Waco ISD projects multimillion-dollar shortfall; legislative changes complicate next budget

Waco Independent School District finance staff told the Board of Trustees on May 20 that the district is projecting a multimillion-dollar shortfall and that legislative proposals in Austin make next year's budget uncertain.

At the meeting Cheryl Davis, Waco ISD's chief financial officer, presented a preliminary projection that the district faces roughly a $7.5 million deficit in the current fiscal year and showed a revised budget gap that reflects prior-year adjustments and purchases. Davis told trustees the district's adopted budget began with an $8 million deficit but subsequent timing of purchases and other items had pushed the revised budgeted deficit higher; she said current-year spending is tracking below the revised plan.

Key numbers and drivers

Davis reported the following items to trustees:

- Preliminary local taxable values reported to the district for the coming year were about $10.2 billion; Davis said certified values will follow and that the district is still refining estimates because state and appraisal-district adjustments remain possible.

- The district has about $1.0 million in additional foundation…