The Board of Trustees completed the 2018–19 budget, received an update on the district’s award-winning financial management and reviewed ongoing construction at its Aug. 23 meeting.
Board sets final tax rate after hearing, completes the 2018–19 budget
Trustees approved the general operating budget for 2018–19, which represents a 5.13 percent increase over the fiscal year 2017–18. Major factors for the increase include the need for additional personnel due to the projected enrollment growth of 987 students, the 2 percent pay increase for personnel, and the increase in the employer contribution to healthcare.
The Board was able to adopt a lower Interest and Sinking (I&S or debt service) tax rate of $0.47 per $100 valuation, while providing funding for the early retirement of debt. Further, the Board continued the tax rate of $1.04 per $100 valuation for Maintenance and Operations (M&O), equaling a total rate of $1.51.
LISD earns a perfect score in finance
Leander ISD earned a perfect score for financial management. School FIRST, which stands for Financial Integrity Rating System of Texas, is the state’s financial accountability rating system. For the 2017–18 rating year (2016–17 data), LISD achieved the highest rating of “A–Superior Achievement”, scoring a maximum of 100 points on a 100-point scale.
Construction continues on LISD’s major maintenance, Bond 2017 projects
Changes are coming to Cedar Park High School with construction on its stadiums, locker rooms and flex lab classrooms starts in September. The four phase construction project, which includes items for the 2017 bond and the major maintenance fund, will also include robotics and career technical education classrooms, the field house and the front of the school. CPHS construction will be completed summer 2022.