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:
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.