Plano Independent School District trustees approved a budget for fiscal year 2018-’19 that does not stray from the current fiscal plan, except the district will have to send an additional $57 million to the state under its recapture plan of financing public education.
Under the recapture plan, also known as Robin Hood, property wealthy school districts share a portion of their property tax proceeds with property poor districts.
The 2018-’19 budget approved June 12 by the PISD school board shows that the district will remit $207.9 million in tax money to the state for redistribution, an increase of $57 million from fiscal year 2017-’18.
The new PISD budget calls for $700.7 million in general fund expenses and $699.4 million in revenues, leaving a deficit of $3 million. In addition, the district will spend $143.9 million on debt payments and $26.5 million for food and nutritional services, for a total budget of about $870 million.
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Joe Reavis • [email protected]