Board approves final 2024–25 budget amendments; district reports strong tax collections

The Lake Travis ISD Board of Trustees approved the district's final amendments to the 2024'25 budgets, including updates to the general fund, debt-service fund and food-service fund.
Administration told trustees that local tax revenue increased due to prior-year collections and that a state TRS on-behalf true-up reduced state aid for the year. A settlement related to a prior-year informal review increased SHARS (special education Medicaid-related reimbursements) revenue after appeals, the presenter said.
The general fund amendment reflected an overall net increase of roughly $500,000 in expenditures and produced a net projected change to ending fund balance of negative $260,000 for 2024'25, administration reported. The previously projected deficit was $8.635 million; the amended projected deficit is $8.895 million, the presenter said.
Trustees were told the debt-service fund amendment is balanced and includes a net decrease of approximately $8,080,000 in current tax revenues after refunds and protest settlements; the debt-service fund balance remains healthy at about $10.7 million. The food-service fund showed a $190,000 increase in both revenues and salary/benefits tied to higher meal participation and full staffing; its ending fund balance was roughly $1.2 million, under the federal three-month threshold when indirect charges are applied.
The board voted to approve the amendments by voice vote. Administration said the annual audit will determine final ending fund balances and that auditors will return in October to complete year-end work.