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Board hears budget outlook and sets Aug. 27 public hearing to adopt tax rate
Summary
Finance staff projected roughly $162.7 million in general-fund revenue and about $175.6 million in expenses for 2024–25, producing an estimated $13 million deficit; trustees scheduled a public hearing on Aug. 27 and set a 6 p.m. finalization meeting the same day.
Southwest ISD finance staff on Tuesday presented a budget and tax-rate update and asked trustees to schedule a special meeting to consider the budget and adopt a tax rate.
Finance presenter Scott said the district is projecting nearly $162.67 million in general-fund revenue and roughly $175.59 million in expenses for the coming year, leaving an estimated budget gap of about $13 million heading into the 2024–25 school year. Scott told the board the district currently projects a fund-balance near $64 million before accounting for the stated deficit and audit adjustments.
“...we are projecting almost a $163,000,000 in revenue for our general fund this upcoming year,” Scott told trustees during the presentation.
District staff recommended a tax-rate proposal near $1.15 and asked trustees to call a special meeting for Aug. 27 to set the tax rate and adopt the budget. Trustees approved a public hearing for Aug. 27 at 5:30 p.m. and set a 6:00 p.m. meeting the same night to finalize the budget and tax rate.
Why it matters: The projected shortfall will require the district to use fund balance or identify expense reductions or revenue changes; staff noted fund-balance levels remain within the district’s 3–4 month target range after projected adjustments.
Next steps: Staff will present the proposed budget and tax-rate advertisement at the Aug. 27 hearing and seek final board action during the special meeting that evening.
