Increased teacher compensation, lower tax rate highlight fiscal year 22-23 process.
Richardson ISD Trustees adopted RISD’s 2022-23 budget at their June 6 regular meeting. The fiscal year 2022-23 general fund budget of $391.4 million represents a 2.4% increase over the adopted 2021-22 budget, and includes central department cuts of $1.2 million. Increasing property values in the district will drive an expected decline in RISD’s operating tax rate to $0.9977 – a reduction of 4.1% from 2021-22. The formal operating tax rate will be set by the state of Texas and adopted by trustees in August. The debt service tax rate (used by school districts to finance bonds approved by voters) remains unchanged at $0.35.
“RISD’s single budget priority for 2022-23 is retaining and attracting quality teachers and staff in a fiscally sustainable way,” said Interim Superintendent Tabitha Branum. “Simply put, we value our employees in Richardson ISD. We want our total compensation package, incentives, training, support, and district culture to not only attract quality staff, but more importantly, reward them for staying home here in RISD.” Due to a national shortage, the market for qualified teachers and other positions in North Texas is extraordinarily competitive, and RISD’s budget reflects increased compensation and incentives for teachers and employees:
- Current RISD teachers returning for 2022-23 will receive a salary increase of up to 5% and a retention stipend of up to $2,000 based on years of service. Non-teaching employees will receive a 4% salary increase and $1,000 retention stipend.
- The starting salary for new teachers will be $57,000 (up from $55,000 this year), plus a stipend of $1,750. New non-teaching employees will receive a new hire stipend of $750.
- Employee child Pre-Kindergarten program (ages 3 & 4) for $150/month.
- Employee child daycare (age 6 weeks to 3 years) for $350/month (projected opening in January at two RISD locations).
- Employee family health clinic for non-emergency medical needs – flat $10/ copay per visit.
- Reduction or no increase in employee TRS healthcare premiums, based on plan level.
The budget utilizes federal ESSER pandemic relief funds for allowable one-time costs, such as the teacher stipends. Other one-time costs, such as startup funds needed to create employee daycare programs within existing RISD facilities, are being funded by RISD’s fund balance, but are not recurring budget items. Besides increased teacher and employee compensation, the other areas with budget increases are primarily driven by increased costs for utilities and fuel.
Like many school districts, RISD experienced a decline in enrollment due to the pandemic, and state funding in Texas is primarily tied to enrollment. Per the January RISD’s demographic report, RISD enrollment is expected to remain stable in future years.
