"There is desirable treasure,
And oil in the dwelling of the wise,
But a foolish man squanders it."
We can't even, from the Austin Monitor:
Trustees with the Austin Independent School District approved a $1.3 billion operating budget for the upcoming 2016-2017 school year in an 8-0-1 vote Monday night, with District 1 Trustee Edmund Gordon abstaining. It is the largest budget AISD has ever considered, yet board members continued to call out the state’s public education system for its unfairness.Keep in mind, this is in a district where enrollment has now declined four years in a row.
The district approved approximately $1.2 billion in general fund expenditures, which is a $162.7 million increase compared to last year’s general fund revenue. The largest voluntary budget increase stems from a 4 percent raise for all full- and part-time employees, which equates to about a $20 million spending increase.
Other notable expenditures included AISD’s decision to raise the minimum wage of its employees to $13 per hour — an additional $1.2 million expenditure — and put in place a new teacher compensation program. The new program, Professional Pathways for Teacher Compensation, allows teachers to qualify for salary increases through continual education and performance-based measures, among other means. Board members put aside an additional $3 million for the program.
[Author's Note: Emphasis added.]
That being said, for those of us who successfully opposed their bond three years ago, there was this one modest piece of good news:
Due to debt-related savings, AISD is lowering its tax rate by 1 cent this year, to $1.19 per $100 of assessed property value.Read the whole thing here.