Georgetown ISD board of trustees voted Monday to approve the proposed 2018-19 fiscal year budget.

The proposed budget would devote 59.9 percent to instruction, 5.6 percent to student services, 3.9 percent to transportation and 3.6 percent to general administration, among other expenses.

“The budget includes the general operating, food service and debt service funds,” said Pam Sanchez, GISD chief financial officer.

The budget also considers the removal of the $18 million the district would owe the state in recaptured payments, Sanchez said.

GISD expects a total revenue of $161,761,253, and it plans to spend $156,347,910, according to the report. This would leave $5,413,343 to be added to the district's reserve totaling $45,542,502.

Sanchez said GISD wants to continue to grow the reserves to prepare for the district’s known upcoming growth. Sanchez said it is also beneficial to keep the money in reserves so the district will not have to raise bond rates in the future.

The budget was approved 4-1; Place 7 trustee Ben Stewart opposed the proposed budget. Melanie Dunham and David Phillips were not present for voting.

Stewart said his main concern with the budget was the 2 percent midpoint pay increase across the board for district employees. The item was approved 4-1 in a separate action item and is represented in the proposed budget. Stewart also did not vote in favor of the pay increase action item.

“I’m glad we get to provide more money for our teachers and staff and everybody; however, I’m really interested in seeing how we can further incentivize some of our more talented staff and teachers on payroll,” Stewart said during the meeting.

Stewart said he would like the board to look into other ways to incentivize teachers and employees who exceed the district’s mission and beliefs.

In an interview with Community Impact Newspaper following the meeting, Stewart said he wants to see teachers rewarded for their work in order to draw more people to the profession, as well as show appreciation.

“No profession in my mind is more important than teaching,” Stewart said. “I want to see a system where it rewards teachers who go above and beyond and who are doing exceptional things.”

GISD released the proposed budget along with the tax rate early June and held an open forum before its regular meeting Monday. While the budget was approved during the regular meeting, the tax rate is pending appraisal approval and will be adopted during the Aug. 20 regular meeting.

The proposed tax rate remains the same as last year at $1.4090 per $100 valuation, but as the average market value of homes increases, homeowners can still expect to pay higher taxes. The average market value of a home this year is $325,538, up from $311,771 last year, the district document states. This means the taxes due on the average market value home is $4,000.06; up from $3,814.81 last year. That is a $185.25 increase in taxes, according to budget documents.

The next GISD board of trustee meeting will be held July 16.