Ross said he attributes the budget increase to a general pay increase of 4% on the midpoint value for staff to help offset the impact of inflation, which Community Impact Newspaper previously reported. In addition, Ross said the increase is due to availability of materials and supplies being disrupted by the pandemic, therefore raising costs along with opening new facilities, such as a new facility for Tomball STAR Academy, the district’s early college high school being relocated from Tomball High School to the Tomball ISD Innovation Center.
Despite the increase in costs, Ross said the general fund budget—which funds the district’s daily operations—will be balanced with revenue and expenses estimated to each total $192.5 million in FY 2022-23. This is an increase of 8.76% or $15.5 million in revenue from the FY 2021-22 budget, according to the budget report.
In addition, the fast-growth allotment provides funds for three tiers of schools who are the fastest growing. TISD has been at the top of Tier 2 school districts and will now be at the bottom of Tier 1, he said. However, this switch provides an increase in revenue of $4.5 million, Ross said.
Ross said the district’s projected tax rate for FY 2022-23 is unknown, pending information from the Texas Education Agency, but he said he estimates the district’s overall tax rate will be equal to or less than the 2021-22 rate of $1.25 per $100 valuation.
In addition to the budget for the general fund, Ross presented the proposed food service and debt service budgets. The debt service proposed budget, which funds the district’s debt payments, is balanced at $52.3 million, Ross said. Debt payments increased 12.95%, or $6 million, from FY 2021-22 because the district sold bonds, Ross said.
The food service proposed budget is $8.85 million with estimated revenue of $8.98 million, Ross said.
The district's fiscal year begins July 1.
