Klein ISD officials are expecting a tax rate reduction of roughly $0.02 in the district’s fiscal year 2024-25 budget, which would mark the sixth consecutive year trustees have voted to lower the district’s tax rate.

The overview

Trustees received an overview of the district’s budget for FY 2024-25 during the board’s May 13 meeting.

KISD Chief Financial Officer Daniel Schaefer said the reduction would lower the tax rate from $1.0316 per $100 valuation in FY 2023-24 to $1.0119 per $100 valuation in FY 2024-25.

While the reduced rate would be lower than the previous year, officials noted some taxpayers could see an increased tax bill due to increased property values throughout the district.

A closer look

While no hard numbers for proposed expenditures were presented during the overview, Schaefer noted several factors officials have considered while drafting next fiscal year’s budget, including:

• The loss of federal Elementary and Secondary School Emergency Relief funds
• An estimated $2.3 million loss due to a reduction in School Health and Related Services funding
• A healthy fund balance created through conservative fiscal management
• Annual savings of roughly $6 million due to districtwide rezoning efforts earlier this year

Schaefer noted several additional cost-saving measures he said will save the district roughly $2.35 million in expenditures next fiscal year, including:

• Modifications to the district's property and casualty insurance
• Modifications to the district’s trash pickup schedule
• A reduction to the district’s budget for moving temporary buildings

Schaefer added officials are planning on drawing from the district’s fund balance to provide compensation increases for FY 2024-25.

“We are still assessing the market conditions, and we’ll do our best to take care of our teachers and staff while balancing our fiscal responsibility,” Schaefer said.

What’s next

KISD trustees will host their final budget workshop at 5:30 p.m. May 20 at the Frank A. Lemmon Administration Building, located at 7200 Spring Cypress Road, Spring.

Trustees will hold a public hearing and consider formally adopting the district’s budget for FY 2024-25 at the board’s June 10 meeting.