MISD leaders react to VATRE defeat
Bill Spinks wspinks@cherryroad.com Midlothian ISD faces some difficult budgetary decisions going forward following last Tuesday’s rejection of a voter-approved tax rate election, or VATRE, that would not have changed property tax rates in the school district. MISD voters turned down the proposed school funding proposition to authorize the district to access three “golden pennies” that would have generated an additional $4.7 million in revenue for the district’s operating budget. The additional revenue was slated to defray the district’s projected $5.6 million budget deficit and preserve budget priorities. According to the Ellis County Elections Office, the final unofficial results were 12,298 for and 16,530 against the proposition. The MISD Board of Trustees will canvass and certify the vote at its next regular meeting this Monday. “We are disappointed with the outcome,” MISD Board of Trustees President Gary Vineyard said in an MISD news release. “We’ve got some tough challenges ahead.” Superintendent Dr. David Belding added in the release, “The district will begin evaluating the next steps and developing a contingency plan to deal with budget shortfalls, rising inflationary costs, unfunded state mandates and the need to preserve student programming and experiences while still attracting and retaining high-quality staff. There’s a lot to consider going forward into the next budget year. We know we can’t keep dipping into our reserve for day-to-day operations.” The estimated $4.7 million in revenue included $1.8 million in untapped state funding that MISD cannot access without voter approval of the additional three golden pennies. The district said it will pull revenue from its 90-day reserves (fund balance) to cover the projected $5.6 million 2024-2025 fiscal year deficit. “We put forth what we considered to be the most fiscally responsible approach to access and maximize local and state funding,” Vineyard said in the release. “Our stewardship in paying […]
