A 2 % pay increase for executives and 3% pay raises for all other District employees is part of the $846,826,030 fiscal operating budget for 2023-2024 approved by the Fort Worth ISD Board of Education, Tuesday, June 28.
The new fiscal year begins Saturday, July 1. FWISD Employees can expect the pay increases to appear on their paychecks this September.
The District anticipates a more than $45.3 million deficit if no additional funding is allocated to FWISD as a result of the ongoing special session in the Texas Legislature. District fund balance or savings will be used to absorb that deficit, Business and Finance officials say.
Of the operating budget, 82% is payroll expenses, according to the Business and Finance Department.
The District’s total compensation plan increase is more than $23.1 million, with $17.27 million of this built into the general operating budget. The pay increases allow the District to stay competitive with salaries offered by comparable districts and align with market-value salaries. Also included in the compensation model is a $3.4 million allocation that allows the District to cover the TRS increases in healthcare costs. FWISD is covering the TRS increase of $44 per employee.
Listen to a recording of Tuesday’s Board meeting on the Fort Worth ISD LIVE YouTube page for additional details on the 2023-2024 fiscal budget.
On Tuesday, trustees also:
Appointed new leadership roles: Toni Cordova, Chief of Governance and Strategic Communications and Audrey Thomas, Executive Director of Specialized Learning
Elected its 2023-2024 board officers: District 1 Trustee Dr. Camille Rodriguez serves as president; District 6 Trustee Anne Darr is first vice president; District 9 Trustee Roxanne Martinez remains second vice president; and District 8 Trustee Anael Luebanos is board secretary.