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Groesbeck ISD board adopts $22.4 million 2024–25 budget; fund balances, SHARS and solar farm noted
Summary
The Groesbeck ISD Board of Trustees adopted the district's 2024–25 budget on Aug. 26, 2024, approving total expenditures of $22,425,194 and total revenues of $21,960,194; trustees reviewed reserves, SHARS and CAD impacts and a $1.6 million solar-farm liability due in 2027.
The Groesbeck Independent School District Board of Trustees passed a resolution Aug. 26 adopting the fiscal-year 2024–25 budget that sets total revenues at $21,960,194 and total expenditures at $22,425,194 for the period Sept. 1, 2024 through Aug. 31, 2025. The resolution text in the agenda packet states the budget was "PASSED AND APPROVED by the Board of Trustees of the Groesbeck Independent School District on the 26th day of August, 2024."
Board members and staff framed the budget conversation around three revenue drivers: refined ADA (estimated 1,410.750), certified property values (2024–25: $1,855,211,357), and tax effort. District presenters warned that the budget reflects a roughly 10.8% reduction in aggregate expenditures versus the prior year (Grand Total difference -$2,466,173, percent change -10.80%). Staff also flagged fund-balance dynamics: Unassigned M&O Fund Balance reported Aug. 2023 was $4,543,839 and district materials note that reductions in SHARS ($400,000) and appraisal district (CAD) adjustments ($1.3M in 23–24; $700K in 24–25) reduced available resources. The presentation also identified a solar-farm obligation of $1.6 million due January 2027.
The board's formal action appears in the posted resolution and minutes; the agenda packet included a detailed budget summary by function and fund (General Fund revenue $17,920,200; Child Nutrition Fund $836,873; Debt Service revenue $3,203,121). The public hearing and resolution adoption fulfilled statutory posting and notice requirements included in the meeting materials.
