Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the School Budget topic
No spam. Unsubscribe anytime.
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 more years. The district also expects a $45 per adjusted‑ADA allotment for support staff that the presentation estimated would total about $240,000 in additional revenue.
Finance staff provided a preliminary revenue projection showing the district could receive roughly $2.1 million to $2.3 million in additional state revenue tied to HB2’s changes to the Foundation School Program. But staff said that about $1.4 million of that projected increase is already earmarked for the required teacher raises, leaving about $600,000–$900,000 for other needs and support‑staff raises. After accounting for projected expenses and raises, staff estimated a preliminary budget deficit between about $3.3 million and $3.49 million under current assumptions.
The presenter described the projections as preliminary and said projections could change as TEA issues additional guidance and as revenue scenarios are updated. The staff also flagged that districts across Texas are seeing reductions in SHARS (Medicaid reimbursement) and that local expenses such as utilities and salary steps are rising. The presentation noted the district contributes $399 per employee toward health insurance and said the district’s insurance premiums had just increased by $63 per staff member.
Finance staff emphasized there is time to revisit budget lines and that revenue scenarios will be updated; they also said some expense assumptions came from external templates and consulting scenarios, which produced similar but not identical estimates.
No formal budget adoption or amendment was voted on during the June 16 meeting; the presentation was informational and intended to guide upcoming budget work.
