According to the Texas Education Agency (TEA) website, it has received many inquiries regarding the current rule that disqualifies a district from receiving a Permanent School Fund bond guarantee if it has declared a financial exigency.
Commissioner Scott has offered to consider applications for a waiver of this rule from districts that may declare financial exigency because of anticipated state funding reductions. While the state budget for the Foundation School Program for the next biennium is not yet known, soundly managed districts will be eligible to receive the guarantee despite anticipated state budget cuts. Each district’s financial soundness will be individually evaluated, and a bond guarantee decision will be based on the district’s financial practices, not the state budget.
To view the full context of this posting on the TEA website and to read more about the bond guarantee program: http://www.tea.state.tx.us/index2.aspx?id=6794
