At a special called Public Hearing and Special Meeting on Aug. 18, the Pleasanton School Board approved the District’s annual operating budget and tax rate.
Chief Financial Officer, Jennifer Donato briefly presented the information that had been discussed at length in previous meetings. The projected figures for Maintenance and Operations (M&O) are $38 million in revenues from local, state and federal funds, with expenditures of $37.6 million. Food Service revenues are estimated to be $1.6 million, which also comes from local, state and federal funds, with expenditures of the same, $1.6 million.
Interest and Sinking (I&S), which is funded only from local tax funds, is projected to be $4.4 million, with $4.7 million in expenditures. This is the debt service payment on the bond and is projected to have a short fall of $290,000.
Salary increases of four percent and the adjustment of the teachers’ pay scale are included in the budget under the M&O. All figures are based on a 98% tax collection rate.
Donato compared last year’s tax rate of 1.276418 to this year’s proposed rate of 1.273418. She added that TEA, Texas Education Association, pretty much sets the M&O rate, based off a school’s property tax values and the comparison of the previous year’s values.
President Ralph Unger closed the Public Hearing and opened the meeting at 6:12 p.m.
Donato presented the final budget amendment to close out the fiscal year to transfer funds into payroll from the general fund, which will still have a fund balance of $5 million. Motion was made by Loren Gillespie and seconded by Pete Pawelek, with Gerald Guerra, Blasa Chapa, Patrick Hurley, Jr. and Jessica Tom voting for approval.
The trustees unanimously approved the adoption 2021/2022 budget as presented. They then approved the proposed tax rate of 1.273418, which is a decrease from last year’s rate. An ordinance has to be signed to set the rate, as well.
Cheryl Barron talked about the compensation package that has been proposed, giving a four percent raise across the board, adjustment to the teachers’ pay scale and the increase in payments to substitute teachers. The proposal was to increase the daily rate from $80 to $100 and long-term substitutes from $110 to $150 per day. There is also an increase from the District of $30 in payment on health insurance. This proposal was approved unanimously.