What you need to know
Trustees approved the following budget scenarios for the 2025-26 school year June 26:
Maintenance and operations budget:
- Expenses: $129.36 million
- Revenue: $125.83 million
- Shortfall: $3.5 million
- Expenses: $45.6 million
- Revenue: $46.6 million
- Surplus: about $1 million
- Expenses: $6.29 million
- Revenue: $6 million
- Shortfall: $258,777
The combined budget will be supported by a maximum property tax rate of $1.2052 per $100 of valuation, broken down into $0.7552 for maintenance and operations, and $0.4500 for interest and sinking.
This is the same tax rate passed in the 2024-25 financial year, Steed said, and represents a not-to-exceed amount that could be lowered as the district awaits a final version of its maximum compressed rate from the Texas Education Agency.
What they're saying
With House Bill 2 made law, Steed said his staff would bring amendments to the board in August or September once the district receives guidance from the TEA on its implementation. The school funding bill mandates raises for teachers based on level of experience, among other changes.
Board President Billie Logiudice remarked that the budget passed that night would likely not be the same in three months, when all the legislative changes are brought to the board for approval.
"This always seems very interesting that we are held responsible for passing a budget on a bunch of 'if this and this,'" Logiudice said.
What's next
Steed said the district's projected $968,493 in recapture could also be lowered depending on the outcome of the November election.
Senate Bill 4, a measure to increase the homestead exemption from $100,000 to $140,000, will appear on the ballot in November. Should it pass, Steed said the reduction in the district's overall taxable value could also lower the amount owed to the state in recapture.
