Brownwood ISD is set to approve a balanced budget on Monday in a special board meeting that will kick off the new school year. Deputy Superintendent Kevin Gabaree said that the school board is very pleased with the new budget that they are set to approve.
“We are very pleased with being able to bring a balanced budget with a slight increase to pay debt services, a salary increase for employees and to be able to take care of the educational needs of our students,” said Gabaree on Friday afternoon.
The new balanced budget that is poised to be approved includes $25,883,179 for the general fund, $1,722,632 for food service and $3,110,496 for debt service.
The proposed tax rate for next year will be $1.04 per $100 property valuation for maintenance and operations and $0.2647/$100 for interest and sinking. While the maintenance and operations rate will be unchanged from last year, the interest and sinking rate will be an increase of only $0.0031. That increase will cover their debt payment for the year that is projected to be slightly higher than last year.
Deputy Superintendent Kevin Gabaree said that after the 2013/2014 school year, bonds issued in 1998 will be paid off and only the 2005 bond payments will remain. This could shave off up to $0.05 from the interest and sinking rate for subsequent years.
Last year’s budget presented challenges to the district after implementing pay raises and approving a deficit budget, but things will change this year thanks to some additional state funding.
“The state came through for us this year and we are very thankful for that,” said Gabaree.
In addition to pay raises, Gabaree said last month that the budget he will present to the board will include the purchase of a new bus, a new ag vehicle, band supply upgrades, new teacher laptops and new campus security equipment.
The BISD board of trustees discussed the budget in detail in a workshop on August 19th and are expected to approve the budget for 2013/2014 on August 26th.
