Board adopts 2020-2021 budget, proposes tax rate decrease

June 16, 2020

June 16, 2020—The Cypress-Fairbanks ISD Board of Trustees adopted the 2020-2021 budget in the amount of $1,040,726,671 during its regularly scheduled meeting on June 16. The proposed budget was presented during the June 11 committee-of-the-whole meeting.

The general fund budget includes local revenues of $543,309,479, state revenues of $436,378,083 and federal revenues and other sources of $21,200,000. CFISD’s total revenues amount to $1,000,887,562.

The proposed tax rate for 2020-2021 of $1.3578 is a decrease of 1.22 cents from the 2019-2020 school year, with the Maintenance & Operations (M&O) Tax rate at $0.9578 and the Interest & Sinking (I&S) Tax rate at $0.40. The 2020-2021 tax rate is scheduled to be adopted at the September 2020 board meeting.

CFISD plans to provide raises for all staff for the ninth consecutive year. The district’s 2020-2021 budget proposal calls for the following salary increases:

  • a 1-percent-of-base-salary increase in addition to the one-time payment from 2019-2020 rolled in for teachers, counselors, librarians and nurses
     
  • a 1-percent-of-midpoint or base salary increase, whichever is greater, in addition to the one-time payment from 2019-2020 rolled in, for all other staff; and
     
  • a new starting salary of $56,000 for all teachers.

In addition to salary increases, the 2020-2021 budget proposal provides for full-day prekindergarten, COVID-19 expenses, the opening of Rowe Middle School, new teachers and paraeducators, benefits, TRS and other miscellaneous expenses.

View the complete 2020-2021 budget presentation on the CFISD website.

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