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Chief Finance and Strategy Officer Kimberly Smith presented the proposed 2023-24 budget at a Special Board meeting on Tuesday, May 30. Before reviewing the proposed budget, she explained the basics behind school finance, critical factors influencing the budget and the budget process.
The District adopted a deficit budget in the 2022-23 school year. Without an increase in revenue from the 88th Texas Legislative session for teacher pay or to meet the rising cost of inflation, FISD has again proposed a deficit budget for the 2023-24 school year.
Money for Texas public schools comes from property taxes, state funds, federal funds and miscellaneous local revenue. Learn how Frisco ISD does not receive additional funding despite rising property tax bills.
Expected revenue from enrollment growth won’t be enough to balance the budget for the 2023-24 school year. With that in mind, every department and campus reviewed their budgets for potential cost savings. As a result, together with attrition and eliminating vacant positions, the District was able to eliminate $6 million in costs. Learn more on slide 23.
Frisco ISD is opening two new campuses this August, Wortham Intermediate and Wilkinson Middle School. In addition, Emerson and Panther Creek High Schools will serve 12th grade students for the first time in the new school year. In addition to teaching and support staff, new campuses and grades require additional operating costs such as custodial, athletics, fine arts, transportation and maintenance.
Several staff will be added across the District to meet the priority of maintaining targeted class sizes and reasonable ratios for special programs. The District will add approximately 160 positions to meet the community's growing needs. In addition, several operating costs have increased. Learn more on slide 24.
Despite adopting a deficit budget for the second year in a row, the District wants to continue to offer competitive pay for Frisco ISD staff.
Increased Compensation
$1,200 raise for those on a teacher pay scale
1.5% raise for all other staff
Employees who work at least four hours a day will receive a minimum $600 raise.
Employees who work less than four hours a day will receive a minimum $300 raise.
All raises will be capped at $1,200.
Considering retention incentives, the average years of experience and the proposed compensation plan, the average teacher will receive a 2.1% increase. Find the average percent increases for various employee types on slide 28.
Increased Benefits
Frisco ISD employees will receive two wellness days in addition to the five state days and five local days currently provided.
Benefits can also be found on the FISD website.
The community is invited to provide input regarding the proposed budget at the June 12 Board meeting before the adoption in late June.