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Midway ISD finance chief outlines funding formula, projects deficits and potential state relief
Summary
District finance staff explained Texas school-funding mechanics, projected a roughly $2.1 million deficit for the current year and a potential $6.7 million shortfall next year under current law, and described how proposed state changes could reduce the gap.
District finance staff and administrators gave the board a detailed overview of Texas school finance, showed how Midway ISD's funding is calculated, and presented budget projections and staffing considerations for the current and next fiscal years.
Assistant superintendent/finance lead Wesley (presenting as the district's finance officer) explained the two primary tax buckets that fund schools in Texas: maintenance and operations (M&O) for day-to-day costs and interest and sinking (I&S) for long-term debt service. He described tiered M&O funding including Tier 1 entitlement and Tier 2 golden and copper pennies, noting Midway ISD has eight golden pennies and that the basic allotment and weighted student counts (WADA) drive tier 1 entitlement.
Wesley present…
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