The PISD board of trustees voted unanimously to adopt the budget at its June 20 meeting.
The big picture
The district expects to operate on a deficit of $24 million, largely due to a rising recapture payment.
Revenues are expected to be $754.1 million, while expenses are set at $777.2 million, including the $252.9 million recapture payment.
Recapture redistributes property tax dollars from property wealthy districts to those the state deems property poor. Deputy Superintendent Johnny Hill said during the meeting that he expects the recapture payment to continue rising.
“As long as our [enrollment] is slowly going down, and our property values are going up, recapture is going to go up every year,” Hill said.
This year’s projected deficit is down from the $38.4 million that was approved ahead of the 2022-23 school year. PISD is ending the 2022-23 school year with around a $13.5 million deficit, Hill said.
Zooming in
Among other increasing costs for the district is a 3% raise for teacher starting salaries the board approved in May, along with several other staff pay increases.
Hill added that inflation is also a factor, with costs expected to rise most in the following categories:
- Utilities
- Insurance (property, vehicle, and cyber)
- Custodial
- Various technology contracts
- Contracted security
- Transportation fuel
By the numbers
The largest chunk of PISD’s budget is set to go towards instruction, with maintenance and operations, and student support services as the next biggest expenses.
The total breakdown of where PISD’s budget will go is as follows:
- Instruction (65%)
- Maintenance and operations (10%)
- Student support services (7%)
- Instructional support (6%)
- Transportation (4%)
- Co-extra curricular activities (3%)
- Administration (2%)
- Non-student support services (2%)
- Other charges (1%)
Also of note
The board also held a public hearing to discuss the district’s proposed tax rate, which is set to decrease for the fifth consecutive year.
The proposed rate of $1.21685 per $100 valuation is a decrease from the fiscal year 2022-23 rate of $1.25975 per $100 valuation.
The tax rate is set for adoption in August.
Learn more
The budget can be found on PISD’s website.
