes from the ASF and the Foundation School Fund (FSF). The per capita apportionment rate determines how much of each district's total state aid is paid from the ASF. The part that is not financed by the ASF must be paid from the FSF.
Staff Members Responsible:
Mike Meyer, Deputy Commissioner for Finance
Amy Copeland, Chief School Finance Officer, Associate Commissioner
Sara Kohn, Director of State Funding, Forecasting, and Fiscal Analysis
Separate Exhibit:
Per Capita Rate for 2023-2024
(to be provided at the June 2024 SBOE meeting)