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Mercedes ISD adopts $1.1269 tax rate and approves 2024–25 budget
Summary
At its Aug. 20 meeting Mercedes ISD trustees adopted a 2024–25 tax rate of $1.1269 and approved the district budget; the board also approved a bond defeasance and several budget amendments during the session.
The Mercedes Independent School District Board of Trustees approved the district's 2024–25 budget and adopted the tax rate for the same fiscal year at $1.1269 during the Aug. 20 regular meeting.
Interim Superintendent Jeanne Venecia presented staff recommendations and the board voted unanimously to approve the proposed district budget and to adopt the tax-rate ordinance. The board also approved an order authorizing the defeasance and partial redemption of the district's unlimited tax bonds and approved an escrow agreement related to that action.
Several 2023–24 budget amendments and fund-specific adjustments were approved during the meeting, including amendments to the General Operating Fund and Debt Service Fund. Trustees also approved awards for insurance and other contracts that will be reflected in the fiscal plan. The board's adoption of the tax rate and budget takes immediate effect for the 2024-25 fiscal year.
