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Corsicana ISD reports preliminary fiscal outlook: teacher raises funded but projected shortfall remains
Summary
District finance staff told the board on June 16 that new state teacher raises established by HB2 are largely funded but that the district faces a preliminary deficit of roughly $3.3–$3.5 million for the coming year once raises and other costs are included.
District finance staff gave a quarterly fiscal update to the Corsicana ISD Board of Trustees on June 16, reporting that through May the district had spent about 70% of its fiscal year budget and that investment earnings were higher than budgeted.
The staff briefed the board on how recently passed state legislation (referred to in the presentation as House Bill 2) affects local revenue and mandatory raises. Staff said the law provides teacher pay increases: $2,500 for teachers with three to four years’ experience and $5,000 for those with five or…
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