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Greenville ISD presents 2026–27 budget and proposes tax-rate plan tied to $399 million bond
Summary
Greenville ISD’s finance team reported a healthy fund balance and proposed a 1.1269 tax rate for 2026–27 while warning of debt-service increases tied to the district’s $399 million voter‑approved bond and recommending a June budget amendment to align year-end actuals.
Greenville — Greenville Independent School District’s finance team delivered a second reading of the 2026–27 budget Tuesday and recommended a proposed tax rate of 1.1269 while flagging debt‑service increases linked to the district’s recently approved $399 million bond.
Chief financial presenter Mr. Martin told the board the district closed the 2025–26 year with a fund balance of $24,989,000 — about 41.48% of required reserves — and is projecting roughly $67.5 million in general‑fund revenues for 2026–27, with about 60% expected from local property tax revenue, nearly 40% from the state and under 1% from federal sources. "We ended the school year with a $24,989,000 fund balance," Mr. Martin said as he walked trustees through the revenue and expenditure projections.
Why it matters: the voter‑approved bond means the district will face new debt‑service payments starting August 2026. Mr. Martin told trustees the I&S (interest and sinking) portion would likely need to increase by roughly $0.245 per $100 of valuation to cover the first round of bond debt service. "Based on the voter approved bond of 399,000,000, we would need to increase it by 2.45¢ [sic] on the I&S side," he said, explaining that those payments begin in August 2026.
Board context and next steps: Trustees were presented with the district’s budget calendar and told a public hearing on the proposed budget and tax rate is scheduled for the legally required notice period; the administration will post required documents beginning in early June and bring a final budget to the board for approval on June 29. Mr. Martin also advised trustees he will present a budget amendment at the June 29 meeting to align closer to actuals before the fiscal year closes.
Q3 financials and risk areas: The board also reviewed the nine‑month financial report through March 31. Mr. Martin said revenues and expenditures are tracking within expectations (total expenditures at about 70.69% of budget), but he flagged transportation overtime and legal fees as areas over budget that will be addressed in a required budget amendment. "A couple of the areas that are currently over budget are transportation and general administration," he said, noting planned corrective steps.
What trustees voted on: following the presentation the board moved to approve the third‑quarter financial report as presented (motion passed by recorded voice/hand counts). The budget will return for final approval after required public posting and the June 29 public hearing.
What remains unresolved: Mr. Martin noted uncertainties tied to state legislative actions (vouchers, potential property‑tax changes) and said the district is monitoring updates from the comptroller and other CFOs across the state. He emphasized that the proposed tax rate and debt‑service estimates are contingent on final certified property values and potential legislative actions.
The board will hold the required public hearings and return on June 29 for the final budget vote and any amendment needed to bring the budget into alignment with year‑end actuals.
