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Academy ISD adopts balanced 2024–25 budget and sets tax rate at $1.1664
Summary
The Academy ISD Board approved the 2024–2025 district budget, including employee raises, and adopted an M&O rate of $0.6669 and an I&S rate of $0.4995, producing a total tax rate of $1.1664 for the fiscal year.
The Academy Independent School District Board of Trustees approved the district’s 2024–2025 budget at its Aug. 28 meeting after a presentation by Darla Nolen. The board voted unanimously to adopt the budget, which trustees said is balanced and includes employee raises.
Board members also adopted the district’s tax rates for the 2024–2025 fiscal year. Mrs. Nolen recommended a maintenance and operations (M&O) tax rate of $0.6669 and an interest-and-sinking (I&S) tax rate of $0.4995, for a total tax rate of $1.1664. The M&O rate was adopted on a motion by Jason Lambert, seconded by Adam Fossett; the I&S rate was adopted on a motion by Jennifer Burnett, seconded by Amy Adcock. Both motions passed unanimously.
Trustees emphasized that the combination of the adopted budget and the tax rates allowed the district to maintain core services while providing raises to staff. The approval followed the consent agenda vote and a public-comment period earlier in the meeting.
