Grapevine-Colleyville ISD board members unanimously approved the fiscal year 2023-24 final amended budget on June 17, which included a $4.76 million deficit.

The details

Board President Shannon Braun said there were several elements beyond the board’s control that contributed to the deficit, including:
  • $780,000 for additional school resource officers per a state mandate
  • A $900,000 error in CTE funding made by a prior school board
  • Changes in recapture
“The part of the budget that the board controls was off by $1,” Braun said.

The backstory

School districts depend on property taxes for the majority of their overall revenue for maintenance and operations. From a percentage standpoint, GCISD’s revenue can be broken down as follows:
  • Property taxes: 84%
  • State revenue: 8%
  • Other local revenue: 7%
  • Federal revenue: 1%
Chief Financial Officer Derick Sibley said total revenue for FY 2023-24 was $175.23 million while expenditures totaled $179.99 million.