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Lancaster ISD staff recommend budget amendment to record estimated $1.38 million recapture payment
Summary
Finance staff told the board the district must record a revenue and offsetting expenditure to reflect an estimated state recapture payment of $1,379,800; the presentation explained recapture redistributes excess local property tax revenue to the state.
Shaw Moseley presented a proposed functional and revenue budget amendment to reflect the district’s required recapture payment to the state, explaining that recapture occurs when a property‑rich district must return excess local tax revenue for statewide redistribution.
Moseley said the district’s estimated recapture liability for the year is $1,379,800 and that the state takes the revenue while the district must show a corresponding expenditure and revenue entry on the books; she described the net effect as not changing the bottom‑line budget but requiring the accounting entries.
No final board vote on the amendment was recorded during the work session; Moseley answered board questions and staff will carry forward the amendment for formal action as appropriate.
