By Joseph Hamrick
The Commerce Journal
The Commerce Independent School District is under budget for the second year in a row, which says a lot according to CISD Superintendent Blake Cooper.
The CISD School Board of Trustees passed the preliminary budget for the 2013-14 school year during its June 17 meeting.
Last year’s budget gave CISD just over $12.5 million to work with, compared with this year’s proposed budget of $12.7 million, a 1.3 percent increase.
More than 75 percent of the budget is spent on payroll related items.
“This is truly a service industry,” John Walker, finance director at CISD said.
CISD gets nearly $8 million in funds from the state, just over $5 million in local taxes and a total of $40,000 from the federal government.
The maintenance and operation tax rate from CISD will stay unchanged at a $1.17 per $100 assessed value, the maximum rate the district can have.
The debt and service rate will increase a total of .008 from last year, bringing it to a .4214 percent rate for the 2013-14 school year.