As we approach the start of a new school year, we are also approaching the end of the 10-11 fiscal year and the start of the 11-12 fiscal year. Below is a summary of the things that will be happening in the coming weeks with regards to our 10-11 budget and our 11-12 budget and tax rate:
- The EISD Board of Trustees proposed an overall tax rate of $1.2763 during their regular meeting in July. This proposed rate is necessary in order for the district to do the required publications. The proposed rate is made up of an M & O rate of $1.04 and an I & S rate of $0.2363.
- The district receives the certified values from the appraisal districts for the upcoming school year. See previous post for details on these values.
- EISD will receive information from our appraisal districts that will allow us to calculate our effective tax rate and our rollback tax rates. We have received the necessary information from Van Zandt County and are awaiting the information from Henderson County.
- With the effective tax rate and rollback tax rate calculations, EISD will publish a notice in the local papers that detail the proposed tax rate, revenue generated per student, a comparison of values between the upcoming year and the previous year, the effects of the proposed tax rate on the average value of a home in the district, along with other information. This notice must be published at least 10 days prior to the budget hearing held by the board.
- The EISD Board of Trustees will hold a public hearing to discuss the proposed tax rate and proposed budget. At this time, we are planning our public hearing to take place prior to the regular board meeting on August 16. The public hearing will start at 7:00 PM.
- The EISD Board of Trustees will officially approve a budget for the 11-12 school year and then officially adopt a tax rate for the 11-12 school year.
- At the end of August, the EISD Board of Trustees will hold a called meeting to approve the final amendments for the 10-11 budget.
- The 10-11 budget ends on August 31, 2011. The 11-12 budget starts on September 1, 2011.