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La Porte ISD financial update: projected FY25 deficit narrows to $7 million as property values rise and recapture increases
Summary
Stacy, the district finance presenter, told trustees May 13 that estimated FY2025 revenue rose about $11 million, narrowing an earlier $14 million projected deficit to an estimated $7 million shortfall driven largely by higher property valuations and an associated increase in state recapture.
Stacy, the district finance presenter, told the La Porte ISD board on May 13 that estimated revenue for fiscal year 2025 rose to about $117 million, an increase of roughly $11 million from the amended budget projection. That higher revenue lowered the district’s forecasted operating gap: instead of a $14 million deficit shown in earlier estimates, the district now projects an approximate $7 million shortfall for FY2025.
The change reflects a $1 billion increase in the district’s taxable property valuation (the presenter noted an estimated T2 value of about $14.7 billion for the fiscal year), which generated more local tax revenue but also raised the district’s state…
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