The College Station school district and others around the state that have to give a portion of their property tax revenue to help poorly funded districts may not have to give as much.
That’s according to an update given by CSISD board president Jeff Harris at this month’s regular meeting.
Administrators told the board that the estimated “recapture payment”, or what the district has to give the state, is estimated at $14 million dollars for the 2018-19 school year.
For the 2017-18 school year, CSISD estimates a recapture payment of $5 million dollars.
Additional information from the College Station school district:
Deputy Superintendent and Chief Financial Officer Mike Martindale made a third presentation regarding the development of the 2018-19 budget.
The board reviewed staffing and budgeting priorities for 2018-19 and were presented with a draft revenue and expenditure numbers.
The current budget development process reflects an overall projected budget deficit of $4.7 million.
CSISD will continue to review staffing and budget requests as well as monitor and adjust revenue projections according to enrollment and tax values. The 2018-19 budget and tax rate will be adopted at the August board meeting.
Early projections also indicate the district will be able to lower the interest & sinking (I&S) tax rate from .3980 to .3800, or 1.8 cents per $100 of valuation.