Fort Worth ISD Board of Education Approves 2022-23 District Budget
On Tuesday, June 28, the Fort Worth ISD Board of Education approved a new budget for the 2022-23 school year in the amount of $819,514,450. The Board also approved a 4% compensation increase for teachers and 4% midpoint for all other employees, with the exception of a 6% of midpoint increase for para-professional and hourly employees.
Additionally, the Board approved a minimum rate of $15 per hour for all full-time hourly employees. A Team Member Incentive Stipend of $2,000 approved for all full-time employees was aimed at continuing to retain employees at FWISD.
While the budget adopted for 2022-23 reflects a deficit spending of slightly over $40 million, the budget reflects a reduction of 5.6% from the prior year’s budget of $865.5 million.
“The District is committed to continuing to work toward adopting a balanced budget while dealing with increasing operational costs due to inflation while providing competitive salaries for all of its workforce,” said Chief Financial Officer Carmen Arrieta-Candelaria. “In the near term, ESSER (Elementary and Secondary School Emergency Relief) funds will help to fortify our budgets over the next two fiscal years.” FWISD is slated to receive more than $261 million from one-time federal ESSER programs over the course of July 2021 through Aug. 31, 2024. These funds will impact the final budgets for the next three fiscal years.
The Board is required to adopt a budget each year prior to July 1. Fort Worth ISD’s fiscal year runs from July 1 to June 30. Tax rates will be considered by the Board in August and are expected to decrease slightly.