In a board meeting that lasted barely five minutes, Katy ISD school trustees officially called a public meeting for Aug. 18 to give area residents a close look at the district’s proposed $561 million budget.
The board’s action also called for the publication of a formal notice of the meeting.
The public meeting is a required step in the district’s annual budget adoption process.
Superintendent Alton Frailey said the budget as proposed will not affect the current tax rate.
“This represents no tax rate increase at all,” Frailey said.
Of the total $561 million budget, $448,004,779 will go toward general fund expenses, which includes salaries and most operational expenditures. Revenues for the general fund are projected to be $447,696,032 with a carry-over balance of $78,647,451.
Proposed expenditures for the debt service fund totaled $85,850,000, with revenues of $82,663,131 and a carry-over balance of $33,911,522. As the name suggests, the debt service fund pays for the district’s outstanding long-term debt.
The district’s special revenue fund, which includes food service and specially designated state technology revenue, will bring in $28,137,687 with expenditures of $28,086,326. The fund will have a carry-over balance of $4,285,941.
Under the proposed budget, at the end of the 2010-2011 budget year on Aug. 31, 2011, the general fund will have a remaining balance of $78,838,704, the debt service fund will have a fund balance of $30,924,653 and the special revenue fund will have $4,337,302 remaining.
The budget also includes a proposed 3 percent pay raise for teachers and other district employees.
The budget proposal was based on an estimated enrollment of 60,857 students, a 4.18 percent increase over last year. The numbers were also projected on a tax base valued at $20 billion, a 2.17 percent increase.
The public meeting on the proposed budget and tax rate will take place at 6:30 p.m. Aug. 18 in the district’s Education Support Complex.
