Education
BY COLBY FARR
In June, Carroll ISD’s board of trustees adopted a balanced budget for fiscal year 2024-25 that plans an increase in expenses largely driven by recapture payments. The budget’s general fund plans for nearly $131.2 million in revenue and nearly $131.2 million in expenses, according to a budget presentation. CISD plans for higher recapture
The budget also anticipates an increase in recapture payments by the district. David Johnson, assistant superintendent for financial services, said recapture payments drove much of the 11% increase in expenses this year. The FY 2024-25 budget is made up of two
The budget General fund
Debt service fund
$24.9M
$45.6M
separate funds: • General fund • Debt service fund
Expenses FY 2024-25
Revenues FY 2024-25
The general fund is used to account for daily operations within the district, such as paying salaries and utility costs. The debt service fund is used to repay outstanding bonds issued by the school district.
$131.2M
$131.2M
SOURCE: CARROLL ISD/COMMUNITY IMPACT
Breaking down the general fund
One more thing
CISD’s general fund revenue increased about 10.8% compared to the previous fiscal year. While the general fund is projected to break even, the district’s budget overall is projected to end the year with a $20.6 million surplus.
Both the general fund and debt service fund budget will most likely be adjusted after the district’s tax rates are adopted in August, Johnson said. Local revenue contributes the bulk of CISD’s overall revenue compared to the state and federal funds the district receives.
CISD’s proposed tax rate for the next fiscal year is $0.9969 per $100 valuation. The tax rate is composed of two separate rates that make up the total tax rate. The CISD board of trustees is expected to adopt the tax rates in August after the district receives certified property values from the Tarrant Appraisal District.
General fund revenue sources
Expenses and revenues
Local revenue Other-property sale State revenue
Federal revenue
Revenue
Expenditures
Proposed tax rate
Other revenue sources
$159.5M
$159.5M
$156.2M
$176.8M
FY 2023-24 current tax rate FY 2024-25 proposed tax rate
$13.02M
$8.5M
$1.8M
$1.0025
$131.2M in general fund revenue
$0.7M
FY 2023-24
FY 2024-25
$0.9969
$118.01M in general fund revenue for FY 2023-24
$0
$0.4
$0.8
$1.2
SOURCE: CARROLL ISD/COMMUNITY IMPACT
$107.1M
SOURCE: CARROLL ISD/COMMUNITY IMPACT
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