The Eanes ISD Board of Trustees unanimously approved the budget for the 2022-23 school year at its June 21 regular meeting, providing a pay increase for teachers and staff and adjusting to declining enrollment.
The approved budget includes $211 million in estimated revenues, countered by $212 million in estimated expenditures, with $124 million recaptured by the State under the “Robin Hood” plan.
Budget key points include:
- $124 million of the budget leaves the district in the form of recapture
- Hourly support staff receive 6% of midpoint increases
- A targeted increase for lowest-paid employees in custodial services, child nutrition and the EISD Child Development Center
- Salaried employees receive 5% of midpoint increases, including teachers, nurses, librarians, counselors, educational partners and administrators
- A $2.75 million grant from the Eanes Education Foundation, which helps to fund instructional positions
- The total tax rate will decrease to approximately $1.0046 from $1.0608 per $100 of taxable value, one of the lowest school district tax rates in the region
Eanes ISD regularly monitors the municipal bond market and its debt portfolio in order to find opportunities to refund (refinance) or retire its existing debt. Since 2013, Eanes ISD has refunded more than $68 million of existing debt, saving $8.5 million in interest over the life of the bonds. In that same time, more than $15 million of principal has been retired early, saving $10.6 million in avoided interest.
The full budget documents are online: https://www.eanesisd.net/dept/