Brownwood ISD’s board of trustees met in a special meeting Monday and unanimously approved the 2013/2014 school year budget and tax rate.
The newly approved balanced budget includes $25,883,179 for the general fund, $1,722,632 for food service and $3,110,496 for debt service.
The approved 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.
The budget includes pay raises for district employees as well as increases to make some purchases and improvements needed in the school district.
Preliminary numbers indicate that BISD will end the past school year with a fund balance of over $4.7 million which is better than previously estimated and within state guidelines.
