The Round Rock ISD Board of Trustees gave the green light for salary increases for all staff during its approval of the 2023-2024 school year compensation plan during their Regular Meeting on May 18. Additionally, Trustees explored calling for a Proposition A, formerly known as the Voter-Approval Tax Rate Election (VATRE) for November 7, which, if approved by voters, would allow Round Rock ISD to increase staff salaries further and offset the loss of federal funding, increased recapture payments and inflation by generating additional local revenue to use for the District’s operations budget.
The currently approved compensation plan for the upcoming year includes a 3 percent general pay increase for teachers and librarians. This increase is based on the median teacher salary of $58,467, which equates to a $1,750 annual raise for all teachers and librarians.
All other staff members will receive a 2 percent general pay increase based on the midpoint rate of the pay grade in which their position is grouped. This ensures that all employees within a particular pay grade receive an equal pay increase.
Prop A allows voters to approve or disapprove the tax rate adopted by the Board of Trustees. If passed, it will allow Round Rock ISD to access the maximum amount of tax revenue from golden pennies, which is not subject to recapture and would remain with the District. Recapture takes taxpayer money from school districts deemed “property rich” and distributes it to other school districts instead of those funds going to their community schools. This year alone, Round Rock ISD will contribute over $85 million back to the state of Texas as part of recapture.
If approved by voters, Prop A would inject an additional $19 million into the District’s operating fund. These funds would be used to provide an additional 3% general pay increase for all staff members on top of the guaranteed salary increases approved by the Board in May. The general pay increase is based on the midpoint. For example, our non-teacher positions received the approved 2% of the midpoint, and should Prop A pass, an additional 3% of the midpoint will be given. Funding the overall salary increases would cost the District approximately $21 million.
With voter approval of Prop A, the projected tax rate for Round Rock ISD would be $1.0064 for the 2023-2024 school year, which is still lower than the District’s $1.0626 tax rate for 2022-2023. The District would be able to achieve this tax rate due to the state lowering the maximum compressed rate and the District lowering its I&S tax rate by one penny.
Trustees will continue to explore the possibility of calling for Proposition A and potentially take action at an upcoming meeting. If called for, the Election will occur on November 7, 2023.
