The final 2013–14 budget for Frisco ISD includes no tax increase, a 3 percent raise for teachers and nearly $6 million added to the district's reserves.
The Frisco ISD Board of Trustees on June 17 approved the $344,289,600 budget with $350,280,000 expected in total revenue.
Of that budget, 81 percent, or $277,984,952, is dedicated to personnel. Another 8 percent, or $26,285,677, goes to contracted services. Six percent, or $22,545,986, is dedicated to other operating costs. Four percent, or $14,492,233, is earmarked for supplies and materials.
The total tax rate of $1.46 per $100 valuation (42 cents for the debt service and $1.04 for the maintenance and operations fund) is the same as the 2012 rate.
According to Shana Wortham, executive director of communications and community relations for Frisco ISD, the debt service tax rate has stayed at 42 cents since 2011, while the maintenance and operations tax rate rose 4 cents in 2012.
The school expects 2,800 new students in the coming year. Wortham said Frisco ISD has been at the top of student growth in the state and nation on a percentage basis for the past 20 years.
"From 1997–2010, we grew from 10 [percent] to 30 percent annually, and since 2002 we have added anywhere from 2,500 to 4,100 students annually," Wortham said. "We expect this to continue. As we are a larger district now, the percentage growth is less, although the number of students added is still relatively consistent."
District administration is hoping the 3 percent teacher raise will cover more than rising health care costs. Wortham said the district feels the raise is necessary to at least offset the rising costs.
She said the district strives to keep its pay scales competitive with other districts competing for teachers.
"There is nothing more important than attracting and retaining the best teachers and employees," Wortham said.
The nearly $6 million surplus in the 2013–14 budget will bring the district to about 20 percent to 21 percent of its budget in reserve, or about $70 million, Wortham said. She said the district's ideal would be 25 percent in reserve.
"Auditors tell us that 25 percent is the goal in reserves in order to maintain the highest possible bond ratings, which is certainly needed in a district that is growing and building schools to meet the needs of growth," Wortham said.