The Pilot Point school district plans to start a new fiscal year on July 1 with a balanced operating budget.
School board members adopted the 2013-14 budget at their June 12 meeting.
“I think the board and the staff worked together to come up with a comprehensive budget that meets the district needs and works with our estimated revenue,” said Melinda Street, board president.
District officials say they anticipate no change in the district’s $1.37 per $100 valuation tax rate, which is slated to be set at the Aug. 14 board meeting.
According to documents posted on the district website, officials expect both revenues and general fund expenses to total more than $12.8 million for the 2013-14 school year. Officials plan to spend about $697,000 more in the new fiscal year than was spent during the 2012-13 year, according to district documents.
The increase is primarily a result of increased payroll costs, district officials wrote in an e-mail this week. New payroll costs for seven new employees total $354,240, officials stated.
Also included in the budget is a one-time payment of $1,020 to be paid to all full-time employees eligible for Teacher Retirement System of Texas benefits. The payment will go out to employees in October to offset increased health care costs, according to district officials.
The estimated costs of the payments to the district total approximately $215,000.
This is the seventh consecutive year the district has had a balanced budget, according to district officials.
Documents indicate that nearly 60 percent of the district’s operating budget is designated for instruction costs.
According to district officials, $6,000 was added to the budget for middle school University Interscholastic League academic programs, and $21,700 was added for replacement technology expenses. The district also absorbed Title I programs because of federal sequestration cuts of $65,000, officials said.
District officials say $50,000 in revenue for impact aide funding is being eliminated as a result of a federal law change, and the district is expected to receive $474,000 in additional state revenue during the 2013-14 year.
The district is projecting surpluses in the child nutrition and debt service funds next fiscal year, according to district documents. Debt service revenue is projected to total more than $1 million and expenses are projected to total $992,589. Child nutrition revenues are projected to total $779,676 and expenses are projected to total $774,876, according to district documents.
BRITNEY TABOR can be reached at 940-566-6876 and via Twitter at @BritneyTabor.