The Levelland ISD Board of Trustees held a regular meeting Thursday night.
Trustees approved the monthly financial report. It was noted that several large expenditures was included in this months expenses. Most of those were for buses and other large vehicles that were recently delivered to the district. It was also pointed out that the district is on track to save over $100,000 from the LED retrofit.
The board also agreed to an extension of the current depository contract for three additional two year periods. The current contract is with Prosperity Bank. They also re-negotiated interest rates with the bank, it was noted that the district has negotiated higher interest rates, which will generate approximately three times more interest than the current agreement.
The board also approved a budget amendment to move funds to cover additional expenses associated with the LED Lighting retrofit.
The finance director provided a legislative update, concerning school finance. It was noted that their are still questions on how the money will be utilized. The main allotment is set to increase for the first time in five years, there also is not a separate allotment for high school which was in place, it is part of the basic allotment. Several other allotments were also moved into the basic funding formula. There was also an adjustment for mid-size districts which Levelland ISD is part of, they have extended career tech funding down to the 6th grade. There has also been funding to fund full day Pre-K programs. It was pointed out that the Educational Commissioner will have the power to make changes to funding for three years to correct any unintended consequences of the new funding, it would have to be approved by the Legislative Budget Board. It was pointed out that it does include a raise for all full time employees, not including administrators. The minimum salary requirement will also have to change to match the raise which will have an impact on the district. The bill will also compress the property tax rate down four cents per $100 property value. This is all preliminary information and could definitely change as the legislative session continues.
They also received a report on fundraisers that have been approved by the Superintendent. Both of the fundraisers was to raise money by the High School Cheer program.
The board also reviewed the Trustee Training Record for school trustees. Trustees are required to complete a minimum number of Continuing Education hours each year by the State.