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Southwest ISD trustees adopt 2024–25 budget, set $1.1598 tax rate and approve bond defeasance
Summary
Trustees approved the 2024–25 district budget, set a total tax rate of $1.1598 (M&O $0.7217; I&S $0.4381), authorized defeasance of portions of outstanding bonds to reduce interest costs and passed a final 2023–24 budget amendment at their meeting.
The Southwest Independent School District Board of Trustees approved the 2024–25 district budget, set a total tax rate of $1.1598 and authorized the defeasance of a portion of outstanding bonds to reduce interest costs.
Scott, a district staff presenter, told trustees the district proposes estimated general fund revenue of $162,000,000 against personnel costs of $143,000,000 and non-personnel costs of roughly $32,000,000, producing total expenditures of about $175,000,000 and ‘‘a deficit of almost $13,000,000.’’ The district reported payroll accounts for roughly 83% of total spending.
Staff said state revenue is expected to rise modestly under recent law changes while federal…
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