The Early Independent School District adopted a “lean but balanced” budget at a special called meeting Monday. The 2009-’10 tax rate will remain unchanged from last year, however. The total tax rate will be $1.395 per $100 of taxable value.
Board members learned at the Monday night meeting that the district had $600,000 in an “Interest and Sinking” fund balance that can only be used for debt service. By putting $120,000 of the $600,000 debt service, the originally proposed debt service tax of 42 plus cents could be reduced. The six members of the board voted unanimously to approve a Maintenance and Operations tax rate of $1.04 per $100 taxable value and a Debt Service tax rate of $0.3595 per $100 of taxable value for the total $1.3595 tax rate.