Springtown ISD board of trustees attended a budget workshop on Tuesday evening.
Administrators and trustees discussed revenue projections according to a few templates, such as ones from Texas Education Agency, The Equity Center and BOK Financial Securities, SISD Chief Financial Officer Gary Shaw said.
So far, the templates are projecting that in the 2019-20 budget, SISD would receive about $19 million from the state, which is about $2.5 million more than 2018-19’s budget thus far, Shaw said. However, these templates are incomplete for now because of the recently passed legislation House Bill 3.
HB 3 was passed by the state legislature and signed by Gov. Greg Abbott during the latest legislative session. The new law aims to put more money into school districts and lower property taxes. HB 3 requires 30 percent of new state funds to be allocated to salary increases for all staff except administrators, and 75 percent of that portion is to be used for teachers, nurses, librarians and counselors.
The total general fund budget could be about $31 million, Shaw said, but the expenditure budget is still in development.
Superintendent Mike Kelley said the discussion was a mainly preliminary one as the district wraps up the 2018-19 budget and looks ahead to 2019-20.
When asked specific questions about the upcoming budget, Kelley said the district won’t know specifics until later. Right now, the district hasn’t received certified property values yet, which help administrators predict how much local tax revenue they’ll receive.
“I think we can safely say that HB 3 will provide additional funding,” Kelley said.
During the previous board meeting last month, trustees approved raising pay for teachers, nurses and librarians on top of the salary increases from the state. Auxiliary staff will also see a pay increase.
Trustees plan to adopt the 2019-20 budget at the board meeting on Aug. 26, Shaw said.