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Posted Oct 13, 2005, 9:30 p.m. State leaves SMCISD shortSAN MARCOS - Texas school finance difficulties are taking their toll on the San Marcos CISD, which approved a budget last month that will run a $1.3 million deficit. The school district plans to spend $47.7 million while expecting only $46.4 million in revenues. As proponents for school funding reform complain that the state's contribution to public education has dwindled in the last 20 years to 40 percent from 60 percent, the problem is even more accute in San Marcos, where the school district will generate a whopping 83 percent of its revenues from local sources. San Marcos CISD will levy $36.585 million in local property taxes, accounting for the bulk of its $38.7 million in local revenues. The state is kicking in only $7.3 million. The district will tax local property owners $1.83 per $100 of assessed valuation, taking the state maximum of $1.50 for maintenance and operations (M&O) and increasing its interest and sinking (I&S) rate by ten cents after voters approved a $122.7 million bond issue last spring. The extra dime will fund $8.6 million to be expended for debt service in the coming year. The district spent only $75,000 on debt service a year ago. San Marcos CISD trustees reportedly hesitated to approve the new buget because of the deficit. However, enough minds were changed to turn the vote when the administration reported that a recalculation of the district's cut from the state for attendance would add $1.5 million to the revenues on last year's budget.
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