AUSTIN (KXAN) — Austin ISD parents and students had the opportunity to preview some of the priorities of the upcoming 2022-23 budget during a presentation Saturday. District leaders outlined key focuses of the budget, including teacher and staff wages.
District officials said its core investment will be in employee compensation, increasing hourly rates and teachers’ salaries up to 3.7%. Approximately 86% of AISD’s general fund budget goes toward payroll costs, according to the district’s budget FAQ.
Officials also noted the need for Austin ISD to maintain strong cash reserves to protect its bond rating.
“We begin to run low on funds in October, and November, and so if we didn’t have that 20% in reserves, strong reserves, then we as a district would not be able to make payroll, potentially in October and November,” said Eduardo Ramos, Austin ISD’s chief financial officer.
AISD board members are expected to vote on the budget at the board’s June 23 meeting.