School Finance Terms Defined

Terms you'll hear in school finance discussions:

(1) Robin Hood - A common name for the process of redistributing property wealth among school districts across the state of Texas; also called Chapter 41 or HB1.

(2) Recapture - The process of redistributing the wealth among school districts. GCISD sends $0.26 of every tax $ collected.

(3) Target Revenue - the funding each school district receives based on various factors. The problem is that target revenue has been adjusted for inflation and is still set on the revenue per student attendance (WADA) rate in 2005-06; for GCISD it's $5,270.

(4) Wealth - we are defined as a property wealthy district because of our taxable property value per student. In 2009-2010 it equaled $646,161 and the 1st level of recapture is set at $476,500.

(5) Average Daily Attendance (ADA) - daily attendance counts averaged over the year and upon which state funding is based. In 2009-10, GCISD's was 13,000. So we're not paid when students aren't in school--we lose money when students are absent.

(6) Weighted Average Daily Attendance (WADA) - process of weighing Average Daily Attendance (student attendance per day) for students participating in programs in addition to daily instruction such as special ed, GT, ESL, etc. For GCISD, WADA was 15,362 in 2009-10.

(7) Interest & Sinking (I&S) Tax Rate - also called debt service rate - basically this is the bond money collected when a bond package is approved by voters. This money can only be used for facilities and capital improvements (buildings & furnishings basically). This money is NOT subject to recapture which means we keep all of it in GCISD. If we don't approve this proposed bond in the May election, then we will have to use the M&O tax revenue for things like roofs, kitchen equipment, HVAC equipment, etc., and even less will be available for payroll, programs and supplies.

(8) Maintenance & Operations (M&O) Tax Rate - $1.04 -the portion of taxes collected that is used for payroll, curriculum, programs, supplies, food, etc.--daily needs. This is what is recaptured and sent back to the state at 26 cents per tax dollar collected.