Faced with a multi-million dollar budget shortfall for the 2024-25 fiscal year, Frisco ISD officials are considering the use of a voter-approval tax rate election to help cover the costs of proposed raises for staff. 

“It’s very, very important that we give our staff a raise,” FISD Chief Finance and strategy officer Kimberly Smith said in a Community Impact article. “They’re feeling the impacts of inflation just like we are.”

According to Smith, if a tax rate increase is approved by voters, it could help provide as much  $11 million. Frisco ISD is projecting a shortfall of $24 million and is expected to adopt a budget based upon its projections.

The Frisco ISD tax rate is based on three main factors: local property taxes, state funds, and federal funds. And while FISD is considered a property wealthy district, funding partially also depends on attendance, which has been down by 2-3% since the pandemic. 

“It’s a very common misconception that because we’re in such an affluent community, we should have the money to fund our schools,” Smith said. 

Based on these statistics, Smith made a series of recommendations to the school board which include identifying savings, managing shortfalls, and raising the maintenance and operation tax. 

“If it passes voters, then it would help pay for staff raises without eating further into the district’s reserve funds,” Smith said.