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Lake Travis ISD warns of revenue swing and early $7.5M projection shortfall; board approves budget amendments and capital items
Summary
LTISD finance staff told trustees preliminary property value swings could reduce revenue by roughly $3.5M and produce an early $7.5M projected deficit for 2025‑26; the board approved budget amendments, an RFP for AV replacement, and awarded/authorized several agreements and resolutions.
District finance and operations staff told the Lake Travis Independent School District board that a new property value projection from the Travis Central Appraisal District shifted earlier estimates and reduced projected district revenue, prompting early planning for spending reductions and budget workshops.
Chief financial staff said a projection change from an earlier +5.5% to an estimated −5.5% in property values would create roughly a $3.5 million reduction in revenue compared with the prior estimate and, if unchanged staffing and positions were retained, could yield an estimated $7.5 million fund‑balance deficit for fiscal 2025‑26. The staff presentation emphasized that values remain preliminary until certified in April and that protests and appeals through May and June can change final numbers.
At the same meeting trustees approved two budget amendments for the 2024‑25 general operating fund and debt service fund to reflect true‑ups in local tax collections and state aid; the amendments were presented as Amendment 2 to the current fiscal year and approved by voice vote. Administration also reported an earlier true‑up to recapture payments (~$21 million paid to date) and discussed timing of State recapture and bond defeasance planning.
On capital projects, facilities staff presented a competitive sealed bidding process for the Reimers Road bridal/drive project: the 2020 estimate (with escalation) had been about $9 million, while the lowest responsive bid was $11,000,800. The district also presented an RFP for AV replacement at Hudson Bend Middle School and a recommended award process for a general contractor on Reimers Road; construction agreement agenda items were pulled to allow review by a newly formed bond advisory committee and will return for board consideration.
Other board actions: trustees approved an agreement with Travis County for joint election services for the May 3, 2025 board election and approved an architect agreement with LPA Inc. for a technology building addition. The board also adopted a resolution authorizing wage payments for employees affected by the Jan. 21, 2025 school closure.
Next steps: the district will hold a budget workshop April 2 and reconvene the budget advisory committee; construction contract items and bond‑related awards were pulled to allow expert committee review before final board action.
