Cypress, TX News – Board approves 2014-2015 budget

Cypress, TX News (May 13, 2014) - The Cypress-Fairbanks ISD Board of Trustees adopted the 2014-2015 budget in the amount of $833,513,043 during the regular meeting on Monday.

The budget includes local tax revenues of $390,917,772, state revenues of $393,120,271 and miscellaneous/federal revenues of $49,475,000.

The proposed tax rate for 2014-2015 of $1.45 – comprised of a $1.04 Maintenance & Operations Tax rate and $0.41 Interest & Sinking (I&S) Tax rate – remains unchanged from the 2013-2014 school year. The I&S Tax rate could potentially decrease upon the Harris County Appraisal District’s release of updated property values this summer.

The 2014-2015 budget plan provides for:

  • a starting teacher salary of $50,025;
  • a salary increase of $2,600 for all classroom teachers;
  • equity pay increases to teachers on hiring schedule steps 2-7;
  • a 3.25-percent-of-midpoint salary increase to all other employees;
  • pay range adjustments and equity increases to certain clerical, hourly support, instructional administration, and central administration positions;
  • summer school elementary literacy initiative;
  • summer school secondary math and algebra initiative;
  • final three-year phase-in to establish a comprehensive police department;
  • the opening of David Anthony Ed.D. Middle School;
  • capital outlay purchases;
  • student enrollment and other cost increases;
  • funding for FF&E replacement schedule;
  • operating costs for restoration of transportation services;
  • instructional materials allotment dedicated for technology services; and
  • an additional district contribution to the Teachers Retirement System (TRS).