Tomball ISD sets budget at $113 million; considers lowering tax rate

The Tomball Independent School District will be starting the school year $3.6 million in the red.

The board of trustees voted to approve a $113.3 million budget that projects $109.7 million in revenues. The deficit comes with the opening of three new school campuses on Aug. 24.

The district will be opening Wildwood Elementary and Oakcrest Intermediate in the southern part of the district, and Creekview Elementary in The Woodlands.

“We anticipated this some time ago, and we set aside these funds that were identified as funds for opening new schools,” said Tomball ISD Finance Director Jim Ross.

The district hosted four budget workshops between April and July before the final approval recently.

“We took a proactive approach by setting aside funds five years ago in preparation for a potential budget deficit,” said Tomball ISD Superintendent Huey Kinchen.

And while there is a projected deficit, the district as a whole is seeing tremendous growth resulting in an increase in taxable values.

Last year, the Harris County Appraisal District calculated estimated taxable values at $7.67 billion. This year the values have been calculated at $8.81 billion; a 14.8 percent increase from 2014.

“We’ve seen huge growth in our taxable values over the last two years,” Ross said.

Since 2008, the tax rate in Tomball ISD has remained steady at $1.36 per $100 valuation. This year, the district will consider lowering its rate to $1.34 per $100 valuation.

Compared with other school districts, Tomball ISD has one of the lowest tax rates in the area, with the exception of Aldine and Conroe ISD, which are both at $1.28 per $100 valuation. Districts with higher tax rates include Katy ISD and Humble ISD with $1.52 per $100 valuation, and Spring ISD, which has a $1.51 per $100 valuation.

The budget also includes a bump in pay for starting teachers from $50,000 to $51,250.

“We have a very sound salary and benefits package that is included in this budget,” Ross said.

Although there is a deficit going into the new school year, Kinchen said he was pleased with the way the district is handling its finances and its growth.

“Overall, even with the reduction in state aid, we have controlled costs and managed our finances well,” he said. “We are good stewards of public monies, and I am proud that we continue to maintain the fiscal integrity of our school district.”

The budget goes into effect on Sept. 1.