LTISD approves 2016-17 budget, maintains tax rates

The Lake Travis ISD board of trustees voted unanimously Aug. 16 to adopt a $112.9 million operating budget for the fiscal year, leaving the tax rate unchanged.

The budget, which is effective from Sept. 1 to Aug. 31, 2017, includes a 2 percent raise for all employees, which the board approved in June. That amounts to $1 million in additional expenditures for FY 2016-17.

No one spoke at the public hearing prior to the adoption of the tax rate—which remains at $1.4075 per $100 valuation—and FY 2016-17 budget.

The new budget comes with a $2.04 million draw from the district’s fund balance, or savings account, leaving $26.6 million in the balance.

The district is spending $41.7 million for staff compensation, and nearly as much—$41.1 million—on the state’s recapture law, also known as Robin Hood, which requires property-rich school districts, such as LTISD, to give part of their revenue from property taxes to property-poor school districts.