Springtown ISD board of trustees decreased the tax rate by about 11 cents during their meeting Monday evening at Springtown ISD Administration Office Boardroom.
The 2019-20 tax rate is $1.24835 per $100 valuation, a decrease of 11.065 cents from last year, Superintendent Mike Kelley said. The rate includes the maintenance and operations rate of $1.06835 and the interest and sinking rate of $0.180.
SISD’s new tax rate is below the voter-approval tax rate and the rollback tax rate but above the effective rate, Kelley said.
“In response to the additional state funding available through House Bill 3, we were able to adopt a rate 11.065 cents less than last year’s rate, bringing us down to $1.24835, but above the effective rate,” Kelley said.
The district is estimated to receive about $1.2 million more from taxpayers because of local growth, Kelley said.
Trustees also adopted the about $43.02 million total budget during the meeting, Kelley said. The total budget includes food service, interest and sinking fund, special programs and the general fund, the latter of which is the largest. The general fund is balanced at about $35.9 million, an increase of about $3.58 million.
More than $2 million of the budget increase is because of payroll increases, of which some are mandated and funded by HB 3, Kelley said.
During their meeting in June, trustees raised pay for first-year teachers to $50,000 and decided on a $4,000 raise on salaries for teachers, nurses, librarians and counselors with six years or more experience. Pay for auxiliary employees will also increase in the hourly rate of more than 7.75 percent on average.
SISD Chief Financial Officer Greg Shaw said 12 positions were added to staff in the budget, and those positions include nine teachers, two assistant principals and an instructional aide. The payroll net increase of the added positions is about $700,000 because “several veteran staff members left and folks that we hired to replace them were less experienced, thus their salaries are less.”
The next regular SISD school board meeting is on Sept. 23.