FISD 'tax swap' is creativity we support

As districts scramble, state should reassess commitment to public education

Fredericksburg Independent School District’s potential “tax swap,” outlined in last week’s paper, described a new practice in school districts around the state. Realizing folks like Lt. Gov. Dan Patrick and his tea party supporters don’t have their backs, trustees around Texas are trading in some debt capacity to make up for shortfalls in operational revenue.

FISD is exploring a “swap” of up to three cents of its debt-issuing limit and use that unused revenue toward operations. Year after year of no raises for teachers and pinching pennies on operations is forcing trustees to get creative.

Voters will be asked to OK the measure, which will not include any additional taxes or an increase in the tax rate — just a reassignment of a few of the pennies on our tax rate we designate toward debt rather than operations.

That will also result in FISD being able to issue less debt, lessening its borrowing capacity from $18 million down to about $11 million. We will see how that affects the district as this area continues to grow.

 

For more on this story, read this week’s print and online editions of the Fredericksburg Standard-Radio Post. If you are a print subscriber, your full online subscription is free. All you need to do is call 830-997-2155 to get a password. If you are not a subscriber, call 997-2155 or click on the ‘Subscribe’ button on the left side of the home page and sign up today!

Fredericksburg Standard

P.O. Box 1639
Fredericksburg, TX 78624-4228
830-997-2155