Frisco ISD board of trustees approved the district’s annual budget June 20, and for the first time the board called for a tax ratification election to raise the district’s tax rate by 13 cents.
If voters approve, the combined tax rate, which is currently $1.46 per $100 of valuation, would increase to $1.59. The increase would mean an extra $37 a month, or $433, on an average home within FISD.
Early voting for the tax ratification election will be from Aug. 10-23 and election day is Aug, 27.
FISD has the lowest tax rate in Collin County and raising the tax rate will help the district to keep up with the growth and provide additional funding into its operations, district officials said.
“What this board has done and past boards is keep your tax rate low,” FISD Superintendent Jeremy Lyon said during the meeting. “This day has been coming and we’ve absorbed as much as we can.”
FISD is projected to lose $30 million in state funding because the state is eliminating the fund known as the Additional State Aid for Tax Reduction for the 2017-18 school year.
The state began cutting from the ASATR fund in 2011, and by the 2017-18 school year FISD will have absorbed a total of $125 million.
FISD CFO Kimberly Pickens said the 13-cent increase would help the district to make up for the loss of that funding.
The annual budget will address enrollment growth and employee compensation by an increase in spending of $42 million above the 2015-16 budget.
Frisco ISD 2016-17 budget includes new staff and raises.[/caption]
“This budget gives the district the ability to move forward and continue to do great things in the future,” board member Bryan Dodson said.
The budget will allow for new teachers and staff at the campus and administrative level.
The budget includes $7.8 million for staff raises and adjustments to teacher pay scales. This represents a 2 percent of midpoint salary increase.
The beginning salary for new teachers will be adjusted from $48,500 to $50,000 for the 2016-17 school year, and the new hire salary guide for teachers and nurses will be adjusted accordingly.
For more information about the tax ratification election, visit
www.friscoisd.org/tre.
Frisco ISD 2016-17 budget includes new staff and raises.[/caption]
“This budget gives the district the ability to move forward and continue to do great things in the future,” board member Bryan Dodson said.
The budget will allow for new teachers and staff at the campus and administrative level.
The budget includes $7.8 million for staff raises and adjustments to teacher pay scales. This represents a 2 percent of midpoint salary increase.
The beginning salary for new teachers will be adjusted from $48,500 to $50,000 for the 2016-17 school year, and the new hire salary guide for teachers and nurses will be adjusted accordingly.
For more information about the tax ratification election, visit www.friscoisd.org/tre.
