The board of trustees unanimously approved a balanced budget for the 2016-17 school year at its July 18 meeting.

Although the budget does not have to be approved until Aug. 31, the board—along with FISD Chief Financial Officer Connie Morgenroth—began preparations in advance as a result of the tax ratification election in September.

“I just felt like it would be good for the board —and the board did, too—to have all of this information in July rather than waiting until August so that the public has all of the information they need,” Morgenroth said. “It’s out there, and they have time to ask questions and make informed decisions for how they vote on the tax ratification election.”

Voters will decide on a 2 cent increase to the tax rate. Officials created a secondary budget option in the event the rate does not pass. If the tax rate is approved, the budget will be balanced at $47.95 million in revenue and expenditures.

Local sources make up $31.4 million of revenue while the state contributed $16.5 million.

Payroll—including districtwide teacher salary raises—makes up 83 percent of the budget’s expenditures. Morgenroth said if the TRE fails, it would create a $2.5 million deficit.