district planning and advisory committee budget and financial overview tuesday, may 20, 2014
TRANSCRIPT
District Planning And Advisory Committee Budget and Financial Overview
Tuesday, May 20, 2014
Despite funding cuts during the 2011 legislative session GPISD has continued to be financial healthy
Contributors to financial success: Growth in the Taxable Value of Property as set by
Harris County Appraisal District The successful Tax Ratification Election held in
September 2012 Continued growth in enrollment and Average
Daily Attendance
Financial Health
Growth in Taxable Value of Property: Increasing Local Revenue
Year Value Growth2011 $ 5,420,100,000
2012 $ 6,363,000,000 17%
2013 $ 6,763,000,000 6%2014* $ 7,009,000,000 4%
* Based on Certified Estimated Values as of April 30, 2014
The District’s tax rate is comprised of 2 components: Maintenance and Operations Rate Debt Services Rate
In September 2012, Voters approved a TRE which moved 6 cents from the Debt Service Rate to the Maintenance and Operations Rate No Overall Increase in the Tax Rate Ability to collect 6 additional cents combined with the
increases in the Taxable Value of Property has substantially increased the District’s Local Revenue from Tax Collections
The increase in Local Revenue has more than offset the loss from reductions in State Aid
2012 Tax Ratification Election:Increasing Local Revenue
Growth in Student Enrollment and Average Daily Attendance:
Moderating State Aid
Year Enrollment ADA2010-11 21,680 19,827
2011-12 21,861 20,226
2012-13 22,113 20,450 2013-14 22,536 20,678
Funding for Maintenance and Capital Projects New Teacher and Student Computers, Data
Projectors, and iPads Purchased 10 additional Buses Implemented Security System and Improved
Video Camera systems at High Schools Provide funding for Textbooks and
Instructional Materials Provided Salary increases for 2013-14 and
2014-15
Reaping the Benefits of Good Financial Health
Budget Projections for 2014-15
State Funding 2011 Legislative Session - State funding was reduced by $5
Billion 2013Legislative Session - State reinstate $3.9 Billion for
the 2013-14 and 2014-15 School Years New Teacher Retirement System Tax Paid by Districts
Estimated Cost: $1.4 million One time only funding assistance from the State
Board Adoption of the 2014-15 Compensation Plan Majority of Teachers/Nurses will receive $1,875 salary
increase Beginning Teacher salary moves to $50,000 3% General Pay Increase calculated using Pay Grade
Midpoints Estimated Cost: $7.8 million
Major Factors Impacting the 2014-15 Budget Planning
Future of School Funding in Texas
Approximately 2/3rd of the districts joined in a lawsuit against the State
Trial was held Fall 2012 On February 4, 2013 the Current State Funding system was
ruled Unconstitutional Judge heard new testimony from both sides in early 2014 to
consider new evidence based on the results of the 2013 Legislative session
Waiting on Judge’s decision to affirm the previous Unconstitutional ruling or not
If Judge affirms Unconstitutional verdict, State is expected to appeal the decision
Appeal process could last up to a year
School Finance TrialDistricts Vs. State of Texas
Questions or want to know more?
Sonya George, CPA, CTSBOChief Financial Officer
(832) 386-1205