The District’s tax rate is composed of two parts:
Maintenance and Operations (M&O) tax rate and the Interest and Sinking (I&S) tax rate.
The M&O fund pays for day to day district operations such as payroll, utilities, and maintenance of schools and facilities. The I&S fund is used to make payments on district bonds much like the principal and interest on a home mortgage.
Currently, the District’s tax rate is $1.367 ($1.04 for M&O and $.327 for I&S). The board adopted a tax rate of $1.387 ($1.13 for M&O and $.257 for I&S) for 2016.
This tax rate increase will be used to balance the budget, which includes a $1500 salary increase for teachers.
2 Cents Overall
The Board reduced the debt service tax rate by 7 cents and increased the operations tax rate by 9 cents for an overall increase of 2 cents.
The adopted tax rate is $1.387 ($1.13 for M&O and $.257 for I&S).
2. Balance the budget
Superintendent Hanks recommended a restructured teacher salary schedule with an average 5.32% increase in 2015-16 and a $1500 increase for 2016-17 to make FISD teachers’ salaries more competitive.
• Overall reduction in campus and department budgets
• Frozen salaries or had minimal increases
• Reduced personnel positions when possible
• Utilized donations for technology upgrades
• Implemented an Energy Conservation Program which saved $2 million in energy costs
• Postponed major priority maintenance projects where possible
• Consolidated and eliminated bus routes
• Renting Facilities
• Sold advertising on the District’s website, buses, and scoreboard
• Strategically realigned employee responsibilities to improve services
• Charged fees for student participation in athletics and course fees