At the Board of Trustees meeting on August 24, the 2020-2021 budget was approved. The new budget includes a lower property tax rate for properties within GISD boundaries and a raise for staff, all while operating on a lower average daily attendance allotment.
A district's property tax rate consists of a maintenance and operations (M&O) tax rate and an interest and sinking (I&S) tax rate. The M&O tax rate provides funds for maintenance and operations. The I&S tax rate provides funds for payments on the debt that finances a district's facilities.
Due to increased property values, GISD was able to drop the rate from $1.1484 to $1.1016 per $100 assessed property value. This rate includes a Maintenance & Operations rate of $1.0216 and an Interest & Sinking rate of $.08. The GISD property tax rate history can be found on our business office web page, or by clicking HERE.
The budget was also based on an average daily attendance of 2,639, compared to 2,730 the previous year. GISD currently receives $6,160 per student. The district continuously strives to operate with a conservative budget.
The 2020-2021 budget also approved a 3% raise from the salary midpoint for all staff who are not on a step salary schedule. All staff on a step salary schedule received the step increase for another year of service. Those on a step salary include teachers, counselors, nurses, bus drivers, and bus monitors.