School districts such as HISD are facing challenges with staffing and competitive salaries, Hutto ISD Chief Financial Officer Glenn Graham said. Hutto ISD will also have to pay state recapture for the first time.
"Rising costs in salary expense, insurance premiums and diesel fuel are just a few examples of why the district had to adopt a $6.3 million deficit operating budget," he said. "Although these costs have put a strain on the budget, the district continues to stay prudent in its spending and takes the role as a custodian of taxpayer money very seriously."
Money out
Compensation for employees comprises 77.8% of the budget as the district faces rising costs of salaries.
"The biggest challenge every year is being able to stay competitive with salaries. However, this year is especially difficult due to the current labor market," Graham said. "Not only are teachers hard to find, but it is especially difficult to get positions such as groundskeepers, bus drivers and food service workers filled. The labor market is very competitive so the district must raise salaries to attract employees from the private sector. This puts a real strain on the budget."
The district did budget for 66 new positions in FY 2022-23 as well as give a 4% raise for all employees.
Overall expenditures increased by 14.5% from $96.5 million to $110.5 million in fiscal year 2022-23.
Money in
The district anticipates property tax revenue to come in at $65.6 million in FY 2022-23, up from $51.9 million in FY 2021-22. Revenue from state sources, however, is projected to drop from $38.8 million in FY 2021-22 to $33.9 million for FY 2022-23.
To read about the city of Hutto's budget, click here.
