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Gainesville ISD adopts $34.4 million operating budget and lowers tax rate
Summary
Gainesville ISD’s Board of Trustees approved the 2024–25 budgets by function—$34,410,913 for General Operating, $2,371,924 for Food Service and $1,897,450 for Debt Service—and adopted a total tax rate of $0.8582, a $0.0154 reduction from the prior rate.
Gainesville Independent School District’s Board of Trustees unanimously approved the district’s 2024–25 budget and adopted a slightly reduced tax rate at its Aug. 19 meeting.
The board approved a General Operating budget of $34,410,913, a Food Service budget of $2,371,924 and a Debt Service Fund of $1,897,450. Board member Marvin Royal moved to adopt the budgets and Phil Neelley seconded; the motion carried 7–0.
The board also adopted a total tax rate of $0.8582, composed of a Maintenance & Operations (M&O) rate of $0.7552 and an Interest & Sinking (I&S) rate of $0.1030. The board noted the overall tax rate represented a $0.0154 reduction compared with the previous year. The motion to approve the tax rate was made by Corey Hardin, seconded by Nathan Dempsey, and passed unanimously.
Board members said the approvals were required by the Texas Education Agency before the start of the school year and enable the district to open schools with approved spending levels. No public comments were made during the budget and tax-rate public hearing that preceded the votes.
