Lake Travis ISD officials presented the fiscal year 2019-20 proposed operating budget during a July 17 board meeting.
LTISD budgeted an estimated ending fund balance of $36 million by Aug. 31.
LTISD projects $131,999,551 in total revenue for 2019-20, a $3,061,187 decrease from last year. Total expenditures are projected at $130,799,551.
“It’s very fiscally responsible that we have a budget surplus this year,” said Johnny W. Hill, Assistant Superintendent for Business, Financial and Auxiliary Services.
The budget reflects an average 5.3% salary increase for LTISD employees approved during a June 19 meeting. The compensation adjustments include a $3,000 raise for teachers, librarians, counselors and nurses with at least five years of experience.
The adoption of House Bill 3 by the Texas Legislature made this year’s budget different from previous years, according to Hill.
“HB 3 raises were a little under 2% and thanks to the board we’ve doubled that,” Hill said. “That’s really a testament to you guys supporting the staff.”
Salary increases total $2.9 million, which is included within the projected expenditures.
Additionally, Lake Travis ISD will also experience increased enrollment for 2019. Included in the budget is a demographic study by Population and Survey Analysts reflecting an enrollment increase of 3.7%, or 395 students. Beginning in fall 2019, LTISD total enrollment is projected at 11,090.
Approval of the FY 2019-20 budget will be requested at the LTISD August 21 board meeting.