The rising cost of health care and declining property values in Boyd ISD sent the school district’s budget slightly into the red for next year.
“This is the first year in a number of years that we adopted a deficit budget – but it’s not a very large one,” said Boyd ISD Superintendent Ted West.
The school board adopted a $10.8 million budget, with a deficit of $184,000 or about 1.5 percent.
“Property values are down for the first time in the six years since I’ve been here working for the district,” West said. “They are down about $20 million from where they were last year, and that’s because the mineral values are down.”
Another stress on the budget was the cost of health insurance for employees.
“Health care premiums continue to rise,” West said. “We’re giving all our employee another $75 per month to help pay for their health insurance.”
West expects the deficit will be only on paper, as the district should operate well below the approved budget.
“We think we’ll have no issue in coming in under the budget,” West said. “We didn’t go on a spending spree. We want to be as conservative as we can.”
The board adopted the same tax rate as last year, at $1.225 per $100 valuation.