Due to the lack of additional revenue generated from the 88th Texas Legislative session, FISD put forward a budget for the 2023-24 school year that is projected to result in a deficit.
At a Special Board meeting on Tuesday, May 30, Chief Finance and Strategy Officer Kimberly Smith presented the 2023-24 budget proposal. Before getting into the details of the proposed budget, she explained the basics behind school finance, critical factors influencing the budget and the budget process.
Smith explained that the anticipated revenue generated from increased enrollment will not be enough to achieve a balanced budget for the upcoming 2023-24 school year. With this in mind, each department and campus assessed its budgets in search of potential cost-saving measures. Through a combination of attrition, as well as the elimination of vacant positions, the district reduced costs by about $6 million.
But as Frisco continues to grow, more expenses are projected. This August, FISD will open two new campuses: Wortham Intermediate and Wilkinson Middle School. In the upcoming school year, Emerson and Panther Creek High Schools will also include 12th-grade students for the first time.
Accommodating new campuses and additional grade levels necessitates not only the recruitment of teaching and support staff but also entails supplementary operating expenses in areas such as custodial services, athletics, fine arts, transportation and maintenance.
The district will also be adding around 160 new positions to address the expanding demands of the community. Employees will also receive two wellness days in addition to the five state days and five local days currently provided.
Despite implementing a deficit budget for two consecutive years, the district remains committed to providing competitive compensation for Frisco ISD staff.
Increased compensation includes:
- $1,200 raise for those on a teacher pay scale
- 1.5% raise for all other staff
- Employees who work at least four hours a day will receive a minimum $600 raise
- Employees who work less than four hours a day will receive a minimum $300 raise
- All raised will be capped at $1,200
Funding for Texas public schools is derived from various sources, including property taxes, state funds, federal funds and miscellaneous local revenue.
The community is invited to provide input regarding the proposed budget at the June 12 Board meeting before the adoption in late June.