Georgetown Independent School District (GISD) is taking proactive steps to address its financial future by approving a financial audit ahead of a potential voter-approval tax rate election (VATRE). This audit, mandated by the Texas Education Code, is a crucial step for districts considering a VATRE, which, if approved by voters, would increase the district’s maintenance and operations property tax rate. This move aims to raise additional revenue for the district, primarily to enhance teacher compensation and address rising healthcare costs.

Audit and Budget Plans

The audit, to be conducted by MoakCasey, is expected to be completed within three months. Following this, the proposed VATRE will be presented to voters on November 3. In preparation for the 2026-27 school year, GISD plans to adopt its budget and make adjustments to its compensation plan by June 15.

During a recent workshop held on May 4, the district explored four budget scenarios, including one that assumes the successful passage of the VATRE. Under this scenario, teacher compensation would see a 3% increase, while other staff could receive a 2% raise or adjustments to meet market rates.

Financial Context

Currently, GISD’s tax rate stands at $1.0506 per $100 valuation, one of the lowest in Williamson County. Despite increasing tax revenue, the district is seeking ways to maintain a balanced budget while prioritizing teacher pay and managing healthcare costs. Superintendent Devin Padavil highlighted the challenge of keeping up with rising healthcare expenses while increasing staff compensation, a challenge faced by many school districts nationwide.

To engage the community, the GISD board of trustees organized two listening events earlier this month to gather feedback from residents. The district operates with a budget of $167 million and maintains a fund balance of $39 million, which is 27% of the operating budget. Superintendent Padavil emphasized the importance of maintaining this fund balance to meet payroll obligations.

Community Involvement

Residents will have the opportunity to comment on the proposed budget and tax rate during a public meeting scheduled for 5:30 p.m. on June 15 at the Hammerlun Center for Leadership and Learning. This meeting will provide a platform for taxpayers to express their views on the district’s financial plans and priorities.

Original reporting: Community Impact — Austin — read the source article.