The overview
The district at its June 13 meeting approved its new budget for the upcoming fiscal year, which will start July 1. The budget is expected to come in at just under $360 million—up from around $340 million the year before.
While the district’s tax rate is expected to go down, the average residence will pay about $3,678 in total taxes—about $378 more than last year—due to the total value of the area’s homes going up by about 32.2% compared to last year, according to district documents.
Much of the district’s rise in revenue is expected to come from higher daily attendance and the possibility the state will increase its per-student allotment, according to district documents.
That new money will go to several areas, including the new Nichols-Mock Elementary School opening this year and staffing at Iowa Colony High School, Daniel Combs, associate superintendent and chief financial officer, said at the meeting June 13.
Campuses within the district will also get an increase to their individual budgets, Combs said. Other money will go to career and technical education; extracurricular activities; special education; and covering the rising costs of maintenance, insurance and operations.
The details
About $3 million of the $20 million increase in revenue is expected to come from the state’s student allotment of $6,160 being increased by $90—something that has not happened yet, Combs said.
“We were hopeful that the Legislature would ... support public education as many times they stated they were going to,” Combs said at the meeting. “Unfortunately, that has not come to fruition just yet.”
If the state does not take action to increase the allotment, it could mean forgoing some critical needs, Combs said. For instance, facilities upgrades and maintenance would have to be put off.
What else?
In the coming months, along with keeping an eye on what the state might do, AISD will look to pass its new property tax rate.
The district’s new rate is expected to come in at about $1.2977 per $100 valuation on a home.
This rate is down $0.08 from last year’s $1.3777 and more than $0.15 below the district’s commitment in 2018 to keep the tax rate below $1.45.
The district should have its certified tax rate from the Texas Education Agency by Aug. 1 and will aim to pass the new tax rate Sept. 12, Combs said.
