GCISD school board approves 2018-19 school year budget including a 2.5 percent raise to all staff

GCISD staff presented a preliminary budget to the trustees in May.

GCISD staff presented a preliminary budget to the trustees in May.

On Monday, the Grapevine-Colleyville ISD board of trustees unanimously approved the 2018-19 school year budget, which will include a 2.5 percent pay raise for all staff and raise the starting teacher salary.

Trustees adopted the 2018-19 general operating budget in the amount of $187 million, which is a $15 million increase from last year’s budget.

GCISD Chief Financial Officer DaiAnn Mooney said the budget adjusts the beginning annual salary for new teachers from $50,000 to $51,500 for the 2018-19 school year. Existing teachers will receive additional pay scale adjustments to ensure they meet or exceed the hire-in salary for their years of service.

This budget has no change in tax rates. The maintenance and operations tax rate remains at $1.04 per $100 valuation and the debt service tax rate rests at $0.3567 per $100 valuation.

The budget also shows the district will be sending a $53.7 million recapture payment to the state, which is a $9.7 million increase from last year’s $44 million recapture payment.

Revenue for the general operating budget is $181.5 million, which leaves a deficit of $6.5 million.

The debt service budget includes overall revenue of $55,690,990; expenditures of $53,054,739; and an increase to fund balance of $2,636,251.

To look through the GCISD 2018-19 school year budget book click here: 2018-19 Grapevine-Colleyville ISD budget.

To learn more about recapture and how the school finance system works at GCISD, click here.
By Miranda Jaimes

Editor, Frisco & McKinney

Miranda joined Community Impact Newspaper as an editor in August 2017 with the Grapevine/Colleyville/Southlake edition. In 2019 she transitioned to editor for the McKinney edition. She began covering Frisco as well in 2020. Miranda covers local government, transportation, business and nonprofits in these communities. Prior to CI, Miranda served as managing editor for The Prosper Press, The Anna-Melissa Tribune and The Van Alstyne Leader, and before that reported and did design for The Herald Democrat, a daily newspaper in Grayson County. She graduated with a degree in journalism from Oklahoma Christian University in 2014.