Community Impact reports that during a February board workshop preliminary discussion of the 2024-25 budget, Conroe ISD trustees took note of a $16.2 million shortfall. Chief Financial Officer Darrin Rice and Director of Finance Karen Garza presented the update.
The expenditures for the district are forecast to be around $710.5 million, and the estimated amount for revenue is $639.88 million. Again, these are preliminary numbers.
Rice and Garza commented that the possible shortfall for $16.62 million could be caused by expenditure increases to cover teacher incentives, teacher pay raises and additional employees.
What makes up the $16.62 million shortfall, among other expended funds are:
–Funds for additional personnel for 2024-25 growth totaling $7.5 million.
–A raise or teacher hiring schedule of $1.6 million.
–Virtual Academy expenses at $1.3 million.
–Teacher incentive allotments of $1 million.
–Funds for other expenditures like fuel, insurance and utilities totaling $3.05 million.
–In-kind contributions of $1.75 million for the Teacher Retirement System.
Director of Finance Garza said a flat tax rate is forecast with no change. She also passed along that a rise in the percentage in property value could cause a lower tax rate.
