New Waverly ISD approves budget, tax rate

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August 26, 2010

By Mary Rainwater Staff Reporter The Huntsville Item Thu Aug 26, 2010, 04:18 PM CDT

HUNTSVILLE — As students headed back to school, New Waverly Independent School District trustees got down to business themselves, approving their 2010-11 budget and tax rate in a meeting earlier this week.

According to NWISD Superintendent Dr. Clay Webb, the board approved a general fund budget of $7,683, 623 — a budget very similar to the previous year’s.

“Everything stayed about the same,” Webb said, reporting that the new budget was slightly affected by reduced property values and the struggling economy.

“Due to a ($10 million) decrease in property values, we had to make 5 percent cuts in some expense areas,” he explained. “But we always estimate conservatively, particularly in the area of tax collections and student attendance.

“So, if things go as expected, or better, we are fully optimistic that we can manage this budget.”

To support the budget, trustees approved a Maintenance and Operations (M&O) tax rate of $1.04 per $100 of property value — the maximum allowed by the state — and an Interest and Sinking (I&S) rate of 23 cents.

“We just need the Legislature to continue working hard for schools,” Webb said when asked about future budget concerns. “I think when the economy comes back, New Waverly will grow a lot and our level of funding should be consistent.”

In a related action, trustees also OK’d the district’s preliminary Financial Integrity Rating System of Texas (FIRST) rating, with the district earning the highest rating of superior.

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New Waverly ISD approves budget, tax rate

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