MISD board passes new budget, lower tax rate
By Brenda Sommer
Mexia ISD trustees on Friday set a $16.262 million General Fund budget and lower tax rate for 2013-14.
The budget and tax rate were adopted by the MISD board in a special meeting Aug. 23, after a public hearing held just before the meeting in which no one showed up to speak.
The budget is an increase from last year’s $15.5 million. The difference comes from an increase in state funding and about $150,000 more in local tax revenues due to increased property values.
It includes a step pay raise for all district employees who were with MISD last year. Step raises are given each year based on longevity, and vary so that there is no consistent overall percentage increase.
Some $12.9 million of the budget goes to payroll, or 80 percent of the General Fund budget. There is also a separate break-even Food Service budget of $171,919 and an Interest & Sinking budget of $155,328, which is only used to pay down debt.