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Sweetwater ISD finance director presents 2024–25 budget; tax rate to remain unchanged
Summary
Casey Bills presented the proposed 2024–25 budget, reporting Food Service is projected to earn $31,719 and proposing an M&O rate of $0.7089 and I&S of $0.2619 for a total rate of $0.9708; the district scheduled a special meeting Aug. 29 to adopt the budget and set the tax rate.
Casey Bills presented the district’s proposed 2024–25 budget, telling trustees that Food Service is projected to produce a profit of an estimated $31,719.00 and that, under the proposed tax structure, the maintenance and operations (M&O) rate would be $0.7089 and interest & sinking (I&S) would be $0.2619 for a total tax rate of $0.9708.
Bills summarized four main takeaways: the tax rate will not increase; the projection should generate enough revenue to make the bond payment and add to reserves; Food Service is expected to remain profitable; and general operating funds face a projected deficit with plans to reduce expenditures. The board set a special called meeting for Aug. 29 at 5:00 p.m. to adopt the budget and formally set the tax rate.
