On June 13, the New Braunfels ISD board of trustees approved the fiscal year 2022-23 budget following a public hearing.
The $118.51 million budget represents a 9.63% increase from the FY 2021-22 budget of $108.1 million, according to the district.
Expenditures for the general fund budget are anticipated to be $88.91 million; the food service fund is set at $3.67 million; and $25.93 million has been allocated to the debt service fund.
The plan includes an increase in pay for all employees with each employee receiving a 3% increase on the midpoint. Additionally, the plan increases in the starting pay rate for instruction and special education aides, maintenance and bus drivers. The budget also includes funds to begin a robotics program and to staff two new administrative positions.
The district has also allocated approximately $25 million-$30 million from cash reserves to cover outstanding costs of constructing a new elementary school in the Legend Pond neighborhood.
Approximately $107.15 million from local sources, $11.37 million from state sources and $3.21 million from federal sources will contribute to the $121.73 million in revenue the district is projected to receive.
This year, the total taxable value of all property in the district is expected to rise from $7.82 billion to $9.76 billion, according to the district. Property taxes are anticipated to provide $75.12 million to the district’s budget.
The district expects to receive approximately $9.8 million less from the state this year compared to last year, Superintendent Cade Smith said. As property values increase, state contributions per student decrease, accounting for the difference.
During the 2021-22 school year, the state contributed $1,412 per student, compared to $550 for the 2022-23 school year, according to the district.
Prior to the meeting, the board also hosted a public hearing to discuss the proposed budget and tax rate, which will not go into effect until it is adopted by the district in August.
District officials have proposed a maintenance and operations, or M&O, tax rate that will not exceed $0.8546 per $100 valuation and an interest and sinking fund, or I&S, tax rate that will not exceed $0.3408 per $100 valuation for FY 2022-23.
The M&O fund covers the general fund budget, while the I&S fund covers debt service for bonds approved by voters.
If adopted, the total proposed tax rate would be $1.1954 per $100 valuation, compared to the rate of $1.1978 per $100 valuation during FY 2020-21.
