Garland ISD trustees received another glimpse at the upcoming budget ahead of a late June deadline to assemble the final product.

Interim Chief Financial Officer Brandy Mayo presented updated snapshots of the district’s projected revenue, expenses and tax rate during the Tuesday, May 23, GISD Board of Trustees meeting. Even though the update is near the final budget presentation in June, some legislative proposals at the state level could alter the tax rate or basic allotment from the Texas Education Agency.

According to Mayo, an update from the Dallas Central Appraisal District shows an 8% increase in property values, which could lead to additional revenue from property taxes. In the event the district brings in more from property taxes relative to its current budget, the state will make a corresponding reduction in the district’s basic allotment.

The proposed tax rate is $1.1976 currently but could be impacted depending on changes to the maintenance and operations budget, which covers non-debt costs for the district. The maintenance and operations rate is estimated to be $0.8136 while the interest and sinking rate, used to service debt including the 2023 bond, is projected to be $0.3840.

When the district goes to publish its tax rate, it is possible that it will be a higher rate than is ultimately adopted, said Mayo.

“We will be publishing at a higher rate than you have seen here today, and that is by guidance from our experts,” Mayo said. “The reason we do that is because if we adopt a rate that is higher than we published, we have to go out and publish again.”

She added that the final tax rate determinations will be made in the coming months after the appraisal district calculates rates. Legislative mandates could also impact future budget considerations and the tax rate, if appraisal caps or compression occur, both of which have been proposed in the current legislative session.

“This is based on current law,” Mayo said. “Some of the bills that we’re watching are still going through the process and changing every day, so we’re keeping watch on that. We will likely come back during the next fiscal year and amend the budget once we receive these final bills.”

Mayo budgeted one-time budget additions at around $22.97 million for the upcoming fiscal year. Both revenues and expenditures are also projected to increase.

Total revenues for the upcoming fiscal year are budgeted at nearly $513.6 million, which represents an over $4 million increase from the $509.3 million during the current fiscal year. The figure accounts for all local, state and federal revenue streams.

Expenditures in the upcoming fiscal year are budgeted at around $580.1 million, an increase from $562.6 million in the current budget. Payroll assumptions presented account for 100% staffing and 84% of all district expenditures.

For the full story, see the June 1 issue of The Sachse News.