An Audit Report on the Texas Education Agency's Administration of the Instructional Facilities Allotment Program Page: 3 of 9
The following text was automatically extracted from the image on this page using optical character recognition software:
Five of the ten districts surveyed have applied to participate in the next IFA Program
funding cycle (September 2000).
The maps (Figures 2, 3, and 4) on pages 8, 9, and 10 illustrate the taxable wealth
level, student enrollment growth, and geographic diversity of participating and non-
participating school districts (with wealth and growth levels similar to those of IFA
Program participants that have not applied for the IFA Program).
School Districts Throughout Texas Have Leveraged State and Local
Funding to Construct Instructional Facilities Worth $5.6 Billion
From the beginning of the IFA Program in fiscal year 1998 through fiscal year 2001,
approximately 312 districts have or will have borrowed approximately $5.6 billion as
a result of the IFA Program. This includes an estimate of 90 school districts that will
be funded in Round 4 (September 2000) and are awaiting approval.
This $5.6 billion in borrowed funds does not include the interest the districts will pay
during the terms of their indebtedness (8 to 30 years). The Agency does not have the
resources to determine the total amount of principal and interest the State will pay
over the life of all IFA Program-related debt. This is mostly due to changes that may
occur over the term of the bond, such as refunding or refinancing and increase in
During the same four years (fiscal years 1998 through 2001), the Agency and the
districts will have spent approximately $1 billion on IFA Program-related principal
and interest payments. Of that $1 billion, the State's portion will be approximately
$580 million (of $596 million appropriated to the Agency for the IFA Program).
On average for the IFA Program, the State spends 58 cents for every 42 cents that
local districts raise through taxes. The Agency expects the State portion of this ratio
to decline over the term of district indebtedness (8 to 30 years) because property tax
values that are increasing for many districts could lower the amount of their annual
In the fall of 2000, the Agency plans to conduct a survey to determine how many
school districts plan to issue debt for facility construction. The Agency would also
like to identify construction facility needs, which would give the Agency and the
Legislature an idea of the demand for IFA Program funds.
AN AUDIT REPORT ON THE TEXAS EDUCATION AGENCY'S
ADMINISTRATION OF THE INSTRUCTIONAL
SEPTEMBER 2000 FACILITIES ALLOTMENT PROGRAM PAGE 2
Here’s what’s next.
This report can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Report.
Texas. Office of the State Auditor. An Audit Report on the Texas Education Agency's Administration of the Instructional Facilities Allotment Program, report, September 2000; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth517410/m1/3/: accessed September 18, 2019), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.