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Plainview ISD board adopts 2025–26 budget, sets tax rate 5¢ lower than last year
Summary
The Plainview ISD Board of Trustees approved the district's 2025'26 budget, adopted a reduced tax rate and approved a final amendment for 2024'25 at a special meeting; all motions passed unanimously.
The Plainview Independent School District Board of Trustees approved the district's 2025'26 budget and adopted a tax rate the board said is 5 cents lower than last year, and also approved a final amendment to the 2024'15 budget during a special meeting.
Board members voted to approve the 2025'26 budget after administrators reviewed enrollment changes, including roughly 100 fewer high school students this year compared with last year's senior class, and noted higher pre-kindergarten enrollment. The board also approved a final amendment for the 2024'25 budget to close the books for auditors.
Superintendent-level staff presented the tax recommendation as a split between maintenance and operations and the interest and sinking (I&S) fund. The board adopted a maintenance and operations rate of 0.771 per $100 valuation and an I&S rate of 0.504 per $100 valuation, for a combined rate of 1.275 per $100 valuation. Administrators told the board the lower overall rate reflects available revenue and a plan to set aside funds to retire a portion of the district's short-term bond (the presenter described a plan to pay down roughly $15 million within about eight to ten years).
Board members asked about the mechanics of the bond's interest-rate reset and how often the district can refinance the short put portion; staff said the district typically has an opportunity to reset roughly every three years and will use fund balance and other resources to minimize future interest exposure.
Votes at the meeting were unanimous. A board motion to approve the 2025'26 budget passed 6'0'00. The motion to adopt the 2025 and 2025'26 tax rate and I&S fund also passed 6'0'00. The final amendment for the 2024'25 budget passed 6'0'00. Board members said auditors will begin work once the final amendment closes out the fiscal year.
Administrators noted that the tax-rate recommendation was reviewed at the district's budget workshop on Aug. 14, and that staff will continue to report vendor expenditures and major contract activity in routine financial reports to the board.
Less-critical details: board members discussed that the maintenance and operations rate funds the district's day-to-day operations while the interest and sinking rate is dedicated to debt service; staff said the combined rate was set to allow aggressive paydown of the short put portion of a construction bond before an interest-rate reset. The board approved the items as a block during the meeting's business agenda.
