The Conroe ISD board of trustees unanimously approved the fiscal year 2021-22 tax rate, a 3% decrease from the district's FY 2020-21 rate, at its regular meeting Aug. 17.
The adopted rate of $1.176 per $100 assessment includes $0.9160 per $100 assessment for maintenance and operations and $0.26 per $100 assessment for debt service.
Certified property values for the 2021-22 fiscal year are expected to reach $42.12 billion, a 7.46% increase from the previous year, according to district officials.
The tax rate will support the district's budgeted $596.12 million in general fund spending also approved during the Aug. 17 meeting.
According to the presentation, the district’s estimated total revenue is about $586.12 million. The estimated expenditure is about $596.12 million. The $10 million difference is made up by COVID-19 relief funding from 2020-21 to balance the budget, according to district officials.
In a presentation to the board of trustees, Chief Financial Officer Darrin Rice outlined the budget objectives as meeting the needs for the 2021-2022 school year, providing a competitive compensation plan, continuing to meet the needs as outlined in HB3 Reading Academy and Teacher Incentive Allotment and providing continued support for maintaining a safe environment for students and staff.
According to the presentation, all district employees will receive a 3% raise in the 2021-22 year, but bus drivers will receive a 5% raise. The minimum salary in the district will be $12 per hour, and the new teacher starting salary will be $58,500, Rice said. The cost of the raises is $12.5 million.
Rice said CISD will fund 78 new positions within the district in the next school year. Payroll will take up 89.7% of the 2021-22 budget, according to the presentation.