Click Here to read more.
Local independent school districts (ISDs) are also hording tax money. According to outgoing House Public Education Chairman Dan Huberty, school district fund balances rose to $21.5 billion last year. He commented, “it’s insane the amount of money [ISDs] are putting in their bank accounts.” To be fair, ISDs need to save some funds for emergencies. But even after subtracting the TEA-recommended 110 days of operating expenses out of the balance, ISDs still have up to $6.6 billion in excess savings.