BULLARD, Texas — Bullard ISD trustees on Monday approved its 2024-2025 school budget that has a shortfall of nearly $1.3 million because of economic factors.
During a special meeting, the board approved a $31.5 million budget with a total tax rate of $1.2469 per $100 valuation.
The maintenance and operation portion of the tax rate decreased by $0.0023 due to rising property values and tax rate compression. The debt service rate remained at $0.50 because of the $103 million bond that voters approved in 2022.
BISD noted that the district's new budget has a deficit of $1,297,990 within the general fund, which is similar to what other schools in Texas are experiencing. Economic factors that caused the deficit include inflation, rising insurance costs, underfunded state mandates and a stagnant state-funded per-student allotment of $6,160.
“While inflation has surged over 22%, the state has not increased the basic allotment schools receive per student since 2019,” Superintendent Dr. Jack Lee said. “To put this into perspective, it would take an additional $1,300 per student for Bullard ISD to have the same purchasing power as in 2019."
Lee added decisions by the state have led to the near elimination of reimbursements through the School Health and Related Services program, which provides critical funding for health-related services for students with disabilities.
"For Bullard ISD, this means nearly $400,000 in lost funds. Despite these challenges, we remain committed to providing these much-needed services to our students," Lee said.
Despite the deficit, Lee said that raises and incentive pay for staff and teachers continued to be a priority. The budget has a 2% raise on the midpoint for all full-time employees and a $500 incentive payment.
“First and foremost, we continue to prioritize our faculty and staff and the outstanding job they do educating students,” Lee said. “Even with a deficit, the budget provides well-deserved pay increases.”