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Board approves 2026–27 budget, compensation plan and refunding bond parameters
Summary
At its June 22 meeting the Eagle Mountain‑Saginaw ISD Board adopted the 2026–27 budgets (M&O, I&S, Child Nutrition), approved a two‑part compensation plan, and authorized parameters to issue Unlimited Tax Refunding Bonds, Series 2026; all motions passed unanimously (6–0).
The Eagle Mountain‑Saginaw Independent School District Board of Trustees on June 22 adopted the district’s 2026–27 maintenance and operations, interest and sinking, and child nutrition budgets and approved a compensation package for district employees.
The board voted to adopt a compensation plan that administration described as a 1% increase effective at the start of the 2026–27 work year, with an additional retroactive 1% contingent on voter approval of the district’s proposed tax increase (the board referred to the measure as the 'beta' election). Dr. Chris Morgan, presenting the HR analysis, said administration recommends a phased approach tied to regional market comparisons and fiscal capacity.
Board members also approved the district’s final 2025–26 budget amendment (reducing an estimated deficit from about $16.6 million to $14.9 million) and the proposed 2026–27 budget package. Chief Financial Officer Rob Welts told trustees the board’s proposed maintenance and operations tax rate framework was 0.7869 (a 4¢ increase tied to the beta election) with the interest and sinking rate unchanged at 0.4988, for a combined proposed rate of $1.2857 per $100 valuation; the board noted certified values that arrive in July could alter the final adopted tax rate.
The board also adopted a parameters order authorizing the issuance and sale of Eagle Mountain‑Saginaw ISD Unlimited Tax Refunding Bonds, Series 2026. Administration and bond advisor Josh McLaughlin told the board market conditions allow refinancing approximately $19.24 million of 2016A/2016B bonds to yield an estimated $2.3 million in present value savings, subject to parameters including a minimum net savings threshold ($1.625 million), a maximum true interest rate (4.5%), and a final maturity no later than Aug. 15, 2041. Bond counsel Kristen Savon reviewed the legal requirements for the parameters order.
All motions on the June 22 consent and action items carried unanimously (6–0). The board recorded the refunding motion with a mover and seconder (motion by Trustee Paige; second by Trustee Ron) and certified the vote as 6–0.
