Round Rock ISD Board of Trustees adopts a $374 million budget for the 2015-2016 school year.[/caption]
Round Rock ISD Board of Trustees unanimously adopted a $374 million budget for the 2015-2016 school year—a $12.7 million increase in revenue from last year’s budget.
RRISD's revenue increases are largely due to $9 million in additional funding from the state and an increase in taxes from properties in the district, said Randy Staats, the district’s chief financial officer. He said district property values are expected to go up 12 percent, which would mean more tax revenue for the school district.
Round Rock ISD will see 676 more students in the next school year, Staats said. To account for a student body of more than 47,000, the district allocated $2 million for new teachers and staff, he added.
The budget also includes a $4.7 million increase for current staff. On May 28, the Board of Trustees approved $1,000 raises for all hourly employees and a 2 percent of midpoint increase for salaried employees.
In addition, more school resource officers are being added to district high school and middle schools to police campuses.
Staats said district staff renegotiated utility contracts for 67 percent of the district. At the June 9 budget workshop, Staats said the reduction in utility expenses is partially offset by increases in utility costs to heat and cool the addition of portable classrooms.
Freeport tax exemption expected to draw manufacturers
The Board also approved a tax exemption meant to facilitate business growth in Round Rock.
When it takes effect in the 2015-2016 school year, the Freeport Tax Exemption will apply to companies with inventory that is brought into Texas for manufacturing and exported out of the state within 175 days. Though the exemption will remove millions of dollars in revenue, the district anticipates it will receive signed agreements from businesses to offset the tax loss for the first five years.
The tax exemption is expected to draw more businesses to Round Rock and keep existing businesses from relocating, thereby improving the economy in the city, which would ultimately benefit the school district. The city of Round Rock and Williamson County both exercise the exemption.
At a meeting in April, Staats said 40 companies in the district manufacture Freeport goods, including Dell, Flextronics and TECO-Westinghouse. The exemption will likely result in a slight increase in residential property taxes--about $1 per month, according to Staats.
Trustee Terri Romere made the motion to adopt the exemption, saying it was ultimately a good move for homeowners.
“It’s absolutely great for Round Rock,” she added.
Board Secretary Paul Tisch said he hoped the tax break would encourage businesses to partner with education programs.
Board President Charles Chadwell said he is confident the district will at least break even under the exemption, and he hopes the tax exemption will draw more businesses to Round Rock.
He mentioned he was hesitant to put more of a burden on homeowners, whose vote the board needs to pass future bonds, but he ultimately voted in favor of the exemption.
“There’s been a lot of push for it,” he said. “I know that it means a lot to a lot of people here.”
The motion passed 6-0, with Board Vice President Pauline Law abstaining, she said, due to a conflict of interest.
Round Rock ISD Board of Trustees adopts a $374 million budget for the 2015-2016 school year.[/caption]
Round Rock ISD Board of Trustees unanimously adopted a $374 million budget for the 2015-2016 school year—a $12.7 million increase in revenue from last year’s budget.
RRISD's revenue increases are largely due to $9 million in additional funding from the state and an increase in taxes from properties in the district, said Randy Staats, the district’s chief financial officer. He said district property values are expected to go up 12 percent, which would mean more tax revenue for the school district.
Round Rock ISD will see 676 more students in the next school year, Staats said. To account for a student body of more than 47,000, the district allocated $2 million for new teachers and staff, he added.
The budget also includes a $4.7 million increase for current staff. On May 28, the Board of Trustees approved $1,000 raises for all hourly employees and a 2 percent of midpoint increase for salaried employees.
In addition, more school resource officers are being added to district high school and middle schools to police campuses.
Staats said district staff renegotiated utility contracts for 67 percent of the district. At the June 9 budget workshop, Staats said the reduction in utility expenses is partially offset by increases in utility costs to heat and cool the addition of portable classrooms.
Freeport tax exemption expected to draw manufacturers
The Board also approved a tax exemption meant to facilitate business growth in Round Rock.
When it takes effect in the 2015-2016 school year, the Freeport Tax Exemption will apply to companies with inventory that is brought into Texas for manufacturing and exported out of the state within 175 days. Though the exemption will remove millions of dollars in revenue, the district anticipates it will receive signed agreements from businesses to offset the tax loss for the first five years.
The tax exemption is expected to draw more businesses to Round Rock and keep existing businesses from relocating, thereby improving the economy in the city, which would ultimately benefit the school district. The city of Round Rock and Williamson County both exercise the exemption.
At a meeting in April, Staats said 40 companies in the district manufacture Freeport goods, including Dell, Flextronics and TECO-Westinghouse. The exemption will likely result in a slight increase in residential property taxes--about $1 per month, according to Staats.
Trustee Terri Romere made the motion to adopt the exemption, saying it was ultimately a good move for homeowners.
“It’s absolutely great for Round Rock,” she added.
Board Secretary Paul Tisch said he hoped the tax break would encourage businesses to partner with education programs.
Board President Charles Chadwell said he is confident the district will at least break even under the exemption, and he hopes the tax exemption will draw more businesses to Round Rock.
He mentioned he was hesitant to put more of a burden on homeowners, whose vote the board needs to pass future bonds, but he ultimately voted in favor of the exemption.
“There’s been a lot of push for it,” he said. “I know that it means a lot to a lot of people here.”
The motion passed 6-0, with Board Vice President Pauline Law abstaining, she said, due to a conflict of interest.
