CCISD trustees approve budget, lower tax rate
The Copperas Cove Independent School District Board of Trustees approved the budget and tax rate for the 2019-2020 school year during a special meeting held Thursday evening.
The board unanimously approved a tax rate that is $0.07 less than last year’s rate. The rate for 2019-2020 is $1.14965 per $100 valuation, with the General Operating Funds rate at $1.06835 and the Debt Service rate at $0.0813. The I&S rate increased by three cents, but the M&O rate decreased by just over 10 cents. The combined general operating fund and debt service tax rates were $1.22 per $100 valuation last year.
The board approved three budgets: the General Operating Funds (also called Maintenance and Operations), Debt Service (also called Interest and Sinking) and Child Nutrition Services.
Burns said that the Maintenance and Operations is in the black again and has not been in the red since he’s been with the district.
The M&O budget for 2019-2020 is $75.02 million, which includes $39.77 million for instructional costs, including teacher and staff salaries. The budget includes the previously approved teacher pay raises that were mandated by the state legislature. The I&O budget is $1.81 million. The Child Nutrition budget is $3.79 million.
The board also adopted a resolution for the Commitment of Fund Balance for the 2019-2020 Fiscal Year, committing $25 million to “insure an adequate amount of funds available to pay for four months of general operating expenditures.”; $7.5 million for future purchases of land or construction and renovation of facilities; and $1,512,076 for the final payments for the Fairview/Miss Jewell Elementary renovation, HVAC replacement at Clements/Parsons Elementary, roof replacement at Crossroads High School and the outdoor eating areas at both Copperas Cove Junior High and S.C. Lee Junior High Schools.
The board approved a proposed final budget amendment to the 2018-2019 budget, which included an increase of $4.3 million in revenue and then an equivalent increase in expenditures.
June Crawford, Chief Financial Officer for the district, said that the increase in revenue was largely due to the $3.2 million in Impact Aid funding. CCISD was able to get its Impact Aid funds in earlier this year, and the amount received was more than had originally been anticipated, she said.
The added expenditures included $3.97 million in facilities acquisition and construction as well as other increases in health services (the addition of an LVN at Martin Walker Elementary), student transportation (extra expenses for bus repairs), general administration and security and monitoring services. The amendment also includes an additional $30,000 for Child Nutrition Services to pay outstanding unpaid lunch balances. The Child Nutrition Services cannot move from one year to the next and carry a debt, so the district typically moves funds over to that fund to zero them out.