The GCISD board of trustees approved the $190 million general operating budget June 17. On June 11, Texas Gov. Greg Abbott signed House Bill 3, which makes changes to the state’s school finance system.
Under HB 3, GCISD will receive about $6.9 million total from the state, a decrease of about $967,000 from current law. However, recapture payments will decrease from $63.63 million to $49.21 million.
GCISD taxpayers will also see a $0.07 decrease in the district’s tax rate, from $1.04 to $0.97. This was another requirement under HB 3 and reduces taxes by $10.3 million.
With the decrease in revenue from taxes and state revenue as well as the $14.42 million decrease in recapture payments, the district’s funding has increased $3.12 million.
“While our 'Robin Hood' payments are going down $14 million, that does not mean we have funding in our bank,” GCISD Chief Financial Officer DaiAnn Mooney said.
Some of the funding from HB 3 is required to go toward increased compensation for nonadministrative employees. The district is required to give an additional $936,000 to its teachers, but on June 17 the district approved to give its staff and teachers $3.4 million, more than tripling the amount required.
The funding boils down to a $53,500 starting salary for teachers and a $2,500 pay increase for teachers, librarians, nurses and counselors who have six or more years experience. All other employees will receive a pay increase of 2% their midpoint salary, Mooney said.
“This budget is reflective of the board’s commitment to our teachers and staff,” trustee Becky St. John said.
The district plans to adopt its new tax rate in September.