Friendswood ISD trustees approved a $0.02 decrease in the tax rate for fiscal year 2021-22, as well as the district’s FY 2021-22 budget, at an Aug. 23 board workshop.
The maintenance and operations tax rate for FY 2021-22 is $0.9344, which is a $0.0491 decrease from the previous M&O tax rate, per board documents. The proposed interest and sinking rate is up by $0.0291 from fiscal year 2020-21 at $0.3050, balancing out the total rate of $1.2394 at a $0.02 decrease from the FY 2020-21 rate.
The district is expected to have a $2.5 million budgetary deficit for FY 2021-22. Chief Financial Officer Amber Petree said in early August the district is on track to spend 98% of its budget in the upcoming fiscal year, which would lessen the deficit slightly to $2.26 million.
“I’m feeling better about where we’re headed into this next year,” Petree said Aug. 23.
The total projected expenditure budget for FY 2021-22 is approximately $56.6 million, up 0.8% from the previous fiscal year. FISD’s projected revenues total about $54.1 million for FY 2021-22, which is a 3.3% decrease from the previous year.
Revenues are based on a total enrollment of 5,809 students, down 185 from the previous year, per board documents presented Aug. 23.
Local tax collections will increase 5% from the previous year’s adopted budget, per board documents. Due to the House Bill 3, mandated compression of M&O tax rates, as well as an increase in property values, state funding will decrease by more than 20%.
In June, the board approved a 1% salary increase for eligible employees as well as a flat rate increase for select transportation employees. About 85% of the FY 2021-22 budget will fund educators’ salaries and benefits.
Click here for Community Impact Newspaper’s coverage of FISD’s FY 2020-21 budget.
- The board approved a budget amendment for FY 2020-21 to add about $127,000 for storm-related insurance expenses.
- A change order was approved for additional stadium bleacher lighting for the Friendswood High School football field. The additional cost for this change order is $8,460, per board documents. The total project cost for the FHS stadium lighting for football, baseball and softball fields, including the change order, is $550,200. The improvements are funded from capital projects.