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PISD Gets Good Financial News

Posted Date: 09/27/2017

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Perryton ISD received some good financial news, for a change, from the Texas Education Agency.  In a letter from the TEA, PISD Chief Financial Officer Doug Kile was notified that the district will receive $1,966,431 as an Adjustment for Rapid Decline in Taxable Values of Property.  This is a part of $50 million set aside in the recent legislative session to help school districts who saw their taxable values drop drastically from 2015 to 2016.  
Perryton’s supplement amount is the third largest of the 227 districts throughout the state receiving the supplement, an indication of the severity of the decline in tax revenue the district saw a year ago. PISD’s taxable property values dropped from $1.930 Billion  in 2015 to $1.125 Billion  in 2016.    Kile explained that “While these funds will actually be applied to the 2016-2017 budget year, they will ultimately help cover the deficit we are facing in 2017-2018.” 
An additional $100 Million was set aside by the legislature to help 130 districts who lost significant funds due to the elimination of the state aid program known as ASATR.  Other area districts receiving funding from one of the two programs include: Booker, Borger, Canadian, Darrouzett, Follett, Gruver, Higgins, Miami, Pampa, Panhandle, Spearman, Wheeler and White Deer.