Lindale ISD Trustees Approve Budget, Reduce Tax Rate

LINDALE — The Lindale ISD board of trustees adopted the 2011-2012 budget and voted unanimously Monday night to reduce the tax rate for LISD home and property owners. The tax cut reduces the Interest and Sinking (I&S) rate from 41.5 cents to 39.5 cents. The I&S rate is used to pay off school construction bonds. The Maintenance and Operation (M&O) tax rate of $1.06 per one hundred dollars of appraised value will remain the same. The new I&S rate will be applied to the $42 million bond passed in 2009 that included the construction of a new junior high school, the addition of classrooms at the high school, a 1,200 seat auditorium and improvements to athletic facilities.

The board also approved a $ 25.5 million budget for the 2011-2012 school year. The state of Texas budget shortfall that resulted in $4 billion in cuts to public schools did impact LISD’s budget. The district’s share of state cuts is approximately six percent, almost $1.5 million, of last year’s operating budget. LISD was able to make cuts without laying off any fulltime district employees. To compensate for cuts to the district’s operating budget, departments and campuses were asked to tighten their budgets. Travel and supply budgets received significant cuts.

“Due to our conservative approach to spending and great timing with bond rates and low construction cost, the Lindale ISD board of trustees was able to actually lower the tax rate,” LISD Superintendent Stan Surratt said. “To give a tax cut during these tough economic times certainly shows the great financial strength of Lindale ISD. I am very pleased with our financial status.”