By Joe Reavis
In spite of a few lingering school finance issues to be addressed in a special session of the Texas Legislature next month, Wylie Independent School District trustees last week approved the fiscal year 2017-’18 budget.
The approval comes shortly before the start of the WISD fiscal year on July 1. Approval of the property tax rate to fund operations will come after Collin Central Appraisal District certifies property values July 25.
Assistant Superintendent Michele Trongaard presented budget figures to the board Monday, June 19, and pointed out that the property tax revenue estimate is based on a 7.5 percent increase in values. Collin CAD estimated the increase in taxable property values at 10.42 percent this year and the exact number will not be known until property value protests are concluded this week and new calculations are made.
In 2016, the school district based its budget calculations on a taxable property rise of nine percent and the certified increase as determined by the Collin CAD was 14.5 percent. The difference between the two percentages created some additional revenue for WISD.
Maintenance and operations portion of the budget, day-to-day expenses of operating schools, is $125.6 million in the new budget, up from $122 million for FY 2016-‘17. Funding sources are $59.8 million from property taxes, $57.9 million in state aid, $5.4 million from TRS On-Behalf, $1.6 million from miscellaneous sources and $925,955 in federal aid.
For the full story see the June 29 issue and the e-Edition at https://www.etypeservices.com/Murphy%20MonitorID247/default.aspx