According to the budget, in FY 2022-23, the district will have an estimated taxable value of $12.65 billion, which is an increase of $730 million from FY 2021-22.
This new budget gives the district a general operating fund increase of 7.55% with 2022-23 revenue estimated to be $233.8 million. This estimated revenue is $17.66 million higher than the FY 2021-22 revenue.
On the expenditures side, the district anticipates spending $258.75 million, which is $33.51 million, or 12.95%, higher than the previous year.
Bill Atkins, JISD assistant superintendent of finance and operations, said personnel makes up 84% of total expenditures and 93% of total revenue.
According to Atkins, the budget includes $650,000 for increasing capacity of the JISD Curriculum and Instruction Department.
Through all revenue streams under all funds, the estimated revenue is $297.08 million and $322.04 million in expenditures, resulting in a $24.95 million shortfall.
“If we adopt the budget, we have an almost $25 million budget deficit,” Atkins said. “But we do have a healthy fund balance.”
Under the budget, the maintenance and operations tax rate would be $0.8546, and the interest and sinking tax rate would be $0.3654, bringing the total rate to $1.22. Atkins noted tax rates are estimated and will not be officially adopted until September.
The budget also includes the compensation plan, which the board of trustees agreed to have a 4% midpoint raise for professional staff; a 6% midpoint raise for auxiliary, clerical, teachers and other staff; and one-time incentives for employees.
The board of trustees will meet again June 30 to talk about safety and security needs and options for addressing district safety.