For the second consecutive year, the Frisco ISD Board of Trustees has passed what’s known as a deficit budget, meaning it plans to spend more money during the upcoming year than it expects to take in.
Board members approved the nearly $740 million 2023-2024 budget on Tuesday evening.
The district expects to bring in nearly $714 million in revenue, leading to a projected $24 million deficit.
In a statement posted to the district website, Frisco ISD points to two main culprits for the deficit – inflation and the Texas legislature's failure to increase the money it allocates to local school districts.
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Despite the projected deficit, the 2023-2024 Frisco ISD budget does include raises for teachers and staff.
Teachers will make about 2% more this upcoming school year, on average, and staff members will make about 1.5% more, based on the approved budget.
