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Granbury ISD records $16.1 million revenue adjustment after property-value software error; board approves budget amendment
Summary
CFO told trustees the district received a $16.1 million revenue adjustment tied to a frozen-levy reporting error in property-value software; board approved budget amendments after discussion and cautioned against spending the funds until final state adjustment.
Granbury Independent School District trustees approved budget amendments Tuesday that include a $16.1 million revenue adjustment the district said resulted from an error in property-value reporting.
Emmett Whitefield, the district chief financial officer, told the board the amount stems from a software problem that incorrectly handled frozen-levy values used in state funding calculations. He said the district’s calculation suggested it should have received about $1.6 million but the adjustment produced roughly $16.8 million in revenue.
"My calcul…
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