With the approval, the program provides one-time supplemental payments worth $13.2 million in the first year, according to agenda documents.
The funding is contingent upon a majority of registered voters approving an upcoming tax rate election slated for the ballot Nov. 8, according to the district’s resolution. The board of trustees gave the go-ahead for that tax rate election Aug. 22, proposing a $0.0755 tax rate increase and bringing the proposed fiscal year 2022-23 tax rate to $1.2101 per $100 of assessed property value. While the average resident would face a $208 increase on their annual property tax bill, FBISD would start to earn an additional $47.7 million in annual revenue beginning in the fiscal year 2022-23.
In the first year of the program—2022-23—employees who have completed up to four years will receive $500, while employees who have completed five to nine years would receive $1,000. Only in year one will staff members with less than five years’ service receive a supplemental payment, according to a Sept. 19 news release. New employees must be employed no later than Oct. 30, 2022, to be eligible for the 2022-23 supplemental payment. It would be included in employees’ Nov. 30, 2022, paycheck.
Starting in year two—2023-24—FBISD will pay out about $100 per year of service to employees who reach milestones of five, 10, 15, 20, 25 years and beyond.
Year one funding would be paid for through FBISD’s remaining Elementary and Secondary School Emergency Relief funds. The cost in year two and beyond is estimated to be $2.2 million annually and would be funded out of the general fund.
