Leander ISD’s board of trustees approved a budget with $477,061,067 in expenditures at a meeting Thursday night.

The board also voted to approve a property tax rate of $1.51 per $100 valuation. The new tax rate—lower than last year’s rate of $1.51187 per $100 valuation—results in an estimated annual increase of $237 for the average LISD homeowner, according to district documents.

This budget includes an approximate general operating budget of $345 million, or $8,676 per student, according to district documents. The operating budget includes items such as the costs of instruction, staff development, guidance and counseling services, extracurricular activities and maintenance and operations.

According to district documents, LISD could bring in $330.8 million in revenue in the 2018-19 school year, though the district anticipates $345 million in proposed expenditures. While the district is currently looking at a deficit of $14.1 million, LISD Chief Financial Officer Lucas Janda said the district operates frugally and often ends the school year under budget. He said LISD could see $12 million in savings throughout the school year, so the actual spending deficit for the year could be $2.1 million.

“There is a projected deficit, but we work very, very hard to balance the budget when we have our final audit a year from now,” LISD Superintendent Dan Troxell said. “That’s what we do on a consistent basis.”

The district is expected to see a drop in state and federal aid compared to the 2017-18 school year, according to the budget presentation. State aid per pupil will decrease from $1,915.03 to $1,581.52, or 17.42 percent, while federal revenue per student will fall from $134.39 to $123.25, an 8.29 percent decrease.