Voters to decide on EPISD Penny Swap

From KVIA’s news partners at El Paso Inc.:

For the second time in three years, El Paso ISD is asking voters to approve what’s called a “penny swap,” which would bring in $7.5 million in additional state money without raising the local school tax rate.
If approved in the Nov. 6 election, all 8,400 of El Paso Independent School District’s full-time employees, including more than 4,000 teachers, will get a one-time $750 stipend in December – a bonus just in time for Christmas.
The stipend would cost about $5.5 million of the $7.5 million. The remaining $2 million would go to bolster the district’s dual language program and to replenish money taken from the district’s fund balance in year one.
But next year and in future years, the district can use the extra $7.5 million from the state as the board sees fit.