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Round Rock ISD Achieves Financial Surplus Through Property Sale

Round Rock ISD is celebrating a financial turnaround.

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News Summary

Round Rock ISD is moving from a budget deficit to a surplus for the 2024-2025 school year, primarily due to the sale of land on Cypress Boulevard, projecting to gain over $8 million. Despite financial challenges faced by other districts, Round Rock ISD has implemented strategic spending cuts and received community support for tax increases, resulting in an approved balanced budget of $466 million. The district is poised for future growth and enhanced educational resources.

Round Rock ISD Turns Financial Tide with Property Sale

Round Rock is buzzing with exciting news as the Round Rock Independent School District (ISD) prepares to transition from a budget deficit to a thriving surplus for the 2024-2025 school year. This remarkable turnaround is largely thanks to the sale of a prime piece of land located on Cypress Boulevard.

A Glimpse into Financial Changes

Anticipation is in the air, as the ISD expects to pocket upwards of $8 million from this property sale, which is set to close at a handsome $9.3 million in March. This financial boost comes at a crucial time when many school districts across Central Texas find themselves struggling to make ends meet.

For instance, the popular Austin ISD kicked off the school year grappling with a sizable $41 million budget deficit, even after making tough decisions that resulted in $29 million in cuts. The plight of school funding is far from a unique problem, as Texas’ school funding formulas have remained stagnant since 2019, despite the state enjoying a considerable multibillion-dollar budget surplus.

Steering Towards a Balanced Budget

In light of their previous budget challenges, Round Rock ISD also enacted spending cuts last summer to help stabilize finances. In a show of support for its educators, voters approved a tax rate increase in 2023 to boost compensation for teachers and staff, demonstrating a community commitment to investing in education.

Fast forward to November 2024, and there was yet another affirming moment for the district—a whopping $932.2 million bond package was overwhelmingly approved by voters. This package aims to enhance district schools, focusing on essential building upgrades, advanced technology improvements, and enriching fine arts programs.

The New Budget Unveiled

As a result of these developments, Round Rock ISD’s Board of Trustees has recently given a green light to a balanced budget for the upcoming school year, totaling an impressive $466 million. This figure surpasses earlier projections of a concerning deficit that once exceeded $30 million.

The proposed property tax rate for the general fund stands at $0.6969 per $100 valuation, a decrease compared to the previous year, bringing good news to taxpayers. Meanwhile, the tax rate for the debt service fund remains steady at $0.1980, and notably, there will be no increase in meal prices for the $19.7 million food service fund budget.

Community Sentiment and Future Goals

$8.2 million has been well-received by Round Rock ISD administrators, with efforts now focused on ensuring that teachers receive competitive salaries.

As we move forward, Round Rock ISD’s financial revival comes as a beacon of hope in an educational landscape where many districts are still navigating rough waters. The sale of that property may have just been the lifeline the district needed to enhance educational opportunities while supporting its dedicated staff.

This new chapter for Round Rock ISD sets the stage for a brighter future—one that families, students, and educators can all celebrate. With a surplus in tow, it seems the district is gearing up for exciting developments in the years to come!