GATESVILLE — The Gatesville Independent School District board on Thursday adopted an amended $23.7 million budget for the new school year and approved a tax rate of $1.128 per $100 property valuation, which is the same as last year’s rate.
Both actions came on unanimous votes from the full board during a special session that began with a brief public hearing during which no one from the public spoke.
The budget has $23.5 million in revenue and $23.7 million in expenses. The deficit is covered by this year’s fund balance.
The board also voted to allocate $7.5 million in unassigned fund balance from the year ending Aug. 31 as follows: $1.5 million to complete the football stadium, field and track improvements started this year; $1 million as a down payment toward construction of a new elementary school; $2 million to offset potential fluctuations or delays in payment of state aid; and $3 million for capital projects on existing facilities as determined by the superintendent.
The board has called for a $17.9 million bond issue on the November ballot to build a new elementary school.
The terms of two board members — Mary Anne Leib and Gerald Poe — expire this year. Both incumbents are seeking re-election. Two other candidates — Mike Harbour and Robin Barthen — are running for the at-large seats.