'The enrollment growth is really what keeps us going plus the attendance rate, so we got to keep the kids in the class,' Chief Financial Officer Jill Ludwig said.
Friday, August 9, 2024 8:38PMLamar CISD has offset its anticipated shortfall in the proposed fiscal year 2024-25 budget and instead is looking at having a $537,740 surplus, Chief Financial Officer Jill Ludwig said at an Aug. 5 special board meeting.This is a change from the June 25 board meeting, where Superintendent Roosevelt Nivens said the district was facing a potential $200,000 shortfall.
A majority of LCISD's general fund revenue, 55.75%, comes from the state, with local property taxes making up roughly 43.89% and federal funding making up the smallest slice, according to the agenda documents.
Additionally, the frequency in which students attend classes, known as the average daily attendance, or ADA, also contributes to the amount of state funding LCISD receives. LCISD staff project the district's ADA will be at 94.5% next year, Ludwig said. "The enrollment growth is really what keeps us going plus the attendance rate, so we got to keep the kids in the class," Ludwig said at the previous June 25 board meeting.Ludwig said trustees adopted raises in late May for teachers and other staff that included:Providing a flat raise of $2,000 for teachers and other staff paid on the teacher salary schedule, which includes nurses, librarians, and counselorsLCISD will propose a property tax rate of $1.
The lower tax rate is due to the state's mandated compression, Ludwig said, which was approved in the 88th Texas Legislature to ease the financial burden of property tax payments on residents.The board of trustees will consider approving the FY 2024-25 budget and proposed tax rate on Aug. 27, when a public hearing will also be held.
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