The Georgetown ISD board of trustees approved the district’s more than $99 million 2016-17 general fund budget at its June 20 meeting.
The budget includes a 2 percent pay increase for all GISD employees. The increase is based on the midpoint salary for each pay grade, GISD Chief Financial Officer Steve West said.
GISD Superintendent Fred Brent said the board pushed to have the pay increase included in the budget.
“Our school board has a high regard and appreciation for the work our people do in the district,” Brent said. “It was a priority of the board to approve a budget that allowed for a pay increase for all personnel.”
Increasing property values in the district made the pay increase possible, West said. The last several years have brought an upswing in market-driven value.
“It’s a combination of things happening with the property values,” West said. “Statewide, we have seen existing property values [increasing].”
According to West, the rise in property values is due to robust housing demand. However, increasing values have also resulted in fewer dollars coming to the district from the state, he said.
In 2015-16, GISD received about $15.9 million from the state. However, state funding decreased to about$10.5 million for 2016-17, according to the budget.
West said the amount of money the district sends to the state because of recapture, also known as “Robin Hood,” which requires property-rich districts to share revenue with those that are deemed property-poor, would increase to about $3.5 million in 2016-17.
The budget also includes funds to reinstate full-day prekindergarten, a dual language program and hire four additional counselors for campus-based mental health services, West said.
The board is expected to approve the district’s property tax rate of $1.409 per $100 of property value in August. The proposed tax rate is a 1.1 cent increase over the 2015-16 tax rate of $1.398 per $100 of property value.
West said one reason taxes continues to increase for Georgetown residents is because as property values increase, which brings in more local revenue, the state decreases the amount it sends to the distrct. Georgetown ISD’s tax rate is based more on a revenue-per-student basis, taking state and local funds into consideration.
