The Lewisville ISD school board met last week to discuss the district-wide budget moving forward.
Facing an impending crunch due to state recapture, they discussed a two cent tax swap that would raise the M&O tax rate, which would require an election, and lower the I&S tax rate, as well as whether to approve a 2 percent or 3 percent raise for district staff. The swap would shift tax dollars from funding construction and facilities into paying for instruction.
District CFO Mike Ball presented updated three-year projections on the district’s funding. Over the course of the next three years, the district projects to see its fund balance bleed from $165.5 million at the end of this fiscal year to $144.9 million to $96.7 million, accounting for employee raises and increasing expenditures and local property values.
Click here for the full story from The Lewisville Texan Journal.
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