This comes as the district expects to close on the $9.3 million sale of a 7.5 acre property at 17 Cypress Blvd., Round Rock, Chief Financial Officer Dennis Covington said Jan. 16.
What you need to know
In a January board meeting, Covington shared an update on the status of the 2024-25 budget as of Dec. 18.
The update showed there were several areas in which expenses were a little higher than originally projected, he said.
Still, the district is projecting about $460 million in expenses and $468.28 million in revenue, making for an $8.2 million surplus.
The details
The district is projecting just under $21.75 million in additional state revenue compared to the budget adopted in June, in light of local property tax collections being about $33.9 million lower than projected for the total year. This amount is subject to change as the district continues collecting local property taxes through the school year, Covington said.
The district also saw increases in expenditures across several areas, including staffing and incentives:
- Additional teachers to support enrollment: $3.1 million
- Enrollment incentive: $3.5 million
- Teacher retirement system—on-behalf payments: $1.68 million
- Retiree payout: $619,000
- Juvenile Justice Alternative Education Program contract increase: $48,000
- Private nurse for a special education student: $40,000
- Additional unfunded budgeted expenses: $1.67 million
- Stipends: $3.4 million
The district passed a balanced $466 million budget in June, being one of few districts in the state to do so at the time.
