2010-2011

Greenville ISD3504 King St/P.O. Box 1022Greenville, Texas 75403www.greenvilleisd.org

Greenville Independent School District

GISDWe Educate Today…

You Succeed Tomorrow

2012-13 State Budget Update The Senate passed its version of

2012-13 State Budget. Now goes into House/Senate Conference committee to debate differences.

• Senate’s Funding Level - $4.0 Billion under-appropriation of current law to Education for biennium

• House’s Funding Level - $7.8 Billion under-appropriation of current law to Education for biennium

• Difference of $3.8 Billion or $2.5 Billion if August pmt. is delayed

School Finance Legislation Update CSSB 22 – Senator Shapiro CSHB 2485 – Rep. Hochberg (may

be dead in current form, however, could attach to another bill)

CSSB 22

• Based on $4.0 Billion cut

• GISD loses $2.8 million / biennium – Equity Center

CSHB 2485

• Based on $6.5 Billion cut

• GISD loses $2.9 million / biennium – Equity Center

Comparing Bills w/Same Reduction CSSB 22, funded at House Level CSHB 2485, funded at Senate Level

Current ProposalsCSSB 22 -

$1,343,781CSHB 2485 - $1,390,087

Senate Funding Level

CSSB 22 - $1,343,781CSHB 2485 -

$557,011

House Funding Level

CSSB 22 - $1,703,070CSHB 2485 - $1,390,087

$4.0B

$6.5 B

CSSB 22 w/Deuell Amendment Beginning in FY 2014, phases out

Target Revenue over six years ending in FY 2019. Uses savings to increase Basic Allotment.

FY 2012-2013

<$2,126,167>

FY 2014-2015

$1,268,955

FY 2016-2017

$3,570,071

FY 2018-2019

$3,943,747

No Finance Legislation Passes ? PRORATION If no School Finance Legislation is passed

to allocate budgeted appropriations, then current law obligations would remain in effect :

o FY 2011 – No change in funding ($-0-);o FY 2012 – Commissioner petitions 83rd legislature

for $4.0 Billion appropriation to fund current law obligations to districts (i.e. use rainy day fund); if approved no change in funding ($-0-); If not, then prorate shortfall to districts ($1-3

mil.).

Education Jobs Fund Update To pay salaries of school-level

employees, including; teachers, principals, assistant principals, aides, counselors, etc.

Allocation

Method

• Allocated $134.17 per WADA using total 2010-11 DPE WADA

GISD Allocatio

n

• GISD 2010-11 DPE WADA = 5,841.969

• Allocation = $783,817

Parameter Bond Refunding Update

• Outstanding Principal - $1,505,000• Bonds became callable – 2/15/2011

Series 2001I&S

Parameter ActualMaximum Interest Cost

< 4.0 % 3.638 %

Minimum PV % Savings

> 6.0 % 11.435 %

Final Maturity Date 2026 2026Maximum Principal $1,505,000 $1,505,000Original ActualAvg. Interest Cost 5.2203 % 3.638 %Final Maturity Date 2026 2026Maximum Principal $1,505,000 $1,505,000Estimated Total Savings

$225,131.81

QUESTIONS FROM BOARD OF TRUSTEES

Greenville Independent School District prepares, inspires, and empowers students in a safe and nurturing environment to become responsible citizens who successfully compete in a global society.

GISD Mission Statement