Eanes ISD is anticipating a $1.2 million budget shortfall for fiscal year 2024-25 following the adoption of its FY 2024-25 budget.

Chief Financial Officer Chris Scott provided the board of trustees with an update of the district's various revenue and expenses leading to the shortfall during the June 18 board meeting.

Breaking it down

Scott previously projected a shortfall of over $2 million. Per agenda documents with updated information, the district is now budgeting:

• $189.4 million in revenue and $190.6 million in expenditures, equaling a $1.2 million shortfall, for the general fund, or the district’s main operating fund that funds staff salaries, instruction, transportation, maintenance and operations, and more.
• $27.6 million in revenue and $19.7 million in expenditures, resulting in a $7.9 million surplus, for the debt service fund, or the interest and sinking fund, which is used to pay long-term debt principal and interest on bonds and other fees.
• $6 million in revenue and $6.2 million in expenditures, meaning a $300,000 draw on the fund balance, for the child nutrition fund, or funds used to finance the school lunch program.

Scott said within the general fund, total personnel expenses increased by 3.1% from FY 2023-24. This is in part of the board's approval of a 2% pay increase for staff but also anticipated increases in employee health care costs. Part of the general fund's expenditures also includes $94.7 million in recapture payments to the state.

What else?

During the June 18 meeting, the trustees accepted a $2 million donation from the Eanes Education Foundation. Per agenda documents, the foundation makes an annual donation to provide financial assistance to all 10 of the district’s campuses, which helps fund the general fund by offsetting a portion of costs of teachers. The donation is part of the district's $189.4 million general fund budgeted revenue.