Education
BY CHLOE YOUNG
Liberty Hill ISD projected to adopt largest ever budget shortfall
The big picture
Diving in deeper
Tax rate breakdown
General operating budget expenditures
Expenditures: $102.84M Proposed 2024-25 general operating budget
Projected tax rate
Median home value
Average school property tax bill
Salaries and benefits: 85.7% Departments: 10.87% Campuses: 3.41%
Shortfall: $8.57M
$1.1669
$462,264
$3,082
Revenues: $94.27M
District officials have discussed calling a voter-approval tax rate election, or VATRE, in November, which would allow them to adopt a higher maintenance and operations portion of the tax rate. The district is considering the following overall tax rate increases, which would result in additional revenue for the district and higher tax bills for residents.
$954,998 through 14 positions and reducing stipends $209,655 to department budgets Cost saving measures In an effort to reduce its projected shortfall, the district has proposed $1.5 million in budget cuts, including:
Includes $2.5M increase to the compensation plan: • $1.37M in increased contributions to employee benefits • $782,500 in one-time stipends to all staff • $256,965 in salary step increases • $111,750 in special education stipend increases
General operating budget revenues
$190,345 to campus budgets $125,000 to staff overtime
Tax rates requiring voter approval
Additional revenue for district $4,575,742 $6,228,481 $9,511,486
Additional annual cost to homeowners
Property tax collections: 57.5 % State revenue: 29.3 % Teacher Retirement System: 6.6 % Other local revenue: 6.1 % Federal revenue: 0.6%
Additionally, LHISD is exploring ways to decrease fuel, utilities, energy and property insurance costs, which have increased due to inflation. The district has also increased class sizes, Chief Financial Officer Rosanna Guerrero said.
$1.1969 $1.2269 $1.2869
$138.68 $277.36 $554.72
SOURCE: LIBERTY HILL ISD/COMMUNITY IMPACT
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LEANDER - LIBERTY HILL EDITION
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