A financial audit of Georgetown ISD offers a glimpse into how the district’s finances stack up against similar districts and statewide comparisons.
Conducted by MoakCasey LLC, the audit was authorized by the district's board of trustees May 18 as a necessary step for the district as it calls to increase property tax rates through a voter-approval tax rate election, or VATRE.
Digging in deeper
GISD earned a “superior” rating from the Texas Education Agency on the School Financial Integrity Rating System of Texas for both the 2024-25 and 2025-26 school years, according to the audit.
The audit also compared GISD to 10 peer districts with similar operational and demographic features, such as the number of enrolled students, the district's growth rate and attendance rates. The peer districts identified by MoakCasey LLC were Bastrop, Belton, Boerne, College Station, Del Valle, San Antonio’s East Central district, Frenship, Magnolia, Midlothian and Waxahachie.
Of the peer district's, the audit states that GISD's TEA accountability rating was slightly higher above the average of 79.5 at 80.
The majority of the district's revenue comes from revenue raised by its maintenance and operations tax. This tax raises revenue for routine costs like payroll, student programming, field trips and other day-to-day expenses.
More than 75% of GISD's operating revenue comes from its M&O tax, while that number stands at 47% for peer districts. Statewide, districts’ average operating revenue makes up 41.2% of its M&O tax. The district also receives a smaller portion of its budget from the state—10.9%—compared to the peer districts’ average of 36.9%.
Through the VATRE, GISD is seeking to increase its M&O tax rate from $0.6931 to $0.7831 per $100 valuation, which is higher than both the average of its peers and the statewide average for the 2025-26 school year.
The average teacher salary of $64,998 is $3,003 below the state average. Additionally, the average administrator's salary of $91,794 is $7,761 below the state average. For context, the median earnings for a full-time, year-round worker in Georgetown stood at $68,391 according to 2024 Census Bureau data.
GISD also had a higher rate than both state and peer groups of enrollment in career and technical education programs with 32.1% of students enrolled in these programs. The average rate for the peer group was 29.2% while the state average was 27.7%.
By the numbers
While the district is seeking to increase its M&O tax rate, GISD passed a budget that cut its debt service tax rate by $0.03 from $0.3575 to $0.3275 per $100 valuation. Overall, the district’s combined tax rate would rise by $0.06 from $1.0506 to $1.1106 per $100 valuation, which would place GISD in the middle of the pack for Williamson County districts.
If the VATRE is approved, the median homeowner with a homestead exemption could see their annual tax bill increase by $7.97 to about $3,381.39. Of the $17.5 million in additional revenues raised by the VATRE, GISD will net $8.4 million as $9.1 million will be captured with the state.
District officials say the VATRE will help GISD maintain a balanced budget, preserve student programs and provide staff with pay raises.
Although GISD approved a balanced budget June 15, the district will consider cuts as needed if the VATRE fails. District officials said these cuts would not occur immediately, but could include student programming such as field trips.
Mapping it out
Over the past two years, the district has reduced expenses by $8.3 million, with $1.4 million of that number coming from administrative cuts, GISD Superintendent Devin Padavil said at a State of the District event held Sept. 1 in Sun City.
Padavil also said delaying the opening of two new schools helped the district avoid $4 million in overhead costs like utilities, staff and transportation. Beyond delaying the opening of the two schools, GISD also altered its bell schedule to save $800,000 in transportation costs, Padavil said.
During the same meeting, the district presented figures that state $26 million of GISD’s revenues are expected to be sent back to the state as recapture for the 2026-27 school year.
The district also opened enrollment to students outside of GISD’s boundaries, leading to 176 new students that bring additional revenue.
Going forward
The tax rate election will appear on the Nov. 3 ballot as “Georgetown Independent School District Proposition A.” Early voting begins Oct. 19.
