{"id":18276,"date":"2023-06-12T16:43:36","date_gmt":"2023-06-12T21:43:36","guid":{"rendered":"https:\/\/web.risd.org\/home\/?p=18276"},"modified":"2023-07-19T11:57:10","modified_gmt":"2023-07-19T16:57:10","slug":"trustees-approve-budget-based-on-reduced-tax-rate-community-budget-steering-committee-forming","status":"publish","type":"post","link":"https:\/\/web.risd.org\/home\/trustees-approve-budget-based-on-reduced-tax-rate-community-budget-steering-committee-forming\/","title":{"rendered":"Trustees Approve Budget Based on Reduced Tax Rate \u2013 Community Budget Steering Committee Forming","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"\n

Concluding a process that began in January, RISD Trustees approved the district\u2019s 2023-24 budget at the June 8 regular meeting. The approved operating budget is based on an anticipated state-set operating tax rate of $0.9335, a reduction from the current year rate and at the lowest level since 1993. The Texas legislature is widely expected to adopt some form of property tax relief this summer, which would reduce the operating tax rate further. The adopted operating budget includes a $14.8 million deficit that will be funded through one-time use of the district\u2019s fund balance, and also includes $14.4 million in reductions and efficiencies, realized through not budgeting at full employment, central cuts, and reducing allocations to reflect decreased student enrollment. The budget includes an aggressive teacher raise and staff compensation package to remain competitive in the North Texas market<\/a>.  Trustees also formally commissioned the creation of a community budget steering committee <\/a>to assist the district with prioritizing limited resources and  decisions for 2024-25 budget planning.<\/p>\n\n\n\n

\u201cThis budget achieves our highest priority heading into the budget planning process \u2013 retaining and rewarding our teachers and staff,\u201d said RISD Superintendent Tabitha Branum. \u201cWe have made strides to reduce spending in ways that don\u2019t impact the quality of our classroom instruction, and will continue with those efforts. With that said, we are facing some fundamental decisions in the coming year about RISD\u2019s operational model, given reduced enrollment in our district and across Texas, and our high number of open classroom seats. With the help of our community budget steering committee, we will work to identify additional ways to operate more efficiently and also increase district revenue. Our commitment to maintaining safe campuses, student academic growth, and attracting and retaining outstanding educators will not change.\u201d<\/p>\n\n\n\n

Click here to learn more about previous budget planning discussions, including the factors impacting district revenue and expenditures<\/a>.<\/p>\n\n\n\n

Other highlights of the adopted budget include:<\/p>\n\n\n\n