Dripping Springs ISD approved a budget of $ 97.5 million on June 28th. (Courtesy Dripping Springs ISD)
The Dripping Springs ISD Board of Trustees, in a meeting on June 28, approved the district’s budget for fiscal year 2021-22, along with an employee compensation plan.
DSISD’s total budget is set at $ 97.57 million. The district’s general fund expenditures have been set at $ 80.32 million with revenues of $ 80.44 million. This is a 6.3% increase over last year’s budget, partly due to an increase in repayment payments to the state to nearly $ 7 million from $ 4.46 million last year. The district also planned to increase enrollment by 724 students for 2021-22, with 8,007 students expected on the DSISD campus this fall. The Debt Service Fund is set at $ 21.14 million, up 2.5% year over year, with revenues of $ 24.88 million, and the Child Nutrition Fund is $ 3.18 million.
While tax rates for the coming year won’t be officially set until September, the new budget assumes a maintenance and operating tax rate of $ 0.9630 per $ 100 certified value, a 2 cents reduction from the current rate and an overall tax rate of $ 1.313 per $ 100 certified value. The interest rate and declining tax rate are expected to be the same as last year at $ 0.35 per $ 100 certified value. The M&O tax rate mainly finances the general fund portion of the budget and the I&S portion mainly finances the debt service fund.
Amanda Brownson, Associate Executive Director of Policy and Research for the Texas Association of School Business Officials, said at the meeting, while not yet certified, the M&O tax rate is likely to drop a few cents from last year.
The remuneration for the 2021-22 financial year includes a 2.5% salary increase for all employees. DSISD employees also receive $ 300 for health insurance and $ 75 per month for HRA / HSA plans. Several scholarships are available for DSISD employees, ranging from $ 500 to $ 10,000, depending on position and master’s degree
The board planned to add 45 new full-time positions, including some that will fill the new Cypress Springs Elementary School, due to open this fall.