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Lamar CISD's board of trustees approved a balanced budget of $572.2 million for the 2026-27 fiscal year at its June 9 meeting.
A 3% pay increase for all district employees was also approved by trustees within the district's employee compensation plan at the meeting.
What you need to know
At its June 9 meeting, the board voted unanimously on the budget that was presented to them on May 19.
Chief Financial Officer Greg Buchanan said LCISD will go into the new fiscal year with a balanced budget with expenditures and revenue both reaching $572.2 million.
Additional budgetary updates include:
A 3% pay increase for all district employees lands the district at just over $487 million in expenses for payroll, according to district documents.
Buchanan said the debt service fund balance will be at $142.3 million, which will go toward paying back over $100 million in debt in August.
Also of note
On May 19, staff presented to the board two options for the proposed tax rate: $1.1351 per $100 valuation and $1.1451 per $100 valuation, with each one being a decrease from the 2025-26 rate of $1.1469 per $100 valuation.
Superintendent Roosevelt Nivens said the administration is recommending the tax rate be $1.1451 per $100 valuation to allow the district to pay off its debt faster while still reducing it for residents.
Next steps
A public hearing will be held before the board votes on the tax rate at its August meeting.
