SSISD board meeting Mon. to approve budget, tax rate
Faith Huffman | News-Telegram News Editor

Aug. 25, 2006 -- Trustees for Sulphur Springs Independent School District will gather Monday for one of the most important meetings of the year -- the adoption of the annual budget and tax rate.

The proposal the board will consider during the special 6 p.m. called meeting would see property taxes dropping 9 cents per $100 property value for fiscal year 2006-2007, which begins on Sept. 1.

A public meeting will be held prior to the start  of the board meeting for any comments or questions pertaining to the tax rate, as required by Section 44.004 of the Texas Education Code.

If approved, the overall tax rate will be $1.41196, with $1.304035 of that going to the local maintenance fund and $0.107925 for the debt service, bonded indebtedness, interest and sinking fund. The first rate covers the cost of daily operations while the second covers district debts such as bond repayments.

The board will also be presented with new figures to determine the final budget. The number will vary slightly from previous amounts used in budget workshops and reflect requested changes and variations for the amount the district can safely afford to award for teacher pay increases.

School financial officers earlier this month anticipated revenues to come in at $27.167 million, a bit ahead of expenditures, which are expected to be somewhere in the neighborhood of $26.9-$27 million for day to day expenses. 

Those funds do not include programs such as food service, debt service and workers' compensation, which are addressed in special funds budgets.

Overall, the district anticipates spending $40,503,384 next year including special  funds and debt repayments. The district anticipates bringing in $40,504,209,  leaving $825.

That amount, coupled with the $5.08 million left from fiscal year 2005-2006, should leave the district with a healthy fund balance of $5,080,825 on  Aug. 31, 2007.

In addition to adopting a tax rate and the general fund, debt service and food service budgets for FY 06-07, the board will also make any amendments needed to finish out current budget.

An executive session will follow to discuss any personnel or real property issues which may have arisen since the last meeting on Aug. 14. The board will reconvene in open forum following the session to take any action relative to items covered during the closed door session.

Older Archives

Looking for News-Telegram Sports and News Archives for January 2004 - November 2008