Grapevine - Colleyville - Southlake | July 2024

Education

BY MARK FADDEN & JONATHAN PERRIELLO

GCISD ends FY 2023-24 with $4.76M deficit Grapevine-Colleyville ISD board members unanimously approved the fiscal year 2023-24 final amended budget on June 17, which included a $4.76 million deficit. The details Board President Shannon Braun said there were several elements beyond the board’s control that contributed to the deficit, including: • $780,000 for additional school resource officers per a state mandate • A $900,000 error in Career and Technical Educa- tion funding made by a prior school board • Recapture changes • No increase in state funding “We have been working diligently to get us into the black," Braun said. "This year's budget, we expect to begin putting money back into our

CISD avoids budget shortfall with sale David Johnson, assistant superintendent for financial services at Carroll ISD, updated the school board on the fiscal year 2024-25 budget, which was approved on June 24. In a nutshell The district was set to operate with an $8.5 million budget shortfall going into next fiscal year, Johnson said. However, the district made $8.5 million selling various properties. A balanced budget was first presented on June 10. The district’s total projected revenue for FY 2024-25 dropped from $105.7 million to $105.3 million, partly due to a forecasted dip in enrollment next year by nearly 120 stu- dents, according to data provided by CISD. This impacts funding the district receives from the state, Johnson said.

GCISD’s revenue The majority of Grapevine-Colleyville ISD's revenue comes from property taxes.

Property taxes: 84% State revenue: 8%

Federal revenue: 1% Other local revenue: 7%

Revenue: $175.23M

Expenses: $179.99M

SOURCE: GRAPEVINE-COLLEYVILLE ISD/COMMUNITY IMPACT

savings—that is our goal." The backstory

School districts depend on property taxes for the majority of their overall revenue for maintenance and operations. Chief Financial Officer Derick Sibley said total revenue for FY 2023-24 was $175.23 million while expenditures totaled $179.99 million. Sibley said some of the “unrealized assump- tions,” included homestead exemption increases, school resource officer changes and actions the state took after the budget was presented.

Water 2X a Week or Less (Even in the summer. Really!)

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GRAPEVINE - COLLEYVILLE - SOUTHLAKE EDITION

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