DALLAS -- The Grapevine-Colleyville (Texas) district is considering placing ATMs in schools to help offset an estimated $25 million the district is expected to lose next year under the state's school finance law, according to the Dallas Morning News.
District administrators are studying a proposal to award a contract to a bank to put ATMs in all 17 schools in return for a percentage of transaction revenue.
A district official said the district could receive about 25 cents per ATM transaction, which could result in a profit of about $4,250 a day if all 17 schools each had about 1,000 transactions a day. He predicted that students, parents and school employees would use the ATMs.
The state's school finance law requires property-wealthy districts to send a portion of their tax revenue to state government for redistribution to poorer districts. School officials say some programs' financing could be jeopardized next year because of the district's payment to the state.
The Grapevine-Colleyville district's estimated $25 million payment to the state next year is an increase from this year's $19 million. School districts with tax bases that top $295,000 per student must send revenue to the state. District officials said that when the Legislature convenes in January, they will recommend raising the per-student figure to $325,000.
The ATM proposal was among several recommendations discussed by the school board's revenue enhancement subcommittee, which is among three committees formed by the board to devise ways to offset the impact of the school finance law.
