CSISD Waiting on TEA to Rule on Bond Money Refund

The College Station City Council at its last meeting was updated by Finance Director Jeff Kersten that the city continues to hold more than $1.2 million dollars generated by property owners in the College Station school district.

That money was originally intended for improvements at Wolf Pen Creek Park. Because the council missed a bond-required spending deadline, the city had to issue refunds.

The council last November directed the city’s share, nearly $646,000, to stay with improving Wolf Pen Creek Park. Another $570,000 is headed to Brazos County.

Since November, CSISD administrators have been researching the issue. CSISD has not accepted its share of the bond refund because it’s not known how much if any can be kept under the state’s school finance formula. According to Communications Director Chuck Glenewinkel, district lawyers were not able to find a precedent. That led to contacting the Texas Education Agency, which Glenewinkel says has not responded to the district’s inquiry.

 

More News