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Frisco ISD Anticipates Over $30 Million Deficit In Budget

$23 million is expected to be drawn from FISD's $77 million reserves

The upcoming fiscal year for Frisco ISD shows a $30.8 million shortfall, with the district working to prioritize students in the upcoming year’s budget.

During a board meeting on May 8, 2024, district officials outlined their plan for the upcoming year. In the absence of supplementary state funding, FISD administrators anticipate tapping into reserve funds to alleviate the projected $30.81 million deficit for the fiscal year 2024-25.

According to the budget, the district's general fund budget covers the day-to-day operations of schools, encompassing a range of FISD expenses, including salaries, transportation and other student-related costs. In the current proposal, the general fund budget outlines $721.69 million in revenue and $752.51 million in expenditures, resulting in a $30.81 million deficit.

Officials anticipate withdrawing $23 million from FISD's $77 million reserves for the fiscal year 2023-24. An additional $9 million is projected to be drawn from the fund for the fiscal year 2024-25 budget.

However, should the district deplete its reserve funds excessively and fail to receive additional funding from the legislature, further measures to balance the budget may entail eliminating teacher wellness days or increasing secondary class sizes.

“The classroom is our first priority when developing a budget to ensure we maintain the academic and operational excellence that Frisco ISD is known for,” a statement from FISD previously read. “Unfortunately, FISD is not immune to the economic challenges facing the rest of the state and nation.”

In the fiscal year 2023-24, FISD adjusted its budget to minimize the impact on operations. Similarly, in 2024-25, the focus remains on preserving operational efficiency while prioritizing the welfare of students.

In 2023-24, Frisco ISD operated with a budget of $738 million, while revenue amounted to $713 million. This resulted in a $24 million deficit, representing just 3% of the total budget.

Public comment on the 2024-25 budget will be heard at the regular board meeting on May 13. An official public hearing and vote on the budget will occur on May 15 at 9 a.m.

Update 5/10/24 9 a.m. A previous version of this story included the incorrect date for the vote on the budget. It has since been updated with the correct information. 

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