BOARD RECAP -- August 28, 2023
August 28, 2023
The Prosper Independent School District Board of Trustees met for a regular Board Meeting on August 28, 2023.
Board of Trustees sets lowest tax rate since 2014
Prosper ISD approves lower tax rate for FY 2023-24, $306 million budget
The Prosper ISD Board of Trustees unanimously approved a new tax rate of $1.2575 per $100 valuation at the August 28, 2023, Board of Trustees meeting. This is a $.1854 decrease from last year’s tax rate and is the lowest tax rate since 2014. See below for a more detailed explanation of how the tax rate is determined.
“The partnership between the Board of Trustees and district leadership helps our district to maintain our community’s expectation of excellence to meet the needs of all of our students and keep our high level of financial integrity,” said Superintendent of Schools Dr. Holly Ferguson.
During a public budget and tax rate hearing, Chief Financial Officer Michele Seese presented a final budget report to the Board. The Board then unanimously approved the $306 million budget for the 2023-24 school year.
NOTE ON BUDGET
- More than 81% of this budget is designated for employee salaries, once again emphasizing the significant regard attributed to the roles of educators and staff members.
- Prosper ISD commits over $3 million annually for safety and security for our campus and district facilities. Each campus is assigned a TCOLE-certified peace officer (since 2018).
NOTE ON TAX RATE
In Texas, school districts are funded nearly exclusively by local property taxes and state allocations. Two crucial components of a school district's funding structure are the Maintenance and Operations (M&O) tax rate and the Interest and Sinking (I&S) tax rate. These rates serve distinct purposes in funding the operations and infrastructure needs of the school district. In summary, the M&O tax rate funds the day-to-day operations of a school district, while the I&S tax rate is directed toward repaying debt incurred for capital projects.
MAINTENANCE & OPERATIONS (M&O) TAX RATE
The M&O tax rate is dedicated to funding the ongoing operational expenses of a school district. These expenses cover the day-to-day functioning of schools, including salaries and benefits for teachers and staff, utilities, supplies, maintenance of facilities, transportation, and other essential operational costs. The M&O tax rate is subject to the state's funding formula for public education, which aims to ensure a baseline level of funding for school districts across the state.
Since schools are primarily people-oriented establishments, a significant portion of the M&O funds—typically around 80%—is allocated to covering personnel-related costs. This includes paying teachers, administrative staff, support staff, and other employees involved in the daily operations of schools.
INTEREST AND SINKING (I&S) TAX RATE
The I&S tax rate is specifically designated to fund the repayment of debt incurred by the school district for capital projects. These projects typically include constructing new school buildings, renovating or expanding existing facilities, and major infrastructure upgrades. When a school district needs to undertake such projects, it may issue bonds to borrow money. The funds raised from these bonds are used to finance capital projects, and the I&S tax rate is established to generate the revenue needed for repaying the borrowed funds, including the principal amount and interest.
It's important to note that voters within the school district often need to approve bond measures, which authorize the district to issue these bonds and incur the associated debt. Bond elections allow the community to decide whether the school district should take on these financial obligations to fund important capital projects. Bonds are sold as they are needed to fund capital projects. See HERE for more information about the 2023 Bond that was called by the Board of Trustees.
CELEBRATIONS
⭐ Air & Space Forces’ Association | STEM Texas Teacher of the Year
Walnut Grove High School Teacher Dan Geiter is the recipient of the Seidel Chapter-Dallas Teacher of the Year Award and has been nominated to compete for the National Teacher of the Year for the Air & Space Forces' Association.
Mr. Hamer, representing the Texas Aerospace Education Foundation, made the official award presentation to Mr. Geiter.
👟 TGCA (Texas Girls Coaches Association) Athletes of the Year
For the first time in the history of Texas athletics, BOTH the TGCA Field Athlete of the Year and the TGCA Track Athlete of the Year are from the same district - Prosper ISD.
Skylynn Townsend, Rock Hill High School | Coach Zach Morgan
Lauren Lewis, Prosper High School (Class of 2023) | Coach Jackie Crisp
🎻 Rushing Symphony Orchestra selected to perform at Music For All National Orchestra Festival
Rushing Symphony Orchestra is one of two middle schools selected to perform at the prestigious Music For All National Orchestra Festival in Indianapolis in March.
Symphony Orchestra Members:
Saanvi Anugu, Daniella Fregoso, Zoe Greenlee, Ian Hing, Emma Holden, Elizabeth Holt, Junyoung Jang, Joshua Le, Ivari Li, Gavin Medalla, Elsa Meier, Rukeon Moon, Faith Park, Ashlynn Peaks, Karsyn Rutledge, Jason Varghese, Mathew Vasquez, Anika Viswanatha, Natalie Williams
Orchestra Director: Caitlyn Nguyen
INFORMATIONAL REPORTS
A. The administration will provide a report on current student enrollment
B. The administration will provide a report on Bond 2019 construction projects
C. The administration will provide a report on 2024 Texas Accountability System changes
Accountability Rating Refresh
In May 2023, TEA made revisions to the standards on accountability ratings. These changes occurred after students had already completed all of their tests for the current school year. While scores went up in 2022, under the new standards, those scores would actually go down in 2023. The 2022 range for an “A” fell between 60-100. That range in 2023 has now been adjusted to 88-100. “While the state says it is an apples-to-apples comparison, it’s more like comparing apples to rocket ships,” CTE Director Julie Anderson said.
Critical Takeaways:
- The previous range for an "A" rating, which was 60-100, has now been adjusted to 88-100, resulting in a notable 28% increase in one year.
- Consequently, what was previously considered an "A" standard has now been reclassified as a "C" standard.
- With the new standards in place, 47% of districts that were formerly awarded an "A" rating will drop 1-2 letter grades.
- In the earlier framework, only 6% of districts earned a "D" or "F" rating; however, under the updated criteria, this figure is projected to rise to 41%.
Directions for retrieving STAAR/EOC scores for returning Prosper ISD students.
ACTION ITEMS
The Board approved the following items:
- the 2023-2024 Prosper ISD annual budget
- the Maintenance and Operation Tax Rate and Interest and Sinking Tax Rate for 2023-2024 School Year
- the final Budget Amendments and designating fund balance for 2022-2023
- submission of one general classroom waiver to the Texas Education Agency in accordance with the District of Innovation plan
- the Texas Teacher Evaluation and Support System (TTESS) appraisers for the 2023-2024 school year
- designation of non-business days for purposes of the Public Information Act for the remainder of the 2023 calendar year
- resolution for additional employee payments
- resolution for school closures due to weather or other emergencies
- the District Improvement Plan
- Campus Improvement Plans
- Huckabee Architects as the firm to design Elementary #20
CONSENT AGENDA
A. Minutes of prior meeting(s)
- 7.24.23 (Special Meeting)
- 7.24.23 (Regular Meeting)
- 8.21.23 (Special Meeting)
B. Consideration and possible action regarding the Cooperative Management Report
PUBLIC COMMENT
- There was one public comment about a non-agenda item.
CLOSED MEETING ITEMS
- The Board approved hiring contract personnel as presented.
IMPORTANT DATES
September 1, 2023 - Professional Learning/Student Holiday
September 4, 2023 - School Holiday
September 18, 2023 - Regular School Board Meeting at 7:00 pm
October 10, 2023 - Last day to register to vote
October 23, 2023 - First day of early voting
November 3, 2023 - Last day of early voting
November 7, 2023 - Election Day
VIDEOS OF BOARD MEETINGS
- Videos of Board meetings are posted within 7 days of the Board meeting.
- Board Meetings are also streamed live.
- Live Stream/Video Archive
PROCESS FOR SPEAKING AT BOARD MEETINGS
The Prosper ISD Board of Trustees welcomes public comment at Board meetings. In order to provide an efficient process at the Board meetings, we ask that individuals complete the Public Comment Form and submit it no later than noon on the day of the meeting. The Notice of Meeting/Agenda is posted 72 hours in advance of the Board meeting.
Prosper ISD Board of Trustees and Superintendent of Schools
From left: Board Member Tommy Van Wolfe, Board Member Jim Bridges, Board President Bill Beavers, Board Vice President Dena Dixon, Superintendent of Schools Dr. Holly Ferguson, Board Member Garrett Linker, Board Member Kelly Cavender, and Board Secretary Jorden Dial.
Visit the Board of Trustees website
Best Public Schools in Texas
Prosper ISD has an established 66-year history that is grounded in the humble roots of a farming community, now soaring to the fastest growing school district in the State of Texas, due in no small part to the pursuit of excellence in the arts, academics and athletics. Our students are routinely recognized on the local, state and national level for outstanding achievements, and our teachers are highly qualified experts who bring out the best in every student.
About Prosper ISD
Prosper ISD is a school district located north of Dallas in Collin and Denton Counties. The district spans approximately 58 square miles and serves more than 25,000 students in 15 elementary schools, 4 middle schools, and 2 high schools.