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(THOMAS WALLNER | THE GRAHAM LEADER) Graham ISD Superintendent Sonny Cruse speaks with the GISD Board of Trustees during their regular meeting Wednesday, Oct. 16. One of the topics discussed by the board was pursuing a Voter-Approval Tax Rate Election. The board will host a workshop at a later date to hear more on the topic.
A Voter-Approval Tax Rate Election was discussed by the Graham ISD School Board of Trustees this week with the possibility of using the funding for teacher salaries.
The Voter-Approval Tax Rate Election (VATRE) can provide the district with additional pennies on its Maintenance and Operations (M&O) tax rate which will generate additional revenue. The item must be approved by voters within GISD on a November ballot.
The GISD board spoke Wednesday, Oct. 16 about the possibility of pursuing an election locally and will be hosting a VATRE workshop in the future to learn more about the process.
“I feel like if it’s something we want to consider we probably ought to look at maybe some kind of VATRE workshop, just so we can understand some of the intricacies of it. But the gist of it... is that we can vote in a permanent increase to the tax rate that is not a bond, increases revenue and allows us to use that money for whatever we want,” Board President Chris Blanton said.
Superintendent Sonny Cruse said the district could be eligible for up to 13 pennies added to the M&O tax rate. GISD Financial Advisor, Jeff Robert, of Hilltop Securities, presented the board with an estimate of funding from a potential tax increase of up to five cents.
According to the estimates, a one-cent increase would be $367,732 in additional revenue, a two-cent increase would be $706,398 in additional revenue, a three-cent increase would be $860,603 in additional revenue, a four-cent increase would be $996,087 and a five-cent increase would be $1,134,503 in additional revenue.
“This is a snapshot in time that Jeff is presenting to you. ...We sent him our template, which gives our current values and tax values, and as that changes those values of those pennies change, obviously,” Cruse said.
The superintendent said some districts will use the additional revenue for raising district salaries and others use it for other purchases, such as buses.
Board Member Jason Smith said that if the district decides to pursue the election, he believes the funding should be used for teacher salaries.
“I think probably a lot of people that were successful a couple years ago focused on salaries and did some pretty extraordinary things with their teachers with it,” Smith said. “I think this year you’ll see people do a lot of different things, but personally, in my opinion, our focus would be (on) the teachers and that would be a way to really bolster our salaries.”
Along with increasing compensation, Board Member Brandon Joy said he believes GISD should also work to set itself apart from other districts by retaining and attracting talent for their schools.
When the workshop is established, the superintendent said the board and community will get a more in-depth look at how the process could work in Graham.
“When you’re going to have your workshop, you’re going to look at everything from one (penny) to 13, until you get a whole big picture,” he said.
