As preliminary discussions for budgets occur in cities and school districts, financial officers are preparing governing bodies for the potential impacts of increased appraisal values on tax rates and the budget.

Garland ISD Chief Financial Officer Brent Ringo presented the impacts of expiring Elementary and Secondary School Emergency Relief (ESSER) funds following the 2022-2023 school year during the regular school board meeting Tuesday, May 24.

The presentation also helped the district comply with state standards for financial transparency of school boards.

“This is a requirement with our FIRST [School Financial Integrity Rating System of Texas] rating,” Ringo said. “We must show it on our agenda and in our minutes.”

The chief financial officer said this is the final year the district will be able to draw on ESSER funds, which have allowed the district to add to its general fund balance. Ringo added that the Texas Education Agency has told districts to prepare to draw on the general fund balances they have in 2023 and beyond.

Preliminary releases of appraised property values have been released and they show increases in the property values for communities served by Garland ISD. Ringo said that when property values rise, usually accompanied by more revenue from property tax, the state decreases the district’s funding.

Garland ISD will receive its certified appraisal values in August, said Ringo, which will establish the maintenance and operations (M&O) tax rate property owners pay to the district.

Preliminary property values released by the Dallas Central Appraisal District valued GISD property at $30.3 billion.

Additionally, the board considered a retention stipend for all staff and an adjustment to board policies on the inclusion of dual credit course grades being accounted for in class rankings and increasing the number of local leave days.

For the full story, see the June 2 issue of The Sachse News.