Before detailing a single revenue or expenditure, Chief Financial Officer Carmen Arrieta-Candelaria promised the Fort Worth ISD school board she had good news.
The preliminary 2024-25 school year general fund budget is balanced, she told trustees.
The CFO presented an early version of the budget during a May 14 workshop meeting. If the numbers hold and the budget is approved, this would be the first time in at least seven years that the school board adopts a balanced general fund budget, according to district officials.
鈥淭his is a milestone,鈥� board President Camille Rodriguez said.
Estimated revenue and spending for the next school year are the same: $822,955,561.
A balanced budget has been a goal for the district for the past two years. The CFO has emphasized that the process of .
鈥淭he way that we , the first and foremost objective was a balanced budget,鈥� Arrieta-Candelaria said.
Trustees are scheduled to consider adopting the next budget June 11.
Achieving a balanced budget was not simple, the CFO said.
The district slashed about $37.5 million in expenditures between the projected 2023-24 budget and next year鈥檚 proposal.
What are the district鈥檚 other budget challenges?
Although the preliminary budget is balanced, administrators told the school board Fort Worth ISD still faces challenges, including:
- . Estimates show Fort Worth ISD sending more than $8.3 million to the state. During the 2023-24 school year, the district sent almost $4.9 million.
- .
- Increasing teacher retirement premiums.
- Meeting the state鈥檚 mandated safety and security requirements.
- Major one-time purchases, such as construction projects, textbooks, equipment replacement and technology needs.
Administrators reduced the number of staff, mirroring the district鈥檚 enrollment decline. The district built the 2024-25 budget on an enrollment of 69,727 鈥� a loss of 948 students.
In February, the school board approved cutting 112 employees whose positions were funded by federal pandemic relief funds; the dollars expire in September. , according to documents obtained through an open records request.
Officials also reviewed vacancies to cut unnecessary jobs.
also helped administrators eliminate some duplicative positions.
The 2023-24 school year budget is projected to end with a $42.7 million deficit. Administrators plan to cover the shortfall with the district鈥檚 nearly $401.8 million in reserves.
Reserves are projected to be at $358.9 million at the start of the 2024-25 school year.
Although the CFO presented a balanced budget, she emphasized the numbers can shift throughout the budget adoption process 鈥� and after.
鈥淭his is a preliminary budget. As enrollments change and needs arise, then we come back to the board and ask for additional adjustments along the way,鈥� Arrieta-Candelaria said.
What about the property tax rate?
Fort Worth ISD estimates the property tax rate will remain at the same level for the 2024-25 school year. Chief Financial Officer Carmen Arrieta-Candelaria emphasized the numbers are estimates and could change before the school board formally adopts a tax rate in August.
Two smaller rates form the overall tax:
- The maintenance-and-operations rate funds the district鈥檚 daily business.
- The debt service rate is dedicated to paying off debt, such as voter-approved bond packages.
The estimated total rate is $1.0624 per $100 of valuation.
The maintenance-and-operations rate is 78.69 cents.
The debt service rate is 27.55 cents.
Jacob Sanchez is an enterprise journalist for the Fort Worth Report. Contact him at jacob.sanchez@fortworthreport.org or . At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy .
