Carroll district officials project budget deficit for 2015-16

After seeing a slight decrease in state funding, Carroll district officials are projecting a deficit budget for 2015-16.

With a $1.9 million raise for employees, the deficit would be about $5.5 million. The district has money in fund balance, or savings, to cover the shortfall.

The budget for daily operations is estimated at just under $90 million and includes small increases in most categories for inflation compared to the 2014-15 year. One of the biggest increases is a $3 million jump in the Chapter 41 payment to the State of Texas, from $14 million to $17 million.

Robb Welch, assistant superintendent of financial services, said Carroll had a sizable boost in property values. While the increase doesn’t help on the operating side of the budget, it has a positive impact on bond debt.

At the July 20 board meeting, Superintendent David Faltys said that the amount of revenue per student allocated by the state would slip $37 from $5,671 to $5,634.

While some districts received more money as result of the recent legislative session, others received less, Faltys said.

Carroll district officials were able to get back $6 million in 2014-15 due to over charges by the state over several years for Chapter 41 revenue.

Trustees are scheduled to approve the budget at the Aug. 17 board meeting. The tax rate of $1.40, which is not expected to increase, will be approved in September.

This story was originally published August 4, 2015 at 11:16 AM with the headline "Carroll district officials project budget deficit for 2015-16."