Cedar Park - Leander | July 2020

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

TOTAL: $507,502,492

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:

$17,840,578: supplies

$335,979,759: payroll

$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%

Federal 1%

State funding 26%

Other sources 2%

Tax rate An ISD’s tax rate is

M&0 I&S

Total = $1.5119

2017-18

$1.04

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.

$0.4719

= $1.51

2018-19

$1.04

$0.47

= $1.51

2019-20

$0.97

$0.4675

= $1.4162*

2020-21

$0.9487

$0.4675

SOURCE: LEANDER ISDCOMMUNITY IMPACT NEWSPAPER

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CEDAR PARK  LEANDER EDITION • JULY 2020

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