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Canyon ISD adopts $111.4M general fund budget and a $0.9577 tax rate
Summary
After a public hearing with no public comments, the Canyon ISD Board adopted the 2024–25 budget and a combined tax rate of $0.9577 per $100 of assessed value; the board noted the rate is an effective 4.4984% increase.
The Canyon Independent School District Board of Trustees adopted the district’s 2024–25 budget and a tax rate of $0.9577 per $100 valuation during its Aug. 15 regular meeting after a public hearing that produced no public comments.
Chief Financial Officer Lela Vela presented the proposed budget and tax-rate breakdown: $111,437,306 in General Fund revenues and $111,937,306 in General Fund expenditures (a budgeted deficit of $500,000); Food Service revenues of $5,462,795 and expenditures of $6,522,642; and Debt Service revenues of $19,876,099 and expenditures of $19,629,608. The board approved the budget by unanimous vote.
The tax-rate motion set $0.6969 per $100 for maintenance and operations and $0.2608 per $100 for debt-service payments, for a combined rate of $0.9577. The board adopted a resolution noting the rate represents an effective 4.4984% increase. The board also committed $2,500,000 of fund balance to capital improvements for 2024–25.
Board members recorded their votes as unanimous on the budget, tax rate and related resolutions. The approval allows administration to proceed with adopted spending and tax levy actions for the coming fiscal year.
