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
• An increase in the homestead exemption
• Tax relief for homeowners over 65 years of age
• A $900,000 error in CTE funding made by a prior school board
• Changes in recapture
• Lower enrollment than originally projected

“We have been working diligently to get us into the black," Braun said. "This year's budget, we expect to begin putting money back into our savings—that is our goal."

Superintendent Brad Schnautz also highlighted that there has been no increase in state funding for public schools. The per-student allotment sits at $6,160 and has not been increased since House Bill 3 passed in 2019.

"We are coming up on a critical crossroads in GCISD as far as the funding goes," Schnautz said. "The legislature hasn't done its part, and we are hoping that intelligent minds will prevail in the 89th session as we start that in January—that they will invest in public education and ultimately invest in our people, in our staff and our kids."

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.

Editor's note: The original post has been edited to include additional information that contributed to the budget deficit and to clarify the district's goals.