Friendswood ISD’s FY 2022-23 updated preliminary budget proposes decreased tax rate

Friendswood ISD will propose dropping its tax rate by nearly a cent under its updated fiscal year 2022-23 preliminary budget.

FISD Chief Financial Officer Amber Petree presented the preliminary budget for FY 2022-23 at the July 18 board of trustees meeting.

The district’s preliminary budget includes a tax rate of $1.2315 per $100 valuation, a decrease of $0.0079—or 0.64%—from the FY 2021-22 rate of $1.2394. Maintenance and operations comprise $0.9265 of the total, with an interest and sinking rate of $0.305.

The district previously estimated a lower tax rate of $1.222 in an earlier version of the preliminary budget presented at the June 13 board meeting. This rate would have represented a $0.0174 decrease—or 1.4%—from FY 2021-22’s rate.

“We’re still proposing a drop, but it’s not quite the drop that was presented last month,” Petree said.

The plan projects expenditures totaling $59.5 million, compared to the $56.6 million originally budgeted for FY 2021-22. A $3.1 million deficit is anticipated for the upcoming fiscal year. However, Petree said the district has decreased its projected $2.5 million FY 2021-22 deficit to just over $750,000 as of July.

The district’s budget process for FY 2022-23 began in January and will conclude in August with the adoption of the budget, according to agenda documents. The board agreed to hold the required public meeting to discuss the proposed budget and tax rate Aug. 22 at 7 p.m. during its workshop session.