EDUCATION BRIEFS
News from Round Rock ISD
Round Rock ISD passes $518M budget for 2022-23 fiscal year
DISTRICT BUDGET The RRISD board of trustees approved a 2022-23 budget based on proposed tax rates that it has not yet voted to ratify. The board will meet later this year to ratify a tax rate composed of a management and operations, or M&O, rate, and an interest and sinking, or I&S, rate, to fund its debt service budget. GENERAL FUND
ROUND ROCK ISD District officials approved a $518 million operating budget that features increased pay for some staff and a higher estimate for recapture payments due to the state of Texas than previous years. Trustees approved the budget June 16 in a 4-0 vote, absent Place 1 Trustee Jun Xiao, Place 2 Trustee Mary Bone and Place 7 Trustee Danielle Weston. Xiao was not in attendance at the meeting, as the board accepted his resignation June 14. For fiscal year 2022-23, the $518 million budget is based on the presumption of a management and operations tax rate of $0.8546 that will fund district operations. There are two presumed tax rates for debt service, or the Interest & Sinking (I&S) rate, that the board could choose from, according to dis- trict documents—$0.225 and $0.2139.
By comparison, the tax rate for the 2021-22 fiscal year is $1.1336 based on $467.4 million in expenditures. The board did not vote on a tax rate during the June 16 meeting, but it will later in the budget cycle once the Texas Education Agency provides more financial information to the district, according to RRISD Chief Financial Officer Dennis Covington. District documents also show the budget accounts for $72.5 million in recapture payments—payments made to the state based on excess local tax revenue—which have increased with a rise in property values. The documents state RRISD is fac- ing a 13% increase in local property values. While the district budget itself is balanced, the board of trustees decided to absorb increased health care costs without passing them on to employees, creating a $3 million deficit.
Proposed tax rate of $0.8546, $0.039 lower from prior year tax rate of $0.8936
$518M in expenses
$518M in revenue
DEBT SERVICE FUND
Proposed tax rate of $0.2139, $0.0261 lower from prior year tax rate of $0.24
$107.7M in expenses
$108.5M in revenue
FOOD SERVICE FUND
Proposed net income of about $2.3M The budget does not propose a school meal price increase.
$16.5M in expenses
$18.8M in revenue
SOURCE: ROUND ROCK ISD/COMMUNITY IMPACT NEWSPAPER
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