What you need to know
FISD is looking at a nearly $60.21 million budget for its upcoming fiscal year beginning Sept. 1 but expects to only have $57.7 million in revenue, according to district documents.
As was projected back in May, FISD officials expect a districtwide tax rate of $1.1518 per $100 valuation of a resident’s home—a decrease of 4.8% compared to last year.
The details
The fiscal year 2023-24 budget is projected to have about $653,000 more in expenses than the originally projected budget for fiscal year 2022-23, according to district documents. Some of the larger-ticket items—both in terms of increases and decreases in costs—compared to last year include:
- $575,000 total increase for property insurance
- $246,459 in increased safety costs
- $533,000 decrease in costs for technology refresh
- $404,557 decrease in textbooks and subscriptions
- $100,000 increase in electricity
The budget is expected to be voted on by the FISD board in August ahead of the new fiscal year start date.
What else?
Officials could tack on more to the projected shortfall depending on what they decide to do with teacher salaries.
The board at its July 17 meeting approved a 1.5% increase for all employees as well as a $0.50-per-hour raise for custodial workers.
Still on the table is a conditional one-time increase of up to 2% for teachers and professional staff, which district officials will have flexibility on later down the road.
If officials were to take all 2%, the total salary plan would cost about $1.46 million, according to district documents.
That cost could bring the district’s total shortfall anywhere from $1.5 million to $3.77 million, according to district documents. That total will depend on if the district can pass a voter-approved tax rate election, which would go on the ballot in November if the district opts to call one in August.
