AISD budget, tax rate okayed

By Melinda L. Lucas

Albany ISD trustees passed a budget for the 2023-2024 school year during a special early morning session on Aug. 31, meeting the required state deadline.

They also okayed the proposed tax rate of 73.80 cents cents per $100 valuation, including the state-allowed “five golden pennies.”

Total expenditures budget are projected at $6,906,021, while revenues are listed at $6,605,165, a difference of $300,956.

The expense side includes raises for teachers who have “maxed out” their step raises, an increase in property insurance, and a couple of major projects.

“Five years ago, property insurance was $78,000,” said Supt. Jonathan Scott. “This year, it’s $199,000.”

The budget is based on the new “maximum compressed rate” of 68.80 cents with the “five golden pennies” added that the state allows with no election for a total tax rate of 73.80 cents. The numbers are much lower than last year’s total tax rate of 94.41 cents as a result of the state’s property tax relief package, which is expected to gain voter approval in November.

Matt Bellah made the motion to approve the budget, seconded by Joe Tidwell, with all five trustees present in agreement.

Tidwell then voiced the motion to approve the tax rate, with a second from Bo Brown. That motion also passed unanimously.