Frisco ISD approves $781 million budget for 2020-21 school year

Frisco ISD will have a budget of over $781 million for the 2020-21 school year as a result of board approval.

The board approved the budget for next school year at a June 22 special meeting. Around $605 million in the budget will go toward the operating fund, nearly $25 million toward the child nutrition fund and around $151 million toward the debt service fund, according to FISD Chief Financial Officer Kimberly Smith.

Compared to the 2019-20 budget, the 2020-21 budget saw a 6.93% increase in funding for maintenance and operations, a 9.5% increase in debt service and a 7.45% increase in total expenditures, according to district documents.

FISD’s combined tax rate for 2020-21 is expected to decrease slightly, per district documents.

Once taxable values are certified later this summer, the district anticipates a combined 2020 tax rate of $1.3158— a 2.25-cent drop from 2019.

The maintenance and operations portion of the tax rate, which pays for operational expenses, is dependent on statewide tax compression mandated by House Bill 3. The bill was passed by the Texas Legislature in 2019, and requires the state to compress school districts’ tax rates based on property value growth.

The board is expected to adopt the tax rate in September, according to a June 23 release from FISD.

Below is a breakdown of the operating fund by major function: