The Round Rock ISD Board of Trustees approved a budget of $467.4 million for the 2021-2022 year at its June 17 Regular Board Meeting.
Overall expenditures will increase by $12.8 million, which can be attributed to the hiring of positions to accelerate learning and support campuses that were previously unfilled due to last year’s enrollment during the pandemic, increases to the District’s contribution for the Teacher Retirement System program and a 1 percent compensation increase for all employees. Contributing factors are also the opening of Redbud Elementary School, the allocation of funds to address needs in Career and Technical Education and the submission of recapture payments totaling an estimated $14.9 million to the state of Texas.
As part of the budget, the District will be operating at a projected deficit that is budgeted to result in a $17.2 million reduction in fund balance. Adopting a budget with a deficit is not unusual and historically in Round Rock ISD the deficit is not realized thanks to prudent financial management over the course of the year that realizes savings on projected expenses.
The Board will vote on a tax rate during the September meeting, with the projected rate decreasing from $1.2212 to $1.1339 per $100 valuation.
