Education
BY COLBY FARR
Grapevine-Colleyville ISD’s board of trustees adopted the district’s fiscal year 2024-25 budget at a regular meeting in June. The budget’s general fund plans for nearly $185.3 million in revenue and $184.82 million in expenses, according to a budget presentation. The budget was constructed with plans for a voter-approval tax ratification election, or VATRE, in November that would ensure a balanced budget for the fiscal year. The FY 2024-25 budget is made up of three separate budgets that present an overall financial plan for the district. They are the general fund, debt service fund and child nutrition fund. GCISD budget plans for VATRE
Zooming in
revenues if a VATRE is passed by voters in Novem- ber. If approved, GCISD would collect an addi- tional $6 million in property taxes, and the budget would end the year with a $471,531 surplus. The general fund’s revenue plans for the addi- tional $6 million. If the VATRE does not pass, the district could face a $5.5 million budget shortfall.
GCISD’s budget plans a nearly 3% increase in general fund expenditures during FY 2024-25. Officials estimate the district spent nearly $180 million in fiscal year 2023-24. Instructional costs, recapture payments and maintenance costs are the largest expenses budgeted for by the district. The district also anticipates a boost in local tax
Expected general fund revenue
Revenue (VATRE pass) Revenue (VATRE fail) Expenses
$185.3M
$5.5M shortfall
$179.3M
$184.8M
$40M
$0
$80M
$120M
$160M $200M
SOURCE: GRAPEVINE-COLLEYVILLE ISD/COMMUNITY IMPACT
Expenses and revenues
Proposed tax rate
One more thing
General fund Child nutrition Debt service fund
FY 2023-24 adopted tax rate
FY 2024-25 proposed tax rate (if VATRE passes)
FY 2024-25 proposed tax rate (if VATRE fails)
GCISD’s proposed tax rate for the upcoming fiscal year is $0.9014. The tax rate is composed of two separate rates that contribute to the general fund and debt service fund. The proposed tax rate is about 2.5% lower than last fiscal year. The VATRE must be called by Aug. 19 to make it on the ballot for the Nov. 5 election. The proposed tax rates may change after the district receives certified property values.
$41.4M
$7M
$49M $7.1M
$0.9247
Expenses FY 2024-25
Revenues FY 2024-25
$0.9014
$0.8714
$184.8M
$185.3M
$0
$0.2
$0.4
$0.6
$0.8
$1
SOURCE: GRAPEVINE-COLLEYVILLE ISD/COMMUNITY IMPACT
SOURCE: GRAPEVINE-COLLEYVILLE ISD/COMMUNITY IMPACT
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