The Richardson ISD board of trustees unanimously approved a budget this week containing a rarity in today’s times – a surplus. The $318 million budget contains no tax increase, no significant cuts in programs or staff, and a modest raise for all employees. Trustee Luke Davis noted that the $5.8 million surplus is short-lived, with anticipated shortfalls coming in future years. The district is being very conservative, he said, and not pre-spending federal stimulus money they are expecting to receive.
One expanding source of funds which surprised the district was a small increase in student population. The demolition of apartments led to predicted shrinking enrollment. Instead, the rolls are growing as empty-nesters sell homes in single-family neighborhoods to young couples with school aged children. More students bring in more money from the state.
The school board and RISD financial staff will be closely watching economic conditions as they make decisions. They warn that enrollment reductions and revenue losses could lead to school closures and changing attendance boundaries in the future.
