The Ector County ISD Board of Trustees will have a public hearing for adoption of the 2024-25 budget at 6 p.m. June 18 in the administration building at 802 N. Sam Houston Ave.
The estimated expenditures for 2024-25 is $349,223,000, but the revenue is $337,748,000. This creates a $12 million decrease to the fund balance. The deficit would be $24 million without cuts, Chief Financial Officer Deborah Ottmers said.
Last year, the adopted budget was $332,243,451 for revenue and other sources; $345,648,500 for expenditures and other uses with a net expected decrease of $13,920,049.
However, at this point, the actual anticipated decrease to fund balance is around $2.5 million for the 2023-24 school year, Ottmers said.
There will also be a discussion of and request for approval of a resolution to calculate the property tax rates.
The proposed tax rate for 2024-25 will remain the same as it was for 2023-24 at $1.014 per $100 valuation.
Also on the agenda is an update on work on the bond issue, including plans for the new career and technical education center, middle school, transition learning center, bond sales, fine arts, athletics and many agreements.
On June 6, the district sold $99,545,000 worth of bonds at variable rates to investors.
Investors were interested in nearly $216 million for the nearly $100 million the district had available to sell. ECISD successfully sold all the bonds with an initial interest rate of 3.62%, supplemental agenda material said.
The interest rate is .12% above the estimated rate of 3.50% presented to the board in the Preliminary Financing Plan on March 26.
The interest rate is 1.63% below the information provided in the voter document in November 2023. The material said had the bonds been sold as fixed rate bonds, the interest rate would have approximated 4.57% and the district would have incurred $2.3 million more in interest costs.
In fine arts, a total of 286 instruments have been ordered to benefit all high school and middle school band and orchestra programs along with the harp program and middle school choirs.
The next instrument orders will include instruments for mariachi, elementary and additional middle school band.
Work has been ongoing on the lighting project for OHS and Permian High School athletic fields.
With permits obtained and underground work started, installation of the light poles should begin July 1, the material said.
Language has been finalized with Gordian and 8 requests for proposals will go live on June 26.
The RFP’s include general contracting along with trades such as roofing, plumbing, weatherproofing, and more, the material said.
In other bond-related items, the board will consider:
- A request for approval of architect-owner contract for bond program construction between ECISD and Parkhill for a new Agricultural Farm Facility.
- A request for approval of a construction manager at risk contract and general conditions of the contract for construction between ECISD and Teinert Construction for a middle school.
- A request for approval of a construction manager at risk contract and general conditions of the contract for construction between ECISD and Teinert Construction for a CTE High School.
- A request for approval of a construction manager at risk contract between ECISD and Teinert Construction for Permian High School Auditorium renovation.
- Request for approval of a master agreement for program management services for bond program construction projects between ECISD and Gallagher Construction Company, LP.
The board also will deliberate the hiring of an Executive Director of Accountability and School Improvement and Executive Director of Leadership.
The agenda and backup material can be found here.
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