$46.7 million budget approved
Fredericksburg Independent School District’s board of trustees held a public hearing on Thursday, June 28, to adopt the annual budget for the 2018-2019 school year.
The adopted budget totaled $46,728,907 and included a one-percent salary increase for teachers.
This year’s budget amount saw nearly a four percent increase from last year’s budget of $44,989,774.
The increase is in large part due to property tax revenues increasing and the state school funding formulas that dictates the district pay Chapter 41 payments. The recapture payments will increase by 18 percent more than last year’s payments of $10.4 million to $12 million.
The district’s current tax rate of $1.0400 continues to remain the same and has not changed since 2007-2008. If the board considered a tax rate increase, an election would have been required.
The tax rate is set to be adopted in August or September. The Texas Education Agency (TEA) commissioner will need to certify the school district’s values and equalized wealth level, as per the district’s Chapter 41 status.
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