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“It’s officially that time of year,” Business Manager Tish Holleman told the school board Monday. “This is to get us in the mood to think about what’s ahead in the next couple of months.”
Early projections show PISD stands to get about $34.01 million, or $464,000 more next year. That includes $21.32 million from the state, $10.57 million in local revenue and $2.12 million from federal sources.
Expenditure projections at this point total $34.13 million – a $111,656 shortfall. The operating side of the budget has a $228,213 surplus, but debt payments show a $339,869 gap.
“This is a projection of revenue. That’s kind of hard to estimate right now,” Superintendent Paul Jones said. “A district this size, it’s hard to estimate revenue on last year’s numbers because our expenses increase. Eighty percent of our budget is salaries. If 80 percent of our budget gets step increases, that’s a large number.”
The numbers are very preliminary, Holleman said. They include not only an increase in debt payments, but also a step increase in pay for teachers and aides according to the district’s hiring schedule. Other employees not on that schedule haven’t been figured in yet, she said.
“We’ve got a lot of work to do,” she said.
PISD also faces a roughly $300,000 bill from the state for a new charge the Legislature put on school districts to cover a cost of living increase for retired teachers – the first such hike in more than a decade.
“Thank the school districts,” Jones said. “That was an easy vote for any legislator.”
This year’s budget has $20.86 million in state revenue, $10.57 in taxes and other local revenue sources and $2.12 million from the federal government. That totals $33.55 million in revenue.
Proposed expenditures for this year come in at $33.65 million. The $99,243 shortfall is from the debt fund. Rather than raise taxes to cover the entire cost of $3.28 million in debt payments, the district elected to use money left in the interest and sinking fund to offset expenditures.
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