As mentioned yesterday, the EISD Board of Trustees adopted an M & O budget of $10,527,557 for the 2012-2013 school year. While the budget provides about a $200,000 increase in the M & O budget from last year, EISD is also losing $266,000 in the federal Education Jobs Fund grant. This grant program was for one year only. EISD will not be receiving any funds through this grant program for the 2012-2013 school year.
The $10.5 million dollar budget breaks down as follows: $8,773,872 in salaries and benefits; $1,013,941 in contracted services and repairs; $465,272 in supplies; $258,821 in travel and subsistence and other operating expenses; and, $15,650 in capital outlay.
The M & O budget is made up of local and state aid. We are anticipating collecting about $5.1 million in local taxes and about $4.5 million in state aid.
In addition to local and state aid, EISD will receive some federal funds. We will receive about $90,000 for our Headstart program, about $283,000 in Title I funds, about $54,000 in Title II funds, and approximately $400,000 in federal special education funds.
Finally, we are anticipating collecting about $1,007,000 to pay for our construction bonds. We will use about $66,500 in fund balance to help pay for these bonds. By utilizing some of our fund balance, EISD was able to lower its overall tax rate from $1.2763 to $1.27.
As always, if you have questions or comments, please feel free to contact me at firstname.lastname@example.org.