The Lake Travis board of trustees unanimously passed a $112.9 million general operating budget Tuesday. Here are a few takeaways:

  • Employees get a 2 percent raise

    The board voted in June to give all faculty and staff a 2 percent raise, amounting to a $1 million expense this fiscal year. Board members originally considered a 1.5 percent increase, but after comparing other local school districts such as Eanes ISD and Austin ISD, they felt a 2 percent raise kept the school district competitive with comparable districts.

  • The tax rate will stay the same

    Trustees opted not to change the current tax rate of $1.4075 per $100 of assessed valuation.

  • The budget comes with a $2.04 million shortfall

    That amount will be taken out of the district’s fund balance, or savings account, to cover all the expenses LTISD will incur during the year. That leaves the district with about $26.6 million in the fund balance.

  • The two biggest expenses are instruction and recapture costs

    The district is spending $58.3 million for teacher compensation and nearly as much—$41.1  million—on the state’s recapture law, also known as "Robin Hood," that requires property-rich school districts like LTISD to give part of their revenue from property taxes to property-poor school districts.

  • There could be a November 2017 bond election

    LTISD is currently undergoing a facilities assessment to determine if any buildings or sites need improvements or upgrades. Depending on the results of the assessment, Superintendent Brad Lancaster said the school district could ask citizens to decide on whether to approve a bond in November 2017.

  • The budget is $12 million more than last fiscal year

    Johnny Hill, LTISD's assistant superintendent for business, financial and auxiliary services said that increase is due to student growth—an estimated 5 percent increase over last year, to about 9,665 students—and the $1 million expenditure to increase employee salaries.