EDUCATION Leander ISDtrustees narrowlyapprove 202021 budget
Breaking down a $507,502,492 budget
Notable numbers 2% 5.44% $15 million one-time payment to all employees, if enrollment is met dollars to fund new positions
: $112,818,330 22% : $14,839,083 3%
year-over-year increase in the general fund budget
BY BRIAN PERDUE
With no one knowing what education will look like in August, Leander ISD’s board of trustees on June 18 needed two votes to narrowly approve a $379.85 million general fund budget for the 2020-21 iscal year. After the irst vote failed 4-3, trustee Jim Mackay changed his vote to approve the budget with trustees Trish Bode, Gloria Gonzales-Dholakia and Pam Waggoner. Citing a $21 million budget deicit, Grace Barber-Jordan, Elexis Grimes and Aaron Jordan voted against both motions. The budget reflects a 5.44% increase in expenditures over the inal $360,232,357 general fund budget for FY 2019-20. Trustees also approved a $14,839,083 budget for Child Nutrition Services and $112,818,330 budget for debt service. According to LISD Chief Financial Oficer Elaine Cogburn, the increase in the budget was due to several factors that included the implementation of full-day pre-K instruction in August, $15 million in new positions, a $1 million increase to the health insurance fund and a one-time 2% payment—in lieu of permanent raises—to all LISD employees. The $21,000,327 budget deicit will be covered by the district’s general fund. After adding the surplus from the FY 2019-20 budget and addressing the FY 2020-21 budget deicit, Cogburn estimated the general fund will contain $147,348,113. In late August or September, trustees will revisit plans for a proposed lower tax rate after the Texas Education Agency updates taxation rules, according to Cogburn. The proposed tax rate of $1.4162 reflects a drop from the FY 2019-20 rate of $1.4375. The maintenance and operations rate accounts for all of the drop, from $0.97 to the proposed $0.9487. The proposed sinking debt rate will remain the same at $0.4675. Fiscal year 2020-21 began July 1.
$21,000,327 overall budget decit that will be covered by the district’s fund balance
: $379,845,079 75%
How themoney is spent The nearly $380 million general fund budget, which pays for day-to-day operations, is divided up as follows:
$12,821,994: contracted services
$8,606,871: utilities $4,439,430: travel $156,447: other
Who pays for it? Nearly three-quarters of Leander ISD’s revenue comes from local sources, most notably local tax revenue.
What homeowners will pay in taxes If the proposed 2020-21 tax rates do not change, a homeowner in LISD with a residence valued at $300,000 would pay $4,248.60 in property taxes to the school district during the current scal year.
Local tax collection 71%
State funding 26%
Other sources 2%
Tax rate An ISD’s tax rate is
Total = $1.5119
divided into two parts. M&O, or maintenance and operations, funds the day-to-day operations. I&S, or interest and sinking debt, pays the principal and interest on district debt. *The 2020-21 rate will be nalized by September once the Texas Education Agency releases regulations.
SOURCE: LEANDER ISDCOMMUNITY IMPACT NEWSPAPER
• Keep your child protected with vaccines • Weekday & Saturday well-check exams available • Strict precautionary measures in all clinics • Get a full picture of your child’s health • Discuss learning and behavioral questions CHECK IN FOR A CHECKUP
CEDAR PARK LEANDER EDITION • JULY 2020
Powered by FlippingBook