The Lago Vista Independent School District adopted the 2019-2020 school year budget at a special meeting on Thursday. Lago Vista ISD also adopted the proposed tax rates for the 2019-2020 school year.
Lago Vista ISD Director of Finance Jason Stoner went over the proposed budget for the 2019-2020 school year with the board.
“I feel confident and solid about where we are at with the budget, especially with our increased enrollment,” Stoner said.
Trustee Scott Berentsen asked Stoner if House Bill 3 would affect the budget.
House Bill 3, which was passed in the 86th Texas Legislative session, provides more funds for Texas classrooms, including increased teacher compensation. The bill also reduces recapture and cuts local property taxes for Texas taxpayers. House Bill 3 is a bipartisan bill considered one of the most transformative education bills passed in the state of Texas in recent history.
Stoner assured Berentsen and other board members that the proposed budget would be within the bounds of House Bill 3.
The board unanimously adopted the proposed budget for the 2019-2020 school year.
The board also unanimously adopted the proposed tax rates for the 2019-2020 school year.
The tax rate on $100 valuation for the district for the 2019-2020 school year was set at $1.25 to be assessed and collected at $0.99 for the purpose of maintenance and operation and $0.26 for the purpose of payment of principal and interest on debts. The rate will raise more taxes for maintenance and operations than the previous year’s tax rate.
Stoner said the district is in a good spot currently.
“We would like to supplement any additional needs we may have, such as interim education needs,” he said. “We are not built to sit on cash.”
Lago Vista ISD Superintendent Darren Webb said he feels strongly that it is the district’s job to provide for all student needs, including school supplies.
“I’m glad we were able to find the funds to cover school supplies this year,” he said. “I think it is ridiculous to ask parents to allocate money for school supplies, when we as a district, can provide for our students.”