Since its inception, CEF, through generous donations, has assisted CISD in maintaining excellence with over 1.3 million dollars in innovative learning grants and student scholarships. These funds are used to defray the losses CISD faces every year due to Chapter 41 of the Texas Education Code, sometimes referred to as the Robin Hood program.
The Robin Hood expenditure is set to become an even bigger hit to CISD due to the expiration of the Tax Increment Financing Zone (TIF) program in 2018. According to Chris Archer, President of CISD Board of Trustees, “Since 1998, Carroll ISD has participated in a Tax Increment Financing Zone (TIF) with the City of Southlake. The zone includes Southlake Town Square, Dragon Stadium, and other properties. CISD contributes tax revenues on growth within the zone and is then reimbursed for CISD project costs within the zone. TIF helps support area growth and allows the local use of funds that would otherwise become a part of CISD’s Chapter 41 Recapture.
Due to changes in the state finance system through the years, CISD’s operating budget has had limited revenue growth to support increased enrollment levels and services for students. The TIF has been instrumental in helping keep some tax funds local rather than surrender them to the state. In 2018, the TIF Zone expires and there is no legal mechanism for extending the agreement. This means Carroll ISD will experience a net funding loss of $2.2 million per year.
Support for organizations like CEF will be crucial for CISD to continue to ensure the excellence our community has come to expect. We value the Foundation’s work and hope that our local business leaders, parents and taxpayers will generously donate to support our teachers and students.”
For more information, visit www.carrollbudget.com.