Weatherford ISD Board members moved one step closer in trying to erase the District’s projected $297,135 budget shortfall after approving to publish a proposed tax rate of $1.40 for the 2010-11 school year at Thursday’s School Board meeting.

Although the total proposed tax rate would remain the same as last year, reallocations to the Maintenance and Operations (M&O) and Interest and Sinking (I&S) funds would require voter approval through a Tax Ratification Election (TRE).

“Our Board is proposing to reduce 13 cents from the District’s I&S rate while, at the same time, increasing 13 cents to the M&O tax rate,” WISD Superintendent Dr. Deborah Cron said. “This shifting of pennies would in turn generate $4 million of additional revenue to the District’s maintenance and operations fund.”

The published $1.40 tax rate (per $100 assessed values) includes an M&O rate of $1.17, and an I&S rate of 23 cents. The current tax rate breakdown is $1.04 (M&O) and 36 cents (I&S).

“Ultimately, the proposed tax rate would have to be approved by the voters since the Board is considering adopting an M&O rate above the state’s $1.04 cap,” Dr. Cron said. “So, basically, the choice would be for voters to either keep the current $1.40 allocation the same resulting in inevitable future District cuts, or approve the Board’s reallocated $1.40 tax rate which would net the District an additional $4 million annually that could be used to address student growth, improve student achievement, address the fund balance while also continuing the path toward an Exemplary school district.”

Dr. Cron also said the Board will not consider adopting the proposed tax rate until its next meeting on July 22.

WISD Assistant Superintendent of Business and Operations Tracy Ray and WISD Director of Accounting Lori Boswell presented a PowerPoint presentation to the Board explaining the various scenarios of the proposed tax rate, including projected revenues and expenditures or the upcoming school year.

The budget presentation also included salary step increases for teachers, librarians, counselors, nurses, and speech pathologists as mandated from a recent ruling by Texas Attorney General Greg Abbott just a few days ago.