The College Station school board had its first update on developing next year’s budget since the end of the state legislature’s regular session.
Click HERE to read and download the budget presentation given at Tuesday’s CSISD board meeting.
Superintendent Clark Ealy complemented the Texas House for its efforts…which have been blocked so far by the state senate.
Dr. Ealy says multiple versions of the budget have been developed because of the uncertainty of what will happen during next month’s legislative special session.
As it stands now, CSISD will tap into its $32 million dollar reserve to make up a shortfall of nearly $3.6 million. Under the state’s current school finance law, College Station has to return more than $5.7 million to help fund less wealthy districts.
Board members learned Tuesday night that new insurance premiums show what administrators say are significant increased costs to employees.
CSISD’s budget and tax rate for the 2017-18 school year will be adopted at the August board meeting.
Click below for comments from Clark Ealy, visiting with WTAW’s Bill Oliver.
Additional information provided by CSISD:
The board reviewed staffing and budgeting priorities for 2017-18 and were presented with a draft of revenue and expenditure numbers. These initial numbers in March reflected an overall deficit budget of $5,413,101 and the numbers reported in May showed a proposed deficit budget of $3,616,722. The current projected numbers reported this evening showed a deficit of $3,581,897.
The projections include a current assumption of a 2.90% enrollment growth, a 9.30% increase in property values, a potential $2.1 million to be used toward employee raises and $2.366 million for opening Pecan Trail Intermediate and new positions throughout the district.
Current budget runs show a Chapter 41 recapture payment back to the state of more than $5.7 million, offsetting the potential increase in revenue from the increased property values.
Deputy Superintendent/Chief Financial Officer Mike Martindale also presented the new insurance premiums, which show significant increased costs to employees.
CSISD will continue to review staffing and budget requests, monitor and adjust revenue projections according to property values and update expenditure projections over the next two months. The 2017-18 budget and tax rate will be adopted at the August board meeting.
Any adopted budget deficit would be made up by utilizing funds from the district’s fund balance, which currently has a balance of more than $32 million.
