Teachers will receive a $1,300 raise as part of an $87.8 million balanced budget approved by Montgomery ISD.

The overview

The MISD board of trustees approved the balanced budget during a June 27 school board meeting for fiscal year 2023-24. The district also approved the 2023-24 compensation plan that includes a $1,300 raise for those on the teacher hiring schedule.

The budget includes a 2% salary increase for all other employees. The board also approved an alternate compensation plan—dependent on the district receiving additional state funding—that provides additional compensation for teachers. If funding is received, the compensation plan would be implemented on top of the pay increases.

The fiscal year begins Oct. 1.


The breakdown

There is a 3.1% increase in total general fund revenue projected compared to the FY 2022-23 budget. District officials said the upcoming budget includes new budget items to account for growth, special education and elementary University Interscholastic League stipends that total $1.5 million. Compared to the ongoing budget, this year's proposed expenses are $30.9 million less than the total adopted expenditure from last year.

A tax rate will be confirmed at a later meeting.

Managing the impact


The approved budget includes:
  • Total revenue of $87.9 million
  • Proposed expenditures of $87.8 million
  • Putting $54,436 into reserves
  • A $1,300 increase for employees on the teacher salary schedule
  • A 2% increase for all other employees
  • An increase to substitute daily pay
Quote of note

“We are pleased to adopt a balanced budget that prioritizes safety and employee compensation,” Board President Laurie Turner said in a release. “Given the state’s historic budget surplus, we are hopeful that additional funding will be approved for public schools during a special session of the Legislature this fall.”