If the district wants to be able to offer pay raises, it will need to reduce spending by more than $30 million. One option Austin ISD is looking at is holding a tax rate election in November to generate additional revenue.
Austin ISD officials have said they need to make at least $30 million in budget cuts for the upcoming school year, and they are trying to limit the impact on campuses.
If the deficit gets too large, it will start to eat into Austin ISD's savings account, also called its fund balance. Ramos said the district has a policy that requires the fund balance, which currently sits at more than“The best practice is to at least have three months' worth of your operational expenditures in fund balance — in your savings account — so that helps us meet our cash flow requirements,” he said.
In addition to identifying more budget cuts to free up money for raises, Ramos said the school board has asked the district to explore the impact of holding a Voter-Approval Tax Rate Election that could generate about $44 to $46 million per year if voters agreed to increase the tax rate by about 9 cents.
Education Austin is negotiating raises with Austin ISD and hopes to reach an agreement within the next 30 days. Zarifis said the district needs to offer even a slight raise, and that no increase amounts to a pay cut because of inflation. However, there are other ways the district can show employees they are valued, he said.
TASBO heard back from 313 districts that educate about half of the state’s 5.5 million public school students. More than 50% of the districts that participated in the survey said they plan to cut spending and dip into their fund balances for next year’s budgets. Only 10% of respondents said they did not have to take either of these steps.
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