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WFISD Leaders Approve Budget and Tax Rate

WFISD will be operating with a surplus of cash and employees will be getting raises as well.
Wichita Falls ISD approves the 2013-2014 budget

Cindy Tatum, Chief Financial Officer, presented the 2013-14 proposed budget and tax rate to the community and Board of Trustees at a public hearing. The district’s annual official budget for fiscal year 2013-2014 is $118,767,682, which represents an increase of $3,463,495 or 3%.  Projected revenues are $120,416,074 resulting in a combined estimated surplus of $1,648,392.


Tatum highlighted several increases in staff benefits and initiatives in this year’s budget. Through more efficient staffing ratios and increased state aid, the district proposes a 3.5% raise for teachers, 3.5% mid-point raise for employees on the unified pay scale and a 10% increase for certain stipends.  Also proposed is a $51.75 per month increase in the district’s health insurance contribution. The district is also proposing approximately $500,000 in improvements to facilities for safety and security. The district plans to continue with the refinement and implementation of the staffing study into the 2013-2014 school year.


The budget is developed on a tax rate that includes a half-cent decrease. The proposed tax rate is a combined rate of $1.205 per $100 valuation for both M&O and I&S taxes.  This includes a one-half cent decrease in the I&S tax rate. The district will use an estimated 98% collection rate, consistent with the previous year.  The $1.04 M&O rate being set includes a maximum $0.04 per $100 valuation allowed without a Tax Rate Election.


With no citizen input at the hearing, the board concluded the public hearing.


The Board adopted the 2013-14 debt service budget as supported by a rate of $0.165, assuming a collection rate of 98%.


The Board adopted the 2013-14 maintenance and operations tax rate of $1.04, the same since 2008.


The combined tax rate is $1.205 per $100 valuation.

The Board adopted the 2013-14 debt service budget as supported by a rate of $0.165, assuming a collection rate of 98%.

The Board adopted the 2013-14 maintenance and operations tax rate of $1.04, the same since 2008.

The combined tax rate is $1.205 per $100 valuation.

Next Board of Trustees monthly meeting is Monday, September 16 at 6pm in the Ed Center board room.
 



 



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