The $294.58 million budget includes $156.45 million for instruction, and almost $26 million is expected to go back to the state of Texas in the form of recapture payments.
“Our budget assumptions for this budget included the third quarter demographer report, which had 28,825 students projected for next year,” CISD Chief Financial Officer Crystal Hermesch said.
Additionally, the board adopted a $15.98 million child nutrition fund budget and $100.53 million debt service fund budget.
The projected combined property tax rate for FY 2022-23 is $1.2746 per $100 valuation, with $0.9246 going toward the maintenance and operations fund, which pays for the general fund budget, and $0.35 for the interest and sinking fund, which pays for debt services. The board will move to vote on the tax rate at a later date.
About $0.12 of the maintenance and operation rate is part of the tax ratification election approved by voters in November to increase the district’s maintenance and operations rate on the condition that the revenue generated would afford the district the ability to raise staff pay and hire for new positions. That now accounts for a 3% pay increase each year over the next four years.
Hermesch said that combined rate is the lowest the school district has seen since 2007, and she added that there was a 29% increase in property appraisals.
