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The school boards in Austin ISD and Manor ISD each called tax rate elections for Nov. 5 to help cover the cost of raising staff salaries. Both districts are facing multimillion-dollar budget deficits.
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District officials said if a voter approval tax rate election is successful in November, it will generate $41 million in additional revenue for the district. Nearly $18 million of that would be used to increase at least 60% of employees’ pay.
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The size of Austin ISD’s budget deficit and salary increases for staff largely depend on whether the board calls a Voter Approval Tax Rate Election to generate millions in revenue. Without the funds generated by a new tax rate, the district will be $78 million in the hole.
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Austin ISD is staring down a nearly $60 million budget deficit. District officials and school finance experts say adjusting per student spending for inflation would alleviate some of the financial strain public schools are facing.
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Pretty much everything costs more than it did in 2019. But in Texas, public schools are still getting the same amount of funding they got four years ago.
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Trustees approved a 2023-2024 budget that spends just over $52 million of the district’s savings to help cover the cost of an aggressive compensation package they unanimously approved last month.
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The PfISD school board is considering closing several elementary schools to save money as the district faces a multimillion-dollar budget deficit. Trustees are expected to make a decision next month.
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The district is working on its budget for the 2023-2024 school year. AISD administrators and school board members say employee compensation is the top priority.
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Rising property values means the district must pay into the recapture system, which was intended to equalize school funding in the state.
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The 2022-2023 budget includes a massive payment to the state’s recapture system and pay increases for teachers as well as other school staff. It also eliminates nearly 600 positions, primarily in the district’s central office.