Carroll Independent School District is taking decisive action to manage its financial challenges by selling $8.75 million worth of land. This move is aimed at addressing a projected $1.6 million budget deficit and a $1.7 million decrease in state funding, as discussed in a special board meeting on June 1.

Land Sales to Offset Budget Shortfall

The district’s plan includes selling Old Dragon Stadium and three other properties. Deputy Superintendent for Business and Finance, Chase Park, expressed optimism about completing the sales and inspections in time to meet the fiscal year’s funding needs. The 2025-26 budget, set at $162.9 million, was approved by the school board last year, but unexpected lower tax collections have contributed to the deficit.

Impact of State Law Changes

The decline in tax revenue is largely due to recent changes in Texas law, which increased the homestead exemption ceiling from $100,000 to $140,000 and raised the tax freeze for residents aged 65 and older from $10,000 to $60,000. These changes were difficult to predict at the time of budget adoption, according to Park.

Enrollment Decline and State Funding

Carroll ISD is also facing a projected enrollment drop of 200 students for the 2026-27 school year, reducing the total to approximately 7,670 students. This decline is expected to result in a $1.7 million loss in state funding. The district is working to mitigate these financial impacts through staff attrition, achieving net payroll savings of about $1.2 million.

The proposed budget for the 2026-27 school year is $160.78 million. The Carroll ISD board is scheduled to hold its next public meeting on June 15 to further discuss the budget.

Original reporting: Fort Worth Report — read the source article.